Trade routing and market data firm, CQG, becomes the latest firm to announce that it is providing market data and execution gateway connections for CME Europe, which according to CQG, will be launching live on September 29th, subject to FCA approval. CME Europe, is the CME Group’s London based exchange that is targeting UK and European based financial institutions. On its inception, CME Europe will offer access to 30 of its FX futures trading products, before launching contracts in additional assets.
According to CQG, the company will be providing trade routing for CQG’s non-US entity customers who are CME Europe members, while providing market data to its global customer base. As an independent software vendor (ISV), CQG customers will be able to connect to CME Europe, using CQG solutions. The company will be co-locating its servers with CME Globex to ensure “the highest speed of data delivery and order execution and management”
Commenting in their public statement, Ryan Moroney, Product Manager for Market Data at CQG, said: “The launch of CME Group’s first exchange abroad is an exciting time for us as an ISV, and we look forward to delivering an excellent customer experience from the outset. Our connection to CME Europe will be of particular interest to foreign exchange traders executing orders through CQG’s hosted infrastructure, and can now take advantage of expanded access to global liquidity.”
In terms of client interest in CME Europe, before its launch, FortuneZ has reached out to CQG to learn more. As of publishing time, the company has yet to answer, and we will update this post as we find out more information.