Quotes Direct provides fast and reliable market data feeds using the industry-standard FIX formats.
Customers who already have a solution for FIX data feed processing (especially CME FIX/FAST) will benefit from the straightforward implementation process of Quotes Direct.
Quotes Direct vs. CME FIX/FAST
Quotes Direct is designed to be as close to CME FIX/FAST 2.0 as possible. However, some technical characteristics of the system were changed in order to provide maximum productivity.
Divergences from the CME FIX/FAST:
•CQG provides one incremental channel and one snapshot channel with no hot swap possibility instead of the identical A and B incremental and snapshot UDP multicast groups. A TCP Replay service is used to recover lost/corrupt data when needed.
•CQG provides a TCP Instrument Definition channel instead of public access to the Instrument Definition Feed.
•CQG does not limit the DOM depth, so the DOM book can grow indefinitely.
•CQG provides implied and combined (i.e., implied + explicit) book updates.
•For options, CQG sends combined BBA and only 1-level DOM book updates.
Refer to the Quotes Direct Message Specification for a more technical and complete presentation of other divergences.
A FIX Client Model
A general-purpose FIX client model may have the following functional components:
•A Communication Manager to conduct and monitor the logon and security definition update processes.
•A FIX parser armed with the active Quotes Direct templates to interpret the Incremental and Snapshot feeds.
•Failover management to request data replay when data is not received correctly.
The Road from Exchanges to Traders
When CQG receives raw market data from the exchanges, the Quotes Direct system interprets and translates this data into standard compliant FIX messages and broadcasts it over Incremental and Snapshot UDP multicast group feed channels.
Customers design their FIX client systems to interpret the data according to their preferences and needs.
CQG Integrated Client and CQG API Market Data Feeds
In addition to Quotes Direct, CQG also offers financial data consumers CQG Integrated Client (CQG IC) and CQG API market data feeds
To request a testing environment or for more information, contact Sales@CQG.com.
From the market data feed point of view, the CQG Integrated Client (CQG IC) is a one-stop solution, optimized to serve individual traders and decision makers. Without the CQG API described below, it has limited data export capabilities.
CQG API was created to make CQG IC data and functionality available to customer applications.
Our API can be used to retrieve real-time market data, account and position data; perform order management; and retrieve historical data. The API enables customers to create their own customized and automated systems using data that is available via CQG IC.
CQG API is an automation server component and is convenient to use from any application written in VB, C#, C++, or any other language that supports automation technologies. If you are familiar with Excel Object Model, working with the CQG API should be rather an easy transition for you.
CQG API can be used to retrieve real-time market data, account and position data, perform order management, and retrieve historical data.
It has an intuitive programming interface. Users who had worked with Excel and are familiar with Excel Object Model will quickly get used to this component.
CQG IC should be started on the same computer running the API application.