Trading platform provider CQG is to provide low-latency trade routing and market data for Turkish Derivatives Exchange (TurkDEX).
CQG's hosted trading gateway will provide access to the TurkDex ISE-100 Index, ISE-30 Index, Turkish lira/euro, and Turkish lira/US dollar contracts. Spread traders should also be able to trade and manage inter- and intra-exchange spread strategies for TurkDEX products via CQG Spreader, a low-latency spreader product.
TurkDEX has reported increased trading volumes since its launch in 2005, claiming a rise of 45% during 2009.
“The connectivity to TurkDEX further positions us toward our goal to provide worldwide market access with the lowest possible latency and highest possible reliability,” said Mike Glista, CQG's director of order routing. “Both local and international traders will benefit from our superior order execution tools and seamless trading access to the Turkish Derivatives Exchange.”
TurkDEX has made a series of investments to upgrade its infrastructure over the last year. On 23 November 2009 it also announced it would use system supplier Aleri's complex event processing engine to provide market surveillance. It selected technology provider Patsystems to build its matching, clearing and settlement system on 14 December 2009, a project scheduled for completion in November 2010.