CQG, a global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedgers, and exchanges, has formed a partnership with Broadridge Financial Solutions to combine their respective Execution Management Systems (EMS) and Order Management Systems (OMS).
Ryan Moroney, the chief executive officer of CQG, stated, “We think this strategic relationship will provide our mutual consumers with convenience and tremendous cost savings prospects. Instead of choosing between an OMS and an EMS, businesses will be able to implement an enterprise solution that provides both to their internal desks and external clients.”
Combining CQG’s front-end trading technology with Broadridge’s Order Management System and the NYFIX network will be a first-of-its-kind out-of-the-box solution for institutional clients seeking a complete front-, middle-, and back-office technology suite.
These sorts of agreements complement Broadridge’s approach to the OMS’s open design.
CQG established a FIX link with Broadridge to enable order traffic from CQG to be handled and routed directly to Broadridge’s network of exchanges and liquidity providers.
Further development will be completed to enable a streamlined workflow between the two platforms.
In either system, viewing and controlling orders will be possible and synchronized.
Clients are able to stage orders, apply algorithmic logic to current orders, splice, and bundle orders, and manage allocations, among other capabilities.
Historically, clients were responsible for stitching together a solution from a range of technology vendors, incurring additional labor and expense to make these technologies function together.
Together, CQG and Broadridge anticipate increasing the workflow of their institutional clients and delivering “best-in-class execution and order management,” according to Moroney.