Bloomberg, a business and financial information provider, has acquired Broadway Technology LLC, a financial technology services company.
Broadway offers fintech services to sell-side clients for banks around the world. Founded in 2003 by enterprise software and quantitative trading, Broadway has employees globally with offices in New York, Austin, Chicago, London, Waterloo and Hyderabad. This deal looks to enable Bloomberg to provide a low-latency execution management offering optimized for rates trading and also deliver improved multi-asset software services.
“Broadway’s best in breed fixed income market making software will fill a gap in our product portfolio, enabling customers to interact with the market with more speed and agility,” states Ben Macdonald, global head of enterprise products at Bloomberg. “This will position us well for future growth in highly liquid interest rate and government debt markets that trade on both exchanges and venues.”