Cboe’s U.S. Treasuries platform brings large-size, low-impact trading to the on-the-run U.S. rates market
NEW YORK, NY and CHICAGO, IL – April 26, 2023 — Broadway Technology, a leading provider of high-performance front-office solutions, today announced that Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, has selected Broadway Technology as an Infrastructure Service Provider (ISP) for its new U.S. Treasuries trading platform.
Broadway is recognized in fixed income markets as the leading provider of trading solutions, with over 18 years’ experience building high-performance front-office fintech solutions to sell-side and buy-side clients. Broadway will provide Cboe full-service co-location, cloud hosting and system oversight to help ensure a seamless trading experience on Cboe’s U.S. Treasuries platform. By selecting Broadway as its ISP, Cboe can leverage Broadway’s expertise in managing fixed income trading systems to help improve productivity, reduce overall cost and time-to-market, and enable its team to focus on value-creation activities.
Cboe’s U.S. Treasuries platform is the first-ever Full Amount trading platform (where any incoming marketable order will trade in full against only one counterparty) for the trading of on-the-run U.S. Treasuries. Leveraging Cboe’s proven market expertise and technology in global FX, Cboe’s Treasuries trading platform is bringing quality execution for large institutional-sized orders to an anonymous Full Amount trading platform, and its innovative matching protocol will provide an efficient way to access curated liquidity by consolidating streaming quotes from dealers into a single best price at each desired volume level.
Robert Siverson, Director, FX and U.S. Treasuries Product Management at Cboe Global Markets, said: “Broadway’s team and technology are renowned and respected throughout the fixed income industry and they bring years of experience as an Infrastructure Service Provider. By bringing in Broadway, we believe we are ensuring that clients using our new Treasuries trading platform will enjoy the same seamless trading experience that they have come to expect on Cboe’s other trading platforms.”
Dan Romanelli, Global Head of Sales and Account Management at Broadway, said: “Broadway continuously strives to ensure the global fixed income trading community can benefit from the most innovative technology available to accelerate and streamline their trading operations. We’re proud to leverage our decades of infrastructure experience in supporting Cboe’s new U.S. Treasuries platform to meet growing market demand and ensure customers experience optimal performance at every stage of the trading process.”
Broadway is a leading provider of high-performance front-office fintech solutions to sell-side and buy-side clients, including more than half of the top 50 banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, Chicago, London, Toronto and Hyderabad. To learn more visit broadwaytechnology.com
Articulate Communications for Broadway