Market operator Cboe Global Markets has selected Broadway Technology as an infrastructure service provider (ISP) for its new US Treasuries trading platform.
Broadway provides trading and execution management systems to sell-side and buy-side clients. Broadway will provide Cboe with co-location, cloud hosting and system oversight to support the trading experience on Cboe’s US Treasuries platform. By selecting Broadway as its ISP, Cboe will have access to Broadway’s knowledge in managing fixed income trading systems to try and help improve productivity, reduce overall cost and time-to-market, and enable its team to focus on value-creation activities.
Cboe’s US Treasuries platform is a full-amount trading platform, allowing an incoming marketable order to trade in full against only one counterparty, for the trading of on-the-run US Treasuries. Using Cboe’s experience in the FX space, Cboe’s Treasuries trading platform is bringing execution for large institutional-sized orders to an anonymous full-amount trading platform, and its 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.
Robert Siverson, director of FX and US 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.”
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