Broadway Technology selected as ISP for US treasuries trading platform
26 April 2023 US
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Cboe Global Markets has appointed front-office solutions provider Broadway Technology as an infrastructure service provider (ISP) for its new US treasuries trading platform.
Broadway will provide Cboe with full-service co-location, cloud hosting and system oversight in pursuit of a seamless trading experience on Cboe’s US treasuries platform.
The firm says it also provides expertise in managing fixed income trading systems to aid productivity improvement, reduce overall cost and time-to-market.
Cboe’s US treasuries platform is a full amount trading platform — where any incoming marketable order will trade in full against only one counterparty — for the trading of on-the-run US treasuries.
The platform aims to bring quality execution for large institutional-sized orders to an anonymous full amount trading platform.
Its innovative matching protocol is designed to provide an efficient way to access curated liquidity by consolidating streaming quotes from dealers into a single best price at each desired volume level, says Cboe.
Robert Siverson, director of foreign exchange and US treasuries product management at Cboe Global Markets, says: “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, adds: “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 US treasuries platform to meet growing market demand and ensure customers experience optimal performance at every stage of the trading process.”
Broadway will provide Cboe with full-service co-location, cloud hosting and system oversight in pursuit of a seamless trading experience on Cboe’s US treasuries platform.
The firm says it also provides expertise in managing fixed income trading systems to aid productivity improvement, reduce overall cost and time-to-market.
Cboe’s US treasuries platform is a full amount trading platform — where any incoming marketable order will trade in full against only one counterparty — for the trading of on-the-run US treasuries.
The platform aims to bring quality execution for large institutional-sized orders to an anonymous full amount trading platform.
Its innovative matching protocol is designed to provide an efficient way to access curated liquidity by consolidating streaming quotes from dealers into a single best price at each desired volume level, says Cboe.
Robert Siverson, director of foreign exchange and US treasuries product management at Cboe Global Markets, says: “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, adds: “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 US treasuries platform to meet growing market demand and ensure customers experience optimal performance at every stage of the trading process.”
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