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The 2022 FIA EXPO was held at the Sheraton Grand Chicago Riverwalk on November 14-15.

The derivatives trading industry came together to discuss the most relevant topics, including regulation, market structure, clearing, post-trade technology, sustainability, geopolitics, 24/7 trading, 7 days a week, direct market access and… crypto.

The (un)fortunate moment – the dramatic collapse of FTX – made crypto the hottest topic at an event packed with established and reputable players within the derivatives industry, many of whom plan to make their first steps in the emerging asset class.

Such is the case with CQG, a company that has been around for over 40 years and recently became the first independent software vendor (ISV) to join the FIA ​​Tech Databank network to help the ecosystem grow further and give The example. .

CQG One Brings Advanced Features to Cloud-Based Trading and Analytics Platform

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Ryan Moroney, Managing Director of CQG, one of the biggest names in the derivatives trading technology space.

The company launched CQG One earlier this year. The cloud-based HTML5 trading and analytics platform combines the ease of use of CQG’s retail-oriented CQG Desktop platform, with market data, charts, visualization and advanced features of its flagship professional trading platform, CQG Integrated Client.

“We wanted CQG One to bridge the gap between the two, taking the advanced features of the built-in client and bringing them to the new platform, including server-side streaming tools, low-latency algorithms, number of chart types and more,” he said, promising to continue adding features to CQG One, with a set roadmap for the next three years.

CQG One is sold exclusively through FCM, not through direct licensing with customers. “We consider brokers as our main partners. They have provided a lot of feedback so that they can offer it to their clients.

The company has also taken a new approach to its business as it no longer sees itself exclusively as a product developer, but also as a platform through which people can interact and create their own widgets and add them to the platform. -shape and market to their users, Moroney explained.

CQG enters institutional crypto via Optio Research

CQG is also venturing into the digital asset space through a separate entity called Optio Research, which focuses on developing decentralized cryptocurrency infrastructure and trading solutions for institutional investors.

The initiative is the product of a joint strategic investment by CQG and NUTS Finance, designed to bridge the worlds of traditional finance (TradFi) and the rapidly growing decentralized finance (DeFi) space.

The official announcement was made at the end of October; they had no idea FTX would crash, but the cataclysmic event proved CQG’s Moroney right about the company’s approach to crypto.

“If we partner with the wrong companies, there is a reputational risk for a company like ours. So where are we going in space? We formed a four-person task force earlier this year to determine if there is anything out of the box we can do, while controlling our risk…”

Enter Optio Research, co-founded by CQG and NUTS Finance. The new company will announce a major project for the institutional options space in a few weeks, Moroney told FinanceFeeds.

“Overall, we think crypto will survive; we believe it will mature. Institutions will come and when they do, they will expect institutional-grade tools,” he continued, adding that their goal now is to help build the crypto options market the way it should have. ‘be. By doing this through the Optio Research entity, the company is not taking any reputational risk in the process.

CQG Managing Director Ryan Moroney also believes the best time to build is in a bear market, as many competitors are not fully engaged. So when it picks up again, they’ll be too late. The company believes there will be another major institutional adoption move, but “when” remains unknown.[, particularly based on recent events].

The experienced company has learned over its four decades in the industry that there will always be external events to deal with and that what matters is hard work, quality products and the right principles. As long as these remain intact, the company can be knocked down by financial crises and it will recover [and keep going].

Ryan Moroney also talked about CQG’s play in the algo space by acquiring [software from] Blue Trading Systems (BTS) in mid-2020. The company launched its algo product earlier this year: a suite of execution technologies including preconfigured sophisticated trading algos and a software development kit. These work standalone or as an integrated element in the CQG platform. The business has been growing two to three times a month and is starting to see inbound demand. Word of mouth is the primary growth driver for the algo division as traders talk to each other.

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