A new partnership is intended to help clients of both use new trading vehicles and transaction tools.
In the second quarter, the platform from trading solutions provider CQG will be able to stream pricing information about bitcoin (BTC) contract for difference (CFD) products from BlockFills, a digital asset trading and market technology provider, according to a new partnership between them.
BlockFills offers spot and derivatives trading across a variety of digital assets and offers software licensing solutions for all aspects of the digital asset trade lifecycle, officials add.
The move brings to CQG’s client base of market makers, traders, brokers, commercial hedgers, and exchanges “cryptocurrency pricing, delivered by BlockFills,” officials say. “Integration work on the first-of-its-kind partnership has already begun, and the firms expect to introduce the new offering by the end of the second quarter.”
For their part, BlockFills market participants will be able to use CQG’s technology and trading tools through their BlockFills account, officials add. “In addition, connectivity to BlockFills will provide liquidity access to CQG’s broad network of partners, including exchanges, brokerages, trading firms, and fintech companies across the globe.”
“Eligible BlockFills customers will be able to take advantage of CQG’s technology suite via its applications and API [application programming interface], including its popular spreading and algo tools. The initiative will begin with the streaming of BlockFills bitcoin (BTC) contract for difference (CFD) products, followed by spot and forwards. Exposure to fiat cash-settled derivatives products will be available through BlockFills’ London-based affiliate, Basis Capital Markets UK Ltd, regulated by the U.K. Financial Conduct Authority (FCA). Additional digital assets will be made available in the future,” officials say.
The partnership “will include more choices for our clients – including smaller contracts and weekly expiries,” says Kevin Darby, a vice president of execution technologies at CQG, and that makes for “an attractive proposition for us. We also believe really tight, liquid markets like those BlockFills offers, combined with our initiatives in A.I., will open up new trading opportunities for our customers and partners.”
CQG partners with many 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, officials say.
