Bloomberg to acquire Broadway

Following this acquisition, Bloomberg will have the possibility to provide a low latency execution management offering that is optimised for rates trading and further innovation in multi-asset software. 

The company will also focus on the commensurate need for services that meet the preferences and demands of a larger variety of customers, keeping in mind their workflows and trading processes, such as the ones that operate across fixed-income asset classes. This comes as the electronic trading volumes in the rates and credit markets continue to grow. 

Bloomberg will leverage Broadway’s income market-making software in order to complete its product portfolio, prioritising the aim to provide customers with the opportunity to interact with the market faster and more efficient.  Furthermore, Bloomberg will use the new services for its development process in the liquid interest rate and government debt markets that trade on exchanges, as well as venues. 

Currently, the acquirement process is subject to customary regulatory approvals from multiple organisations. 

Broadway’s solutions

Broadway Technology is a fintech company that provides front-office solutions to sell-side clients for banks around the globe. 

Included in the products offered by Broadway is the Toc Platform, a core tool for scalable distributed computing and open data access, and low-code business logic. It focuses on powering advanced trading systems for the world’s largest financial institutions by allowing seamless and efficient interoperability among essential tools, for proprietary, third-party, or other. 

Clients can simplify complex networks of systems and improve their process of development in their fixed-income trading procedure. The Toc platform offers integration and aggregation capabilities, as well as workflows. 

Customers can have multiple benefits, including their data being normalised and made accessible globally (following a descriptive and flexible data model which incorporates fundamental object-oriented concepts, the low-code query language for accessing and filtering all the information on the data, streaming or from the past, high-performance caching, synchronisation, persistence, and event processing, as well as native support for dynamic views and data transformation), workflows which are designed for each of their development processes (combines automated and human processes through a modular data-oriented interface, creates new workflows through composition and reuse of existing capabilities, as well as using a built-in low-code engine for workflow design and automation, unlocking new business capabilities), and seamless integration through a uniform API. 

Broadway Technologies also offer trading solutions and infrastructure services that cover multiple areas of the industry, such as global government bonds, global interest rate swaps (IRS), including package trades, process trades, custom swaps, repurchase agreements (repo), options on interest rate futures, fully managed turnkey infrastructure that reduces the overall cost and time to market, data and application sharing, as well as frictionless optimisation of server infrastructure as systems and clients’ needs and preferences evolve.