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Broadway Technology Accelerates Growth in 2019 Following Period of Record Results and Product Innovation

42% year-over-year revenue increase, expansion into global fixed income and acquisition of Barracuda FX fuel rapid expansion; commenced buildout of global credit platform

New York — July 29, 2019 Broadway Technology, a leading provider of high-performance fixed income and foreign exchange front-office solutions, today announced record results for 2018 and continued momentum in 2019. The company recorded an impressive 42% year-over-year revenue increase in 2018, led by ongoing expansion into global fixed income and foreign exchange markets and the addition of cryptocurrency as a supported asset class. Following its 2019 acquisition of Barracuda FX, Broadway continues to expand its global footprint and now counts 50% of the top global 50 banks in its client base.

The world’s largest banks depend on Broadway’s end-to-end multi-asset platform to help them address and automate the complete business, trading, ecommerce, sales, risk and regulatory requirements of global fixed income and FX markets. The company’s expansion of its fixed income platform and the migration of three Tier 1 banks off of other vendor and in-house fixed-income systems drove significant growth, while its extension into the cryptocurrency arena offers clients the ability to leverage the same technology stack within this new asset class.

As a result of high customer and industry demand for the company’s expanded fixed income offering, Broadway is continuing to extend its asset class coverage with the addition of corporate credit. A beta of Broadway’s corporate credit platform will be available Q1 2020.

Broadway’s clients value flexibility, stability and speed-to-market in today’s rapidly changing environment. Broadway’s flagship middleware, the Toc, has proven indispensable, offering customers the means to manage, normalize and surveil their entire front office across disparate markets. The Toc allows numerous systems to be integrated and viewed as a single application across the enterprise and enables customers to choose which aspects of their technology stack they wish to buy, and where they desire to develop their own intellectual property.

Broadway continued its impressive growth with its April 2019 acquisition of Barracuda FX, a global provider of FX order management technology. The deal allows Broadway to expand its product suite and deliver its multi-asset solutions across more parts of the investment lifecycle. Clients can now automate additional workflows and benefit from accelerated product roadmaps that will allow them to grow across asset classes. 

“For over 15 years, Broadway has been the solution of choice to handle trillions of dollars of fixed-income and foreign exchange trading for the world’s largest financial institutions,” said Tyler Moeller, CEO, Broadway Technology. “Our record 2018 results, significant expansion within global fixed income, addition of cryptocurrencies and the acquisition of Barracuda FX have positioned us for even more dramatic success in 2019. Broadway will continue to invest in new asset classes, such as credit, as well as new innovation as we enter our next stage of growth, and we’re excited to work closely with our clients to give them the full-stack, multi-asset front-office platform they need to meet their most sophisticated trading requirements.”

Additional Broadway milestones over the past 18 months include:

  • A 61% percent increase in staff across its global offices in New York, Austin, London, Waterloo, Tokyo and Christchurch

  • Launch of its 28,000-square foot headquarters in New York’s Financial District, a doubling in size of its Austin office, plus a new Toronto office to support its burgeoning local clientele

  • Appointment of former Barracuda FX executives Kieran Fitzpatrick and Maurice Curran as Head of FX and Head of FX Operations, respectively

  • Recognition of co-founders Tyler Moeller and Joshua Walsky on Institutional Investor’s Trading Technology 40 list for the seventh consecutive year, and as winners in the 2019 EY Entrepreneur of The Year New York Awards program

  • Continued industry recognition for product innovation, with award wins including the 2019 e-FX Awards for Best Trading Technology Vendor and Best e-FX Software Provider of the Year

  • Shortlisted for an additional three categories in the 2019 e-FX Awards, including Best Liquidity Aggregation System Provider and Best FX Connectivity Provider, with Barracuda FX, a Broadway Technology company, also shortlisted for Best Order/Execution Management System

  • Barracuda FX named 'Best Order Management System' in the 2019 Profit & Loss Readers' Choice Awards

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About Broadway Technology:
Broadway Technology is a leading provider of high-performance fintech solutions to buy-side and sell-side clients, including 25 of the largest banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo. To learn more about Broadway Technology, visit www.broadwaytechnology.com.

 

Media Contacts:
Holly Rees
Articulate Communications Inc.
hrees@articulatecomms.com

Broadway Technology Named Best Trading Technology Vendor and Best e-FX Software Provider in 2019 e-FX Awards

New York — July 12, 2019 Broadway Technology, a leading provider of high-performance fixed income and foreign exchange solutions, announced today it has been named Best Trading Technology Vendor and Best eFX Software Provider by FX Week in the 16th annual  e-FX Awards.

