CQG Enters into Agreement on Acquisition by Group of its Senior Executives
Until now, the firm has been owned by Tim Mather, who founded the company in 1980.
DENVER, Nov. 9, 2023 /PRNewswire/ -- CQG, a leading global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedgers and exchanges, today announced that the privately held company has entered into an agreement for a group of its senior executives to acquire the company. Until now, the firm has been owned by Tim Mather, who founded the company in 1980. Details of the transaction, expected to be completed this month, were not disclosed.
CQG CEO Ryan 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. We're truly excited about this agreement, which ensures stability, continuity of leadership, control of our own destiny and reinforcement of our commitment to innovation to meet our clients' needs going forward. 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."
He said the company has been on a strong growth trajectory for years, including through the establishment of new strategic partnerships, further expansion of its product offerings and connectivity to additional markets.
Moroney assumed the role of CEO in 2021, succeeding Mather in the position after serving as President since late 2017. "Tim believes strongly in the senior leadership team in place and our ability to take CQG forward in the decades to come," Moroney said.
After initially providing front-end trading software to U.S. traders, CQG expanded to Europe in 1988 and Asia 10 years later, significantly expanding its products, services and client base over the past two decades. Headquartered in Denver, the firm has sales and support offices and data centers in financial centers throughout the world, including Chicago, New York, London, Frankfurt, Tokyo, Sydney, Singapore and Shanghai, and provides services in more than 60 countries.
About CQG
CQG provides the industry's highest performing solutions for traders, brokers, commercial hedgers and exchanges for their market-related activities globally, including trading, market data, advanced technical analysis, risk management, and account administration. The firm partners with the vast majority of 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. CQG technology serves as the front end for a variety of exchanges and is increasingly employed as the over-the-counter matching engine for important new markets. CQG's server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease of use. Its market data feed consolidates 85 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. One of the longest-serving technology solutions providers in the industry, CQG has won numerous awards for its trading software, technical analysis and multi-asset trading platform. CQG is headquartered in Denver, with 16 sales and support offices and data centers in key markets globally. For more information, visit www.cqg.com.
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SOURCE CQG
