At FIA Boca, CQG, Inc. announced live connectivity to Eris Exchange, a U.S.-based futures exchange offering swap futures as a capital-efficient alternative to OTC swaps.
The new connection provides CQG customers with access to Eris Swap Futures for market data, analytics, and trade execution through an array of CQG trading platforms.
The connection capitalizes on CQG's strengths in market data access and low-latency trade routing. CQG offers direct access to Eris through all of its platforms, including its flagship platform, CQG Integrated Client, which provides global market data and innovative trading interfaces for electronic trading and order management. CQG's client APIs make it possible to seamlessly deliver market data, analytics, and order routing to external applications.
"We have been focusing on expanding our product both globally and into new asset classes. Our connection to Eris SwapBook allows us to offer our customers a gateway into the innovative swap futures market," said Mike Glista, CQG Director of Order Routing.
For fixed income and futures cash spread trading, CQG Spreader allows Eris traders to route orders and work intermarket orders against legs on BrokerTec, NASDAQ eSpeed, as well as other U.S. Treasury providers.
"CQG offers Eris Exchange market participants a unique set of charting and analytics tools to identify new strategies and execute with precision," said Michael Riddle, Chief Operating Officer of Eris Exchange. "The wide array of OTC, cash treasury and futures markets available to CQG users provides traders with exceptional flexibility when building trading structures and expressing views using Eris Swap Futures."
Trading activity on Eris Exchange has accelerated significantly in recent months, with Eris posting nine consecutive quarters of open interest growth in Eris Swap Futures. On Tuesday, March 3, Eris experienced its second highest volume trading day ever with 19,156 contracts traded, and subsequently set a new open interest record of 150,567 contracts.
CQG and Eris announced their partnership late last year and have been developing the connection since that time.