CQG, a leading global provider of high-performance technology solutions for traders, brokers, commercial hedgers, and exchanges, today announced that it has just completed a transaction to license certain software assets from Blue Trading Systems (BTS).
The move will give CQG an exclusive, comprehensive suite of custom algorithmic strategies to offer clients, along with new low-latency spread routing for spread traders.
The new, cutting-edge technology is designed to give traders access to strategies offering the best execution across a range of markets. CQG is integrating the new algos and execution logic into its full suite of trading products, allowing for a range of choices for traders and brokers who seek anything from low-cost, easy-to-use products to more advanced, sophisticated trading platforms.
The firm also announced that Kevin Darby, formerly Co-Founder and Managing Partner of BTS, has joined CQG as a Product Manager, overseeing the product strategy for its spreader and algo offerings. In that role he will also oversee the integration and implementation of the new customized CQG offering based on the BTS software.
When the integration is complete, CQG's existing infrastructure, coupled with new low-latency spread routing, will give new power to traders and hedgers, letting them decide when to turn on faster routing in some markets and standard order routing in others. CQG's industry-leading simulation and back-testing tools will allow users to test strategies in as near real-market conditions as possible. They can then leverage transaction cost analysis (TCA) features to review performance, giving users full visibility into the benefits of deploying their proposed strategies.
CQG President Ryan Moroney said: "One of the things that stands out from the market activity over the last few months has been the incredible velocity with which markets can react to world events. During this time of high volatility, we had numerous internal discussions on product enhancements we could make to provide our customers with new solutions designed for these market conditions. We've known the BTS team for a few years and have always admired the care that has gone into its products. When the opportunity came up to license the BTS code as well as to bring Kevin on to lead the new offering, we seized on it. This approach provides us with the basis for building a high-performance algo and spreading platform that will allow our customers to thrive in markets like these."
Darby said: "I'm thrilled to join the highly skilled and well-respected group of professionals at CQG in an effort to build out both a comprehensive institutional algo suite and a new, faster spreader platform. Licensing the BTS code affords us a familiar low-latency foundation on which to pursue this exciting endeavor."