01 July 2015

CQG and DirectFX partner to add OTC FX trading over the CQG network

07 April 2014  |  944 views  |  0 Source: First Derivatives

First Derivatives (FD) (AIM:FDP.L, ESM:GYQ.I), a leading provider of software and consulting services to the capital markets industry today announces today that CQG, a provider of global market data and advanced technical analysis, has partnered with DirectFX, one of the world's leading foreign exchange firms, to add OTC trading capabilities using First Derivatives Delta Flow trading platform.

The new agreement expands CQG's FX market data and trade routing offering over CQG FX, a platform for foreign exchange professionals.

DirectFX will use the Delta Flow product from First Derivatives to provide FX rates and order management capabilities to CQG clients using their existing trading screens. Delta Flow is built on the Delta platform developed by First Derivatives and used by the world's largest banks, exchanges and hedge funds for high performance, low latency trading applications. The partnership will bring further liquidity to the Delta Flow platform.

"We are pleased to bring two significant developments to our FX-trading customers: a product tailored to their particular requirements in the form of CQG FX and, at the same time, access to greater liquidity through our agreement with DirectFX," said Mike Glista, CQG's Director of Order Routing and Vice President of Continuum. "This most recent addition to our FX offering represents our continued efforts to deliver broad global market coverage while also specific tools to address particular trading needs."

DirectFX's CEO Joe O'Mara commented: "We are confident that the inclusion of the strong FX price / execution capability being provided by the brokerage firm will represent a powerful addition to CQG's multi-asset client trading environment."

John Beckert, MD eTrading & Risk Management stated: "First Derivatives is excited to be partnering with CQG and DirectFX to provide the underlying technology solution supporting the integration of DirectFX's best of breed foreign exchange pricing and execution into CQG's world class multi-asset class trading environment." 

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