Broadway Technology has signed three tier-one banks, including Barclays, to mark its expansion into the global fixed income marketplace.
Broadway’s fixed income and foreign exchange clients now include 20 of the world’s largest banks and financial institutions, the company says. Its patented enterprise middleware, the TOC, serves as the core underlying platform, allowing customers to build their own integrated applications that interoperate with Broadway’s fintech solutions.
The firm says its aims to deliver comprehensive, out-of-the-box fintech solutions while, also giving clients an ability to rapidly adapt and customise over time.
“Barclays chose Broadway as our technology partner because we wanted a complete solution that meets our high bar and that we can also customise with our own unique capabilities,” says John O’Callaghan, global head of rates e-trading at Barclays. “We are excited to be working with Broadway Technology to gain the level of flexibility and scalability its solutions will provide our fixed income operations.”
“We are seeing demand from leading financial institutions to replace their existing vendors and legacy in-house systems with modern technology,” says Broadway’s CEO and co-founder, Tyler Moeller. “By expanding our coverage of global fixed income markets, Broadway is ensuring it’s the ideal long-term partner for major financial institutions to support their evolving worldwide operations, providing the industry’s most advanced technology from a team with deep capital markets expertise and an unbeatable record of success.”
Broadway’s global expansion is being funded from a $42 million minority capital investment it raised earlier this year with Long Ridge