Thomson Reuters Expands Links to Futures Markets

Terry Flanagan

Thomson Reuters has expanded access to liquidity across its global order routing network by adding additional connections to U.S. futures markets through an agreement with CQG, a Direct Market Access (DMA) platform for the global futures markets.

Financial markets professionals trading in futures markets are now able to trade with an additional 65 Futures Commission Merchants (FCMs) using their existing connections to Thomson Reuters Autex Trade Route.

“We are committed to creating the world’s largest FIX order routing network, connecting communities across the world and across asset classes,” said Brennan Carley, global head of platform and transactions at Thomson Reuters. “We have seen increased demand for DMA services in asset classes beyond cash equities as well as increased adoption of FIX in futures and options. We have entered this agreement with CQG to build on our commitment to connect and enable global financial markets.”

The agreement with CQG provides Autex Trade Route customers with DMA to global futures exchanges through an additional 65 Future Commission Merchants, using CQG’s Direct Market Access service.

CQG’s enterprise solutions division, Continuum, powers futures trade routing through its FIX Connect API. Through FIX Connect, traders using Autex Trade Route are able to access CQG’s globally distributed system of hosted exchange gateways for order routing. By providing close proximity to exchange servers, this hosted DMA platform provides low-latency trading, regardless of a trader’s geographic location, on futures markets throughout the Americas and across Europe and Asia-Pacific.

“Our partnership with Thomson Reuters is an excellent demonstration of Continuum’s proven ability to provide solutions that meet specific customer demands. In this case, we’ve quickly and seamlessly supplied Thomson Reuters already expansive Autex network of buy and sell-side firms with advanced trading access to a number of key participants in the futures markets,” said Mike Glista, vice president of Continuum and CQG’s director of order routing.

Thomson Reuters Autex Trade Route delivers order flow of two billion shares per day in equities, options and futures, as well as FX and fixed income. Thomson Reuters Autex is also an order indication and advertised trade service, providing market professionals access to a large pool of global trading liquidity. It receives streaming indications of interest from trading partners across the globe, and processes more than five million messages per day through a network of over 750 buy-side institutions.

CQG provides high-performance trade routing, global market data, and advanced technical analysis. It partners with more than 80 FCMs and provides DMA to more than 40 exchanges through its global network of co-located Hosted Exchange Gateways.

CQG’s server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease-of-use. CQG’s market data feed consolidates more than one hundred 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.

Continuum, a division of CQG, offers trade execution and data distribution for order execution and market data platforms, applications, and proprietary systems.

Related articles

  1. Allowing algorithms to control the supply and demand of crypto was challenged by Terra Luna.

  2. CME Boosts European Energy Business

    Infrastructure and sustainability will be one of the biggest opportunities in alternative investments.

  3. The broker's algo development team gains access to high quality, granular Level 3 data.

  4. Trading Europe From ‘Across the Pond’

    Bank aims to gain share from its systematic approach to trading, market structure proficiency and modern techn...

  5. The firm will be rolling out algos for institutions to navigate crypto market structure.