Bloomberg has entered into an agreement to acquire Broadway Technology, LLC (“Broadway”), a cutting-edge provider of high-performance front-office fintech solutions. This acquisition will enable Bloomberg to provide a low latency execution management offering optimized for rates trading, and deliver further innovations in multi-asset software.
As electronic trading volumes in the rates and credit markets continue to grow, there is a commensurate need for solutions that meet the demands of a broader variety of client workflows and trading, including across fixed-income asset classes.
More FI EMS news: Bloomberg acquiring Broadway https://t.co/JZufGoxJ4R
— Kevin McPartland (@kmcpartland) March 13, 2023
“Broadway’s best in breed fixed income market making software will fill a gap in our product portfolio, enabling customers to interact with the market with more speed and agility,” said Ben Macdonald, Global Head of Enterprise Products at Bloomberg. “This will position us well for future growth in highly liquid interest rate and government debt markets that trade on both exchanges and venues.”
“At Broadway, we are passionate about enabling change through continuous innovation. Bloomberg will give us even greater scale to meet the evolving needs of our customers,” said Michael Chin, CEO of Broadway. “Our platform’s universal interoperability is pivotal in enabling more integration opportunities that will ultimately benefit customers using Broadway’s low-latency and highly customizable workflows.”
The transaction is subject to customary regulatory approvals.
Source: Bloomberg
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
https://www.marketsmedia.com/as-technology-evolves-asset-managers-adapt-and-innovate/
Citi Changes Organizational Structure
https://www.marketsmedia.com/citi-changes-organizational-structure/
SEC Charges Virtu for Disclosures Relating to Information Barriers
https://www.marketsmedia.com/sec-charges-virtu-for-disclosures-relating-to-information-barriers/
ICE Futures Singapore Partners with CoinDesk Indices
https://www.marketsmedia.com/ice-futures-singapore-partners-with-coindesk-indices/
Related articles
-
A physically deliverable futures contract will strengthen the liquidity in EU bond markets.
-
This enables Hidden Road to expand its recently launched fixed income prime brokerage platform.
-
Rates business reported a single-day record of $102.3bn U.S. Government Bonds notional traded on April 9.
-
Fixed Income Clearing Corporation processed a series of record volumes last week.
-
Miguel Cota talks about the volatility in fixed income and contagion risk in global markets.