Judged by a distinguished panel of seasoned industry experts including the editor of FX Week, the e-FX awards celebrate excellence, innovation and superior customer service in foreign exchange. The panel selected Broadway from over 130 entries for its dedication to quality, innovation and exceptional customer service.

“Winning the eFX awards for both Best Trading Technology Vendor and Best e-FX Software Provider is a testament to Broadway’s commitment to continuous innovation, superior customer service and long-term partnership,” said Tyler Moeller, CEO of Broadway Technology. “In one of the world’s fastest changing markets, our dedicated team consistently delivers what the market and our customers need to succeed. For over 15 years, Broadway has worked with our customers to help them evolve their front office trading operations and meet dynamic regulatory demands, and we look forward to building on this success.”

50% of the top global banks have deployed Broadway to meet their most sophisticated business, trading and regulatory requirements. Broadway offers a full stack of hardware, software and complementary services to help banks reduce their total cost of ownership, improve efficiencies and drive profitability. The company has enjoyed a period of unprecedented growth over the past year, including its April 2019 acquisition of Barracuda FX to help expand Broadway’s product suite and deliver its multi-asset solutions across more parts of the investment lifecycle while allowing clients to automate additional workflows. 

“The 2019 FX Week e-FX Awards are the industry standard for quality and innovation in the foreign exchange space,” said Karen Friar, Editor of FX Week and Head Judge. “Broadway Technology has demonstrated year-on-year its outstanding dedication to providing quality, innovation, and service.”

The awards were held on July 11th in New York. This marks the fourth consecutive year Broadway has received honors from FX Week, with the company also being shortlisted in the Best Liquidity Aggregation System Provider and Best FX Connectivity Provider categories in 2019.  Barracuda FX, a Broadway Technology company, was also shortlisted for Best Order/Execution Management System.

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About Broadway Technology:
Broadway Technology is a leading provider of high-performance fintech solutions to buy-side and sell-side clients, including 25 of the largest banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo. To learn more about Broadway Technology, visit www.broadwaytechnology.com.

Media Contact:
Holly Rees
Articulate Communications Inc.
hrees@articulatecomms.com

Broadway Technology’s Tyler Moeller and Joshua Walsky named EY Entrepreneur Of The Year® 2019 New York

New York, New York, June 26, 2019 – Ernst & Young LLP (EY) has named CEO Tyler Moeller and CTO Joshua Walsky of Broadway Technology, a leader in high-performance front office fintech solutions, Entrepreneur Of The Year® 2019 in the financial technology category in New York. The award recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities, while also transforming our world. Tyler Moeller and Joshua Walsky were selected by an independent panel of judges, and the award was presented at a special gala event at the Marriott Marquis on June 20, 2019.

Chief Executive Officer Tyler Moeller said, “Joshua and I are honored to have been named Entrepreneur of the Year 2019 in financial technology. This is a prestigious award, and we could not be more thrilled to have been recognized by the EY judging panel for the incredible growth and success Broadway achieved in 2018 and 2019. It highlights what we value most about our organization – a shared commitment to continuous, collaborative innovation. We would like to extend our gratitude to the entire Broadway team for their relentless dedication towards achieving greatness as we continue our rapid expansion into the future. We look forward to joining the nation’s most accomplished entrepreneurs in Palm Springs in November at the 2019 National Awards.”

Chief Technology Officer Joshua Walsky said, “We thank the panel for recognizing us as Entrepreneur of the Year 2019 Award winners. We share this accolade with our entire team whose hard work and creativity continue to raise the bar for technology across fixed income, foreign exchange, and cryptocurrency markets.”

As New York award winners, Tyler Moeller and Joshua Walsky are now eligible for consideration for the Entrepreneur Of The Year 2019 National Awards. Award winners in several national categories, as well as the Entrepreneur Of The Year National Overall Award winner, will be announced at the Entrepreneur Of The Year National Awards gala in Palm Springs, California, on November 16, 2019. The awards are the culminating event of the Strategic Growth Forum®, the nation’s most prestigious gathering of high-growth, market-leading companies.

About Broadway Technology
Broadway Technology is a leading provider of high-performance front-office fintech solutions to sell-side and buy-side clients, including more than half of the top 50 banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, Dublin, Waterloo, Toronto, Skopje, and Christchurch. To learn more about Broadway Technology, visit www.broadwaytechnology.com.

