CQG, announced today that it will provide low-latency trade execution and real-time market data for futures products traded on ELX Futures, L.P. (ELX Futures) starting the day ELX Futures begins live trading.
ELX Futures received regulatory approval from the Commodity Futures Trading Commission (CFTC) on May 27, 2009 to become a Designated Contract Market and will begin live trading later this month.
CQG is adding ELX Futures connectivity to its growing network of collocated Hosted Exchange Gateways, which already provide trade routing to over 25 exchanges worldwide. Because CQG builds, maintains, and operates the exchange gateway infrastructure, traders and their FCMs can connect to CQG supported exchanges with virtually no capital investment. CQG's development of exchange collocated gateways for ELX Futures gives traders ultra-low latency trade routing to go along with CQG's industry leading technical analysis tools for ELX market data.
Neal Wolkoff, Chief Executive Officer of ELX Futures, said, "We are pleased to be partnering with CQG to provide trade routing connectivity and market data access for ELX Futures contracts. We are confident that ELX Futures will be a much needed competitive alternative in the futures marketplace."
"Our institutional customers have expressed interest in adding trading on ELX to the other exchanges they already access through CQG," said Josef Schroeter, President of CQG. "We are glad to meet that demand by providing connectivity from the first day of live trading."
ELX Futures is in the midst of intensive testing and plans to announce a launch date, fee schedule, and other important facts about its start of business in the coming days. ELX Futures is still on target for a June 2009 start of operations with an initial product slate in U.S. Treasury futures contracts.