First Derivatives, CQG and DirectFX partner to add OTC FX trading over the CQG network using First Derivatives technology
British financial software and consulting firm First Derivatives (AIM:FDP.L) has today announced that OTC FX trading will become available via the company’s Delta Flow trading platform over the CQG network.
This addition to CQG’s service is to be instigated via CQG’s partnership with FX brokerage Direct FX which will add OTC trading capabilities to its offering by using First Derivatives Delta Flow platform. According to First Derivatives, the new agreement expands CQG’s existing market data and trade routing service over the company’s professional FX platform CQG FX.
Direct FX will use the Delta Flow product from First Derivatives to provide FX rates and order management capabilities to CQG clients using their existing trading screens. Delta Flow is built on the Delta platform developed by First Derivatives and used by the world’s largest banks, exchanges and hedge funds for high performance, low latency trading applications. The partnership will bring further liquidity to the Delta Flow platform which is part of First Derivatves’ Delta Suite group of products which includes the Delta Stream software which Australia’s national financial regulator ASIC uses to conduct real time surveillance on electronic trading firms to monitor compliance adherence.
“We are pleased to bring two significant developments to our FX-trading customers: a product tailored to their particular requirements in the form of CQG FX and, at the same time, access to greater liquidity through our agreement with DirectFX,” stated Mike Glista, CQG’s Director of Order Routing and Vice President of Continuum. on behalf of the company.
“This most recent addition to our FX offering represents our continued efforts to deliver broad global market coverage while also specific tools to address particular trading needs” he concluded.
Direct FX’s CEO Joe O’Mara commented: “We are confident that the inclusion of the strong FX price / execution capability being provided by the brokerage firm will represent a powerful addition to CQG’s multi-asset client trading environment.”
John Beckert, MD eTrading & Risk Management at First Derivatives made a corporate statement today that : “First Derivatives is excited to be partnering with CQG and Direct FX to provide the underlying technology solution supporting the integration of Direct FX’s best of breed foreign exchange pricing and execution into CQG’s world class multi-asset class trading environment.”