CQG to provide trading tech for ErisX crypto exchange

Eris Exchange will implement the CQG Desktop trading platform on its new crypto derivatives marketplace.

Eris Exchange has chosen to use CQG’s front-end trading platform for its new marketplace for digital asset spot and future contracts.

Known as CQG Desktop, the platform will provide the cryptocurrency derivatives exchange with trading and data tools including market data, charting and analytics.

“We were impressed with the range of trading tools that were included in CQG’s platform offering and are pleased to offer CQG Desktop as our front-end trading provider,” said Thomas Chippas, CEO at ErisX and Citi’s former head of quantitative execution. “We are working with a robust group of leading class technology and service providers to improve the digital asset trading experience.”

Eris Exchange confirmed plans to launch ErisX earlier this month in a venture that is backed by the likes of major institutional players such as Virtu Financial, DRW, Cboe Global Markets and Nex Group.

The crypto marketplace has been designed to provide a more regulated, transparent and stable venue to the digital asset market, with the reliability of a traditional centralised exchange.

“We see the value that ErisX brings to the digital asset space and are excited to partner with them to present the spot crypto markets together with futures contracts on a single platform,” added Ryan Moroney, president at CQG.

“In an industry in need of this level of security and transparency, we believe ErisX will open these markets to many of our institutional partners and help move this emerging market forward.”

ErisX will initially provide trading in Bitcoin, Litecoin, Ethereum and Bitcoin Cash, with futures contracts on each that will be physically delivered. It is also looking to clear the products itself and has a derivatives clearing organisation license application pending with the CFTC.