WASHINGTON (dpa-AFX) - A Fintech company, Broadridge Financial Solutions, Inc. (BR) and CQG, Inc., on Friday announced an agreement to acquire high-performance technology solutions CQG to expand its trading and connectivity capabilities across global derivatives markets.
The financial terms of the deal were not disclosed.
The transaction is expected to close early in Broadridge's fiscal fourth quarter, ending June 30
The acquisition will add CQG's execution management, algorithmic trading and analytics capabilities to Broadridge's order management and client connectivity solutions, creating an end-to-end trading platform for global futures and options markets.
The expanded offering is expected to support a broad client base, including futures commission merchants, institutional investors, retail brokers, proprietary trading firms, commodity trading advisors and hedge funds.
The transaction is not expected to have a material impact on Broadridge's financial results.
In the pre-market trading, Broadridge Financial Solutions is trading 0.04 cents lesser at $193.50 on the New York Stock Exchange.
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