Broadridge Financial Solutions (NYSE: BR) has entered into an agreement to acquire CQG, a provider of futures and options trading, execution management, and market connectivity. CQG will add complementary execution management, algorithmic trading, and analytics capabilities to Broadridge’s order management and client connectivity solutions, creating an end-to-end trading suite for global futures and options markets.
“The acquisition of CQG will accelerate (our) mission to deliver advanced, highly connected trading solutions on a global scale,” said Frank Troise, president of Broadridge’s Trading and Connectivity Solutions business. “Integrating CQG’s advanced execution management, analytics, and connectivity technologies with Broadridge’s leading order management and connectivity solutions will create a unified platform in futures and options that simplifies trading complexity, improves transparency and workflow efficiency, and enhances Broadridge’s digital asset trading capabilities.”
“We are truly excited to combine CQG’s nimble approach and powerful front-office execution management, analytics and connectivity solutions with (their) deep global reach and front-to-back capabilities,” said Ryan Moroney, CEO of CQG. “The trading experience of our collective clients will be defined by speed, intelligence, and scale, enabling them to trade smarter, access new markets, and adapt faster in an increasingly dynamic marketplace. The CQG team is truly excited to join a company with the history and successful track record of Broadridge.”
The expanded offering is designed to better support the evolving needs of clients across a broad spectrum of segments, including FCMs, institutional investors, retail brokers, proprietary trading firms, CTAs, and hedge funds. Clients could benefit from flexible, scalable solutions designed to support their growth objectives, accelerate speed to market, and deliver a powerful, fully integrated trading experience for both institutional and professional retail market participants.
Under the agreement, Broadridge will acquire CQG’s core global trading technology business through the purchase of CQG, LLC and certain affiliated operating entities and assets. Terms of the transaction were not disclosed.
The transaction is not expected to have a material impact on Broadridge’s financial results and is expected to close in early in the firm’s fiscal fourth quarter subject to customary closing conditions, including regulatory approvals.