DENVER – Nov. 9, 2023 – 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.
Source: CQG
