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NEW YORK, Oct. 3, 2023 ~ Bloomberg has announced the completion of its acquisition of Broadway Technology, a provider of high-performance front-office financial technology solutions. The move brings together two highly complementary businesses, Bloomberg's Electronic Trade Order Management Solutions (ETOMS) and Broadway's low-latency execution management solution.
The acquisition will help to further the development of comprehensive execution management solutions that provide greater asset coverage, connectivity, automation, and integration with pre-and post-trade workflows in response to demand for increasingly electronified and automated solutions. According to Coalition Greenwich's August 2023 Spotlight on US credit and rates markets, the future of e-trading will focus on innovation and evolution rather than just on growth. The analysis also found a year-over-year increase in electronic trading in US rates and US credit.
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Ben Macdonald, Global Head of Enterprise Products at Bloomberg said: "We are excited to welcome the entire Broadway team to Bloomberg. This acquisition enables us to deliver innovative multi-asset solutions that have a meaningful impact on an increasingly electronified, sophisticated, and interconnected fixed income market. We remain committed to investing in our business, and capitalizing on opportunities that enable us to provide clients with solutions that deliver cross-asset interoperability and enhance the value of Bloomberg's products and services to our community."
Michael Chin, CEO of Broadway added: "Bloomberg and Broadway are synergistic, and this is an enormous opportunity as both companies value transparency, collaboration, fairness, and being employee-first. As part of Bloomberg, we are excited about our expanded capabilities to bring to market a wider breadth of innovative solutions for existing and future customers."
Clients of both companies' technology solutions will continue to experience the same high levels of service and support.
The acquisition will help to further the development of comprehensive execution management solutions that provide greater asset coverage, connectivity, automation, and integration with pre-and post-trade workflows in response to demand for increasingly electronified and automated solutions. According to Coalition Greenwich's August 2023 Spotlight on US credit and rates markets, the future of e-trading will focus on innovation and evolution rather than just on growth. The analysis also found a year-over-year increase in electronic trading in US rates and US credit.
More on Nyenta.com
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Ben Macdonald, Global Head of Enterprise Products at Bloomberg said: "We are excited to welcome the entire Broadway team to Bloomberg. This acquisition enables us to deliver innovative multi-asset solutions that have a meaningful impact on an increasingly electronified, sophisticated, and interconnected fixed income market. We remain committed to investing in our business, and capitalizing on opportunities that enable us to provide clients with solutions that deliver cross-asset interoperability and enhance the value of Bloomberg's products and services to our community."
Michael Chin, CEO of Broadway added: "Bloomberg and Broadway are synergistic, and this is an enormous opportunity as both companies value transparency, collaboration, fairness, and being employee-first. As part of Bloomberg, we are excited about our expanded capabilities to bring to market a wider breadth of innovative solutions for existing and future customers."
Clients of both companies' technology solutions will continue to experience the same high levels of service and support.
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