The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Broadway Acquisition of Barracuda FX Expands Product Suite

Broadway Technology plans to deliver multi-asset solutions across more parts of the investment lifecycle and help clients automate additional workflows following its acquisition of Barracuda FX. The company, a provider of high-performance fixed income and foreign exchange solutions, has taken on the full Barracuda FX team and will operate the company independently under the auspices of CEO Kieran Fitzpatrick and chief operating officer Maurice Curran, who also assume roles in Broadway’s FX business. Broadway will continue to offer the Barracuda FX order management (OMS) on a standalone basis and there will be no impact on existing Barracuda integrations.

Tyler Moeller, CEO of Broadway Technology, says: “We’re seeing a tremendous amount of consolidation happening in this industry. Banks want fewer vendors, and specifically those that can offer end-to-end solutions. They want to build less in-house and buy more from vendors. For us, it’s a natural expansion to bring a product like Barracuda into the Broadway family.”

With clients in the fixed income and FX space in 50% of the top 50 banks, Broadway is focused on meeting customer needs to support new business, trading and regulatory requirements. It offers a full technology stack, multi-asset, front-office platform. Broadway customers interested in running Barracuda will be able to purchase the software.

Kieran Fitzpatrick, CEO at Barracuda FX, comments: “We will be able to deploy our OMS on the Broadway platform and provide colocated services with the wider Broadway trading and e-commerce components. This will reduce latency between trading components, which is an increasingly important driver for many of our bank customers. Broadway’s Greyspan service provides is an option if our shared clients want a fully-hosted capability.”

Related content

WEBINAR

Recorded Webinar: To be MiFID II or not to be? Approaches for 2018 and who is ready?

Don’t miss this opportunity to view the recording of this recently held webinar. A candid review of the state of the market, which countries will transpose Markets in Financial Instruments Directive II (MiFID II) on time and who will be ready to meet the compliance deadline of 3 January 2018? The webinar will provide valuable...

BLOG

Quod Financial Launches Middle Office Suite to Automate Trading Workflow

Quod Financial has added a middle office component to its multi-asset OMS/EMS platform, aimed at allowing customers to automate complex trading workflows. Quod Middle Office is a hosted STP platform that seeks to address inefficient manual processes across all asset classes including equities, derivatives, foreign exchange and fixed income, as well as digital assets. The...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...