New York, Denver, May 26, 2022 – FIA Tech, the leading technology provider to the exchange-traded derivative industry, announced today that CQG, a leading global provider of high-performance technology solutions for traders, brokers, commercial hedgers and exchanges, has joined the FIA Tech Databank Network.
Databank Network is FIA Tech’s initiative to bring together independent software vendors (ISVs), exchanges, clearing houses and other data providers into an interoperable global network simplifying the use of reference data, analytics and software solutions from participating firms.
Databank Network unifies reference data from over 80 exchanges and central counterparties (CCPs) globally, leading index providers including FTSE, MSCI, S&P and STOXX, and data vendors EDI and Factset. CQG is the first ISV to join the network.
Andrew Castello, Head of Reference Data at FIA Tech, said: “We are thrilled that CQG is joining Databank Network and CQG customers will have ready access to the industry services FIA Tech provides. This partnership is a further example of FIA Tech’s commitment to supporting the ISV community to further our mission to bring innovation to the derivatives industry.”
“We are delighted to join the Databank Network as the first ISV,” said Pat Kenny, Senior Vice President of Client Relations at CQG. “We’re pleased to be part of this industry-wide, global solution to streamline information for market participants and appreciate FIA Tech’s leadership on this effort.”
By incorporating CQG symbology into the global product reference data maintained on the Databank Network, CQG platforms will be fully interoperable with all FIA Tech services as well as other future ISV participants in the Databank Network. FIA Tech’s Databank provides firms with a cross-reference of exchange and vendor product symbologies, which can be used by subscribers to simplify integration of systems from best of breed providers, communicate more easily with clients and counterparties, and simplify integration to FIA Tech services.
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.
About FIA Tech
FIA Tech is the leading technology provider to the exchange traded derivatives industry. Owned since 2021 by a consortium of ten leading clearing firms and the Futures Industry Association, FIA Tech will be investing to further the development of existing products that have successfully served the industry and launch innovative new solutions to improve market infrastructure across the listed and cleared derivatives industry. FIA Tech works in close partnership with the broader industry, including exchanges, clearinghouses, clearing firms and other intermediaries, independent software vendors, buyside firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.
Current FIA Tech services include digitally managing give-up agreements, meeting regulatory compliance requirements arising from CFTC, MIFID II and exchange regulatory compliance, reconciling and settling brokerage fees and providing reference data products that are required across the pre- and post-trade space in futures and equity options.
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