CQG News | CQG Launches New Comprehensive Suite of Execution Technologies

▤ Summary

The new initiative builds an entire suite of functionality off of the infrastructure of cutting-edge software assets CQG acquired from Blue Trading Systems (BTS) in June 2020. Each algorithm is built to track or beat benchmarks with specific implementations dedicated to in-depth analysis of microstructure, resulting in more passive order fills; • Custom Algo SDK – A software development kit allowing users to mix and match CQG Algos with their own custom C++ algorithms, minimizing development and testing cycles; • Algo API – A client-side interface used to control and compose server-side algorithms running inside of Custom Algo SDK, coupled with an evolving set of back-testing and analysis tools; • AlgoAnalytics – An augmented transaction cost analysis (TCA) tool that provides a transparent view into the core value proposition of the offering, with benchmark and micro-structure analysis; • Internalization Engine that allows large banks and brokerage firms to match orders from different clients internally, giving them cross-trade opportunities that reduce exchange fees and compliance risk, and providing a file or audit records of internalized orders to post to back-office systems; • Server-side Aggregation that provides a pooled liquidity view of cross-listed, fungible assets while allowing smart order routing into the constituents of the pool, according to user preferences. Also in the works are new components slated for introduction later this year and in 2022, including: • Additional algorithmic order types for multi-leg futures trading and a suite of options algorithms; • CQG Spreader 2.0 – a sophisticated new version of the firm’s existing functionality, which will include new low latency spread routing, with considerably faster execution times that allow users to employ their existing CQG Spreader interface. Darby said: “Our core technology for CQG Algos facilitates ultra-low latency access to markets with an emphasis on strong, lightning-fast analytics, as well as flexible, reliable algorithms. Through novel implementation of order types, we’re able to deliver high-quality fills with the goal of reducing implicit trading costs and market impact involved in accumulating a listed derivatives position for buy-side firms.

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CQG

$50M to $100M