CQG, a provider of forex technology and software solutions, has announced its partnership with fellow forex firm DirectFX in an initiative to add OTC trading capabilities via third party First Derivatives Delta Flow platform, according to a First Derivatives company statement.
CQG is an electronic trading company that specializes across a variety of asset-classes, including a robust forex suite. Conversely, the Australian-owned broker DirectFX also maintains a diverse product offering across forex, CFDs, and precious metals, complete with multiple platform options for users. The new partnership will consolidate OTC trading capabilities though the use of First Derivatives Delta Flow trading platform – the Delta Flow platform.
First Derivatives has partnered with a variety of forex firms as of late, including Tullett Prebon, among others, having just launched a forex and OTC swaps facility roughly a year ago. According to Mike Glista, CQG's Director of Order Routing and Vice President of Continuum in a recent statement, "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. 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."
Multi-firm Deal Yielding Benefits For Each Player
Indeed, DirectFX will utilize the Delta Flow trading platform to help enable comprehensive forex rates and order management and execution capabilities to the CQG client base. On the basis of liquidity, an integral part of forex, the new accord will also be advantageous to First Derivatives, as it will help instill further liquidity to the Delta Flow platform.
According to DirectFX's CEO Joe O'Mara in a statement on the partnership, “we are confident that the inclusion of the strong FX price and execution capability being provided by the brokerage firm will represent a powerful addition to CQG's multi-asset client trading environment."
The Delta Flow platform is an innovative multi asset-class trading device for brokers, banks, high frequency trading firms (HFT), and both retail and institutional traders. Access to this tool was instrumental in the partnership between both CQG and DirectFX, specifically as it applies to and streamlines a variety of forex operations.
In addition, the Delta Flow Platform provides a vast array of functions and utilities:
- Direct Access to Liquidity
- Credit Management
- Enterprise Solution
- Regulatory Support
- Risk Management
- Business Intelligence
- Speed and Scalability
- Liquidity Aggregation
- Smart Order Routing
“First Derivatives is excited to be partnering with CQG and DirectFX to provide the underlying technology solution supporting the integration of DirectFX's best of breed foreign exchange pricing and execution into CQG's world class multi-asset class trading environment,” added John Beckert, MD at eTrading & Risk Management in an accompanying statement.
