CQG to Offer Day One Connectivity to NASDAQ OMX NLX

CQG will offer low-latency, hosted connectivity to NASDAQ OMX NLX . NLX, the new London derivatives market, will offer a range of both short-term interest rate (STIRs) and long-term interest rate (LTIRs) euro- and sterling-based listed derivative products, subject to Financial Conduct Authority approval.

“Our forthcoming connection to NLX ensures we continue to offer our customers access to the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term required for best Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of their trading strategies,” said Rod Giffen, Chief Operating Officer at CQG. “We look forward to helping traders expand their reach with exceptional speed and performance through our hosted Direct Market Access beginning with the day one open.”

This new connectivity is an important addition to the liquidity pool available to traders accessing European interest rate products through CQG’s trading gateways. With CQG’s robust market aggregation tool, traders will be readily able to seek fills on the NLX market as part of their price and quantity trading objectives.

Market aggregation can be used in conjunction with CQG Spreader for low-latency execution of orders comprised entirely of aggregated legs or any combination of outright and aggregated legs. The smart order routing capabilities of CQG’s aggregation help achieve best execution by allowing traders to set personal preferences, including the preferred market.

“From an early stage in the development of NLX we have focused on partnering with vendors who facilitate ease of connectivity to our market”, said Charlotte Crosswell, CEO of NLX. “We are delighted that CQG will provide market data and trade execution so their customers can benefit from accessing our market.”

NASDAQ OMX NLX will launch with six interest rate futures products: Euribor, Sterling, Long Gilt, Schatz, Bobl, and Bund contracts. The exchange has partnered with LCH.Clearnet to clear all products.