About Entrepreneur Of The Year®
Entrepreneur Of The Year®, founded by EY, is the world’s most prestigious business awards program for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy

About EY’s Growth Markets Network
EY’s worldwide Growth Markets Network is dedicated to serving the changing needs of high-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage, venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business succeed. For more information, please visit us at ey.com/gm or follow news on Twitter @EY_Growth.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. For more information about our organization, please visit ey.com.

Media Contact:
Audra Tiner
Articulate Communications Inc.
atiner@articulatecomms.com
212.255.0081

Broadway Technology shortlisted for FX Week’s 2019 e-FX Awards

Broadway Technology, a leading provider of high-performance fintech solutions to top buy- and sell-side firms around the world, is proud to announce we have been shortlisted for FX Week’s 2019 e-FX Awards in the following categories:

  • Best e-FX Software Provider of the Year

  • Best Trading Technology Vendor of the Year

  • Best Liquidity Aggregation System Provider of the Year

  • Best FX Connectivity Provider of the Year

FX Week selected Broadway from more than 130 entries for the 16th annual e-FX Awards. FX Week’s annual e-FX Awards recognize excellence, innovation and superior customer service in foreign exchange.

Broadway Technology Acquires Barracuda FX, Bolsters Senior FX Team

Combination follows period of tremendous growth across Broadway’s FX and Fixed Income business and brings customers improved automated workflows and proven technology expertise

New York and Dublin — April 2, 2019 Broadway Technology, a leading provider of high-performance fixed income and foreign exchange solutions, today announced it has acquired 100% of Barracuda FX, a global provider of FX order management technology. With this acquisition, Broadway 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. 

Broadway will retain the full Barracuda FX team, and Barracuda FX will continue to operate as an independent company run by Kieran Fitzpatrick, CEO, and Maurice Curran, COO. Both executives will also assume senior roles leading Broadway’s FX business, as Head of FX and Head of FX Operations. Broadway will continue to offer Barracuda FX on a standalone basis, with no impact to any existing Barracuda integrations.

“Broadway is constantly thinking about what our customers need to meet new business, trading, and regulatory requirements. With this acquisition, we are continuing to invest in our ability to deliver a full- stack, multi-asset front-office platform that helps them meet these challenges,” said Tyler Moeller, CEO, Broadway Technology.  “This is a transformational acquisition and Broadway is excited to welcome the full Barracuda technology team. They are among the best in the industry and represent a tremendous level of institutional and industry credibility, and we are excited to work with them and deliver both of our award-winning solutions side-by side.”

“We’re thrilled for Kieran and Maurice to bring their years of FX experience and customer-centric focus to Broadway and assume responsibility for running our newly combined FX business,” Moeller continued. “2018 was a year of explosive growth for us, and Broadway is entering the next chapter of its evolution. This management expansion enables us to continue leading innovation in both FX and Fixed Income on our unified multi-asset platform, while focusing on each segment as its own distinct market with unique structures, business needs, and customer demands.”

Barracuda FX customers will benefit from Broadway’s 15-year pedigree as the solution of choice that handles trillions of dollars of fixed-income and foreign exchange trading for many of the world’s largest financial institutions. The combination of the two companies will ensure an enhanced executive-level focus on FX and accelerated product roadmaps for clients who want to expand across asset classes. Barracuda clients can also take advantage of Broadways’ outsourced hosting capabilities and future integration with their suite of products.  The combined client base of the companies now includes 50% of the top global 50 banks.

“This is an excellent opportunity to introduce Barracuda’s award-winning technology and world-class service to a broader audience,” said Kieran Fitzpatrick, CEO, Barracuda FX. “Joining Broadway makes sense for Barracuda and for our clients, many of whom already use both firms for key components in their FX technology stack.  Barracuda shares Broadway's vision for the future of front office trading technology and we look forward to taking leadership roles and building upon Broadway's remarkable success.’’  

“Today’s FX marketplace is increasingly fragmented and financial institutions need trusted partners that can help them manage FX price pressures, deliver future-proof technology and offer proven service quality,” said Sang Lee, co-founder and managing partner, Aite Group. “Broadway and Barracuda present a winning combination to help firms meet these challenges, expand into multiple asset classes and deliver an integrated view across their environment. “

Terms of the deal were not disclosed. Houlihan Lokey advised Barracuda FX and McCann Fitzgerald served as legal counsel. Budd Larner served as legal counsel to Broadway Technology.

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About Broadway Technology:
Broadway Technology is a leading provider of high-performance fintech solutions to buy-side and sell-side clients, including 20 of the largest banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo. To learn more about Broadway Technology, visit www.broadwaytechnology.com.

