CMC Taps Quod to Reduce Latency

CMC Markets Cross Connect has collaborated with Quod Financial to upgrade its tech stack and reduce latency – the firm says clients now have access to an additional 60-plus currency pairs after the upgrade. The move marks a pivot towards institutional clients by the firm, which now says it will offer access to “tier one CFD liquidity”.

The two firms have collaborated on an integration in LD4 between Quod’s quoting servers and CMC’s trading engine to optimise price feed management.

“In response to the demands of our expanding institutional client book we have upgraded our technology stack to allow for faster price construction across a wider range of asset classes,” says Richard Elston, group head of institutional at CMC Markets. “Today’s announcement comes following the launch of our dedicated institutional brand at the start of 2021 and acts to support our shift to an ‘institutional-first’ approach to developing and optimising our product suite”

The firm adds this is the first of a number of product launch announcements the company expects to make in the next 12 months, focused initially on expanding its FX proposition. David Fineberg, deputy CEO at CMC Markets says, “This year we’ve set ourselves ambitious growth targets for the B2B arm of our business which we plan to achieve by servicing the needs of a greater range of institutional client types and their respective trading strategies.”