Bloomberg Finalized Its Purchase of Broadway Technology

​Bloomberg has successfully finalized its acquisition of Broadway Technology, a provider of high-performance front-office financial technology solutions. This strategic move brings together two businesses, Bloomberg's Electronic Trade Order Management Solutions (ETOMS) and Broadway's low-latency execution management system, creating a comprehensive, low-latency order and execution management solution tailored for the credit and rates markets.

The fixed-income electronic trading landscape is maturing, with increasing digitization of workflows, driving market participants to seek scalable solutions for maintaining competitiveness. The collaboration between Bloomberg and Broadway will offer clients cutting-edge, multi-asset low-latency technologies in an intensively competitive environment.

This acquisition is poised to enhance the development of extensive execution management solutions that encompass broader asset coverage, connectivity, automation, and integration with both pre- and post-trade processes. This aligns with the growing demand for electronified and automated solutions as identified in Coalition Greenwich's August 2023 report on the US credit and rates markets, which emphasized innovation and evolution in e-trading rather than just growth. The report also highlighted a year-over-year increase in electronic trading in US rates and US credit.

​“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,” said Ben Macdonald, Global Head of Enterprise Products at Bloomberg. “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.”

“Bloomberg and Broadway are synergistic, and this is an enormous opportunity as both companies value transparency, collaboration, fairness, and being employee-first,” said Michael Chin, CEO of Broadway. “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.”