CQG is set to undergo a transformation as a group of its senior executives prepares to acquire the company. The firm, renowned for
its technology solutions tailored to market makers, traders, brokers,
commercial hedgers, and exchanges, has been privately held since its inception
in 1980.
The company’s Founder, Tim Mather, has been at the
helm, steering its growth for over four decades. However, an agreement has been
reached, with the transaction expected to be completed this month. According to
the company’s official statement, ownership will be transferred from Mather to the senior officials.
Ryan Moroney, who took the reins as the CEO in 2021, will succeed Mather. He has expressed enthusiasm about this transition, highlighting the
firm’s focus on a transition plan that would ensure the stability of the
company.
Moroney said: “Tim and I have been
intently focused on a transition plan when he was ready to step away that would
put the company in the strongest position while serving the best interests of
our customers and employees. This is a fantastic outcome for all of our
stakeholders, and we’re so grateful to Tim for his integrity and unwavering
devotion to the business, our people, and our unique culture for more than four
decades.”
CQG Enters into Agreement on Acquisition by Group of its Senior Executives. Read the full press release at the link. https://t.co/KylKKdt7mQ pic.twitter.com/MMLx1Yt8BV
— CQGInc (@CQGInc) November 9, 2023
CQG’s journey has been marked by a relentless
pursuit of global expansion. Initially providing front-end trading
software to US traders, the company expanded to Europe in 1988 and ventured
into Asia a decade later. This expansion has reportedly broadened its product
offerings and diversified its client base.
Headquartered in Denver, CQG has established a
global presence with offices and data centers in major financial centers
worldwide, including Chicago, New York, London, Frankfurt, Tokyo, Sydney,
Singapore, and Shanghai. Its services span across more than 60 countries.
CQG’s Expansion Strategy
In March, CQG announced a strategic partnership with
Broadridge Financial Solutions, a publicly-listed fintech giant based in the
United States. The aim of this partnership revolved around the integration of the Order Management System and Execution Management System.
CQG established a FIX connection into Broadridge
to facilitate direct order flow from its platform to Broadridge’s
infrastructure, subsequently directed to its network of liquidity providers and
exchanges.
Besides that, CQG has expanded its services into the emerging sectors in finance. Last year, the firm partnered with NUTS Finance, a blockchain development company. The duo launched Optio Research, a platform for developing trading solutions and decentralized crypto infrastructure for institutional-grade traders.
CQG is set to undergo a transformation as a group of its senior executives prepares to acquire the company. The firm, renowned for
its technology solutions tailored to market makers, traders, brokers,
commercial hedgers, and exchanges, has been privately held since its inception
in 1980.
The company’s Founder, Tim Mather, has been at the
helm, steering its growth for over four decades. However, an agreement has been
reached, with the transaction expected to be completed this month. According to
the company’s official statement, ownership will be transferred from Mather to the senior officials.
Ryan Moroney, who took the reins as the CEO in 2021, will succeed Mather. He has expressed enthusiasm about this transition, highlighting the
firm’s focus on a transition plan that would ensure the stability of the
company.
Moroney said: “Tim and I have been
intently focused on a transition plan when he was ready to step away that would
put the company in the strongest position while serving the best interests of
our customers and employees. This is a fantastic outcome for all of our
stakeholders, and we’re so grateful to Tim for his integrity and unwavering
devotion to the business, our people, and our unique culture for more than four
decades.”
CQG Enters into Agreement on Acquisition by Group of its Senior Executives. Read the full press release at the link. https://t.co/KylKKdt7mQ pic.twitter.com/MMLx1Yt8BV
— CQGInc (@CQGInc) November 9, 2023
CQG’s journey has been marked by a relentless
pursuit of global expansion. Initially providing front-end trading
software to US traders, the company expanded to Europe in 1988 and ventured
into Asia a decade later. This expansion has reportedly broadened its product
offerings and diversified its client base.
Headquartered in Denver, CQG has established a
global presence with offices and data centers in major financial centers
worldwide, including Chicago, New York, London, Frankfurt, Tokyo, Sydney,
Singapore, and Shanghai. Its services span across more than 60 countries.
CQG’s Expansion Strategy
In March, CQG announced a strategic partnership with
Broadridge Financial Solutions, a publicly-listed fintech giant based in the
United States. The aim of this partnership revolved around the integration of the Order Management System and Execution Management System.
CQG established a FIX connection into Broadridge
to facilitate direct order flow from its platform to Broadridge’s
infrastructure, subsequently directed to its network of liquidity providers and
exchanges.
Besides that, CQG has expanded its services into the emerging sectors in finance. Last year, the firm partnered with NUTS Finance, a blockchain development company. The duo launched Optio Research, a platform for developing trading solutions and decentralized crypto infrastructure for institutional-grade traders.
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- Source: https://www.financemagnates.com//institutional-forex/cqg-announces-ownership-transfer-to-senior-executives-in-major-shift/
