Leading fintech solutions provider Broadridge Financial Solutions Inc (NYSE:BR) has announced that it has entered into an agreement to acquire CQG, a leading provider of futures and options trading, execution management, and market connectivity. CQG will add complementary execution management, algorithmic trading, and analytics capabilities to Broadridge’s order management and client connectivity solutions, creating an end-to-end trading suite for global futures and options markets.
Frank Troise, President of Broadridge’s Trading and Connectivity Solutions business said,
“The acquisition of CQG will accelerate Broadridge’s mission to deliver advanced, highly connected trading solutions on a global scale. Integrating CQG’s advanced execution management, analytics, and connectivity technologies with Broadridge’s leading order management and connectivity solutions will create a unified platform in futures and options that simplifies trading complexity, improves transparency and workflow efficiency, and enhances Broadridge’s digital asset trading capabilities.”
Ryan Moroney, CEO of CQG said,
“We are truly excited to combine CQG’s nimble approach and powerful front-office execution management, analytics and connectivity solutions with Broadridge’s deep global reach and front-to-back capabilities. The trading experience of our collective clients will be defined by speed, intelligence, and scale, enabling them to trade smarter, access new markets, and adapt faster in an increasingly dynamic marketplace. The CQG team is truly excited to join a company with the history and successful track record of Broadridge.”
The expanded offering is designed to better support the evolving needs of clients across a broad spectrum of segments, including FCMs, institutional investors, retail brokers, proprietary trading firms, CTAs, and hedge funds. Clients will benefit from flexible, scalable solutions designed to support their growth objectives, accelerate speed to market, and deliver a powerful, fully integrated trading experience for both institutional and professional retail market participants.
The acquisition also accelerates Broadridge’s ongoing innovation strategy across asset classes, spanning futures and options, FX, and digital assets. Aligning CQG’s agile development approach with Broadridge’s global scale will enable the delivery of new functionality faster, while driving continuous value creation for clients worldwide.
Under the agreement, Broadridge will acquire CQG’s core global trading technology business through the purchase of CQG, LLC and certain affiliated operating entities and assets. Terms of the transaction were not disclosed. The transaction is not expected to have a material impact on Broadridge’s financial results and is expected to close in early in Broadridge’s fiscal fourth quarter subject to customary closing conditions, including regulatory approvals.
About Broadridge
Broadridge Financial Solutions is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in equities, fixed income, and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.
About CQG
CQG provides the industry’s highest performing solutions for traders, brokers, commercial hedgers and exchanges for their market-related activities globally, including trading, market data, advanced technical analysis, risk management, and account administration. The firm partners with the vast majority of futures brokerage and clearing firms and provides Direct Market Access (DMA) to more than 45 exchanges through its global network of co-located Hosted Exchange Gateways. CQG technology serves as the front end for a variety of exchanges and is increasingly employed as the over-the-counter matching engine for important new markets. CQG’s server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease of use. Its market data feed consolidates 85 sources, including exchanges worldwide for futures, options, fixed income, foreign exchange, and equities, as well as data on debt securities, industry reports, and financial indices. One of the longest-serving technology solutions providers in the industry, CQG has won numerous awards for its trading software, technical analysis and multi-asset trading platform. CQG is headquartered in Denver, with sales and support offices and data centers in key markets globally, providing services in more than 60 countries.
