Broadridge to acquire futures trading firm CQG

Broadridge Financial Solutions Inc. (NYSE: BR) announced it has entered into an agreement to acquire CQG, a provider of futures and options trading, execution management and market connectivity services.

The acquisition will combine CQG's execution management, algorithmic trading and analytics capabilities with Broadridge's order management and client connectivity solutions to create an integrated trading platform for global futures and options markets.

"Our combined capabilities will provide a global multi-asset class trading experience defined by speed, scale and intelligence," said Ryan Moroney, CEO of CQG.

Frank Troise, President of Broadridge's Trading and Connectivity Solutions business, stated that integrating CQG's technologies with Broadridge's existing solutions will create a unified platform that "simplifies trading complexity, improves transparency and workflow efficiency, and enhances Broadridge's digital asset trading capabilities."

The companies did not disclose financial terms of the transaction, which Broadridge said is not expected to have a material impact on its financial results. The deal is expected to close early in Broadridge's fiscal fourth quarter ending June 30, subject to customary closing conditions and regulatory approvals.

CQG, headquartered in Denver, provides market data and trading technology to futures brokerage firms and offers direct market access to more than 45 exchanges through its network of co-located gateways. The company serves futures commission merchants, institutional investors, retail brokers, proprietary trading firms, commodity trading advisors and hedge funds.

Broadridge processes over 7 billion communications annually and supports daily trading volumes averaging over $15 trillion in equities, fixed income and other securities globally. The company employs over 15,000 associates in 21 countries.

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