Broadway Technology has rolled out new functionality for repo trading on its FICC trading platform, introducing complete and automated workflows for trading, hedging and collateral management on a global scale. This functionality – called RepoTrader – aims to integrate and streamline the repo trading lifecycle for major institutions. It encompasses connectivity to multiple repo markets, […]
Tag: Broadway Technology
Broadway Technology has announced the acquisition of FX OMS provider Barracuda FX – terms of the deal have not been revealed.
With the deal, Broadway says it will continue to expand its product suite and deliver its multi-asset solutions across more parts of the investment lifecycle while allowing clients to automate additional workflows.
The Barracuda FX business will continue to operate on a standalone basis, meaning there will be no reduction in staff. Barracuda CEO Kieran Fitzpatrick and Maurice Curran, COO, will continue to run the business, they will also, however, assume senior roles leading Broadway’s FX business, as head of FX and head of FX operations respectively.
The increasing automation of the FX markets is changing how firms manage their risk, said speakers at the Profit & Loss Scandinavia conference in Stockholm in October 2018.
Marian Micu, director of quantitative research at Qube Research and Technologies, highlighted the emphasis on new technology and automation in trading by pointing out that five years ago he had no machine learning specialists on his team and that now over half of them are machine learning traders or researchers.
Micu went on to explain that in the past, news that was likely to impact prices in the market mainly came from scheduled announcements from sources like the European Central Bank (ECB) or the Federal Open Market Committee (FOMC), and that such announcements could be very well monitored and understood by a team of human traders and then integrated into the trading strategies.
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.
TransFICC, Bondecosystem, Broadway Technology, Overbond, Rival Systems, QuantFeed…