Cboe Global Markets, Inc., the global market infrastructure and exchange operator, has chosen Broadway Technology, the high-performance front-office solutions provider, as an Infrastructure Service Provider (ISP) for its new U.S. Treasuries trading platform.
Broadway has become a prominent name in the fixed income market over the years, and recently entered into an agreement to be acquired by Bloomberg. As Cboe’s ISP, Broadway will offer full-service co-location, cloud hosting, and system oversight to ensure a seamless trading experience on Cboe’s U.S. Treasuries platform. By leveraging Broadway’s expertise in managing fixed income trading systems, Cboe aims to enhance 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 for on-the-run U.S. Treasuries, where any incoming marketable order will trade in full against only one counterparty. The platform, which capitalises on Cboe’s market expertise and technology in global FX, is designed to enable quality execution for large institutional-sized orders through anonymous trading. Its innovative matching protocol offers 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, commented, “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, added, “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.”
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