Server-Side Aggregation

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Server-Side Aggregation
Trade similar instruments on two or more exchanges and let CQG’s servers manage where you get filled.

Server-side aggregation is part of CQG’s suite of server-side order management tools. You can automatically trade similar instruments on two or more exchanges and manage where the trades get filled based on your preferences. Unlike other vendors, CQG allows you to execute automated spreads where each leg of the spread is an aggregation of two or more markets.

Use CQG's market aggregation expression with CQG Spreader to increase your
liquidity pool.

You can aggregate instruments using CQG’s QFormula expressions. As with other QFormula expressions, you can set a variety of parameters, such as price ratio, quantity ratio, and price offset. CQG Aggregation has two modes of operation: Market Taking Mode, which is the default, or Market Making Mode.

Market Taking Mode
Your order is held on the gateway server until your price becomes available in at least one market; at which time, the gateway server sends an order to the exchange.

Market Making Mode
Your order is sent immediately to the exchanges based on your trading distribution preferences. The gateway server then manages your order to get you filled as quickly as possible at your price.

The CQG Aggregation expression is available in all CQG Integrated Client trading applications including DOMTrader®, Quote SpreadSheet, Enhanced Quote SpreadSheet, Order Desk, and Order Ticket.

To get started with CQG's server-side aggregation solution, contact CQG Customer Support.

Aggregation Flyer
Markets Covered
Spread Trading
US Treasuries