About Barracuda FX:
Barracuda is an FX specialist, singularly focused on the order management space – developing the functional capabilities, technology platform and service infrastructure to meet the needs of the demanding modern FX market. As the market leader in FX OMS, Barracuda offers two solutions for FX Banks. Its core OMS is used by the majority of Tier 1 FX banks, whilst OMSCloud, a cloud-based solution, offers regional and national banks active in the FX market a quality, affordable and robust OMS technology solution. For more information, visit www.barracudafx.com

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Media Contacts:
For Broadway Technology
Audra Tiner
Articulate Communications Inc.
atiner@articulatecomms.com
212.255.0081

 

For Barracuda FX
Jake Smith
Brandex Financial
Jake.smith@brandexfinancial.co.uk
+44 7860 779802

Broadway Technology connects with CurveGlobal to expand Global Fixed Income offering

December 20, 2018; New York – Broadway Technology, LLC, a leading provider of high-performance fixed income, foreign exchange, and cryptocurrency solutions, now offers connectivity to futures trading platform CurveGlobal. Broadway’s solutions are certified by CurveGlobal for use by Broadway’s global client base, including over 20 of the world’s largest banks and hedge funds.

About Broadway Technology
Broadway Technology is a leading provider of fixed income, foreign exchange, and cryptocurrency solutions to buy-side and sell-side clients, including 20 of the largest banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Toronto.

About CurveGlobal
CurveGlobal offers trading in UK and European short term interest futures, together with UK and German government bond futures. In 2018, total Open Interest has grown by nearly 250%, and Q4 CurveGlobal daily volume averaged over 18,000 contracts (single sided).

Broadway wins FX Week Award for Best Liquidity Aggregation System Provider of the Year

July 11, 2018; New York Broadway Technology, a leading provider of high-performance fintech solutions to top sell- and buy-side firms around the world, is proud to announce it’s been named “Best liquidity aggregation system provider of the year” by FX Week during the 15th annual e-FX Awards to be held this evening in New York. A panel of judges including the editor of FX Week, as well as four seasoned industry experts, identified Broadway as a top provider based on product quality, innovation, and superior customer service. The panel also highly commended Broadway for “Best e-FX software provider of the year.” This marks the third consecutive year that Broadway has received honors from FX Week.

Hosted by FX Week, the e-FX Awards are widely regarded as an important industry benchmark for quality of service, outstanding achievement, and leading providers. The 2018 judging panel considered more than 130 companies in selecting winners. “The 2018 FX Week e-FX Awards remains the industry standard for quality and innovation in the foreign exchange space,” says Eva Szalay, Editor of FX Week and Head Judge. “Broadway Technology yet again demonstrated outstanding levels of commitment to providing quality, innovation, and service.”

“It’s an honor to be recognized as ‘Best liquidity aggregation system provider of the year’ by FX Week’s expert panel,” says Tyler Moeller, CEO and co-founder of Broadway Technology. “Our success is a testament to the hard work and dedication of our entire team. Following unprecedented growth over the past 12 months, we now count 20 of the world’s largest banks among our clients. We pride ourselves on being a long-term technology partner that understands the evolving competitive and regulatory landscape.”

Click here for the full story.

About FX Week
FX Week is the industry’s leading information source for foreign exchange and money market professionals working within commercial banks, investment banks, central banks, brokerages, institutional investors, multinational corporations and vendor companies serving banks and financial institutions. FX Week is part of Infopro Digital.

About Broadway Technology
Broadway Technology is a leading provider of high-performance fintech solutions to buy-side and sell-side clients, including 20 of the largest banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo. To learn more about Broadway Technology, visit www.broadwaytechnology.com.

Broadway Technology goes live on over 20 major European fixed-income markets

July 10, 2018; New York – Broadway Technology, LLC, a leading provider of high-performance trading systems for FX and fixed income buy-side and sell-side clients is officially live on over 20 major venues for European government bonds, futures, and interest rate swaps. Additionally, enhanced versions of Broadway’s automated spread and duration trading tools and award-winning order router have all been released to support European fixed-income.

Chief Executive Officer Tyler Moeller commented, “Going live in European fixed income markets is a major achievement for Broadway. We are already seeing significant impact within the market as major global banks leverage Broadway’s advanced trading functionality to improve operational efficiency, gain a competitive edge, and grow their market share.”

An established market leader in US fixed income and global FX, Broadway has expanded its coverage to include European fixed income. Over 20 European fixed income adaptors have already launched so far as Broadway continues its global expansion. This initial rollout also includes Europe-specific features across Broadway’s portfolio of fintech software, as well as enhancements required for MiFID II support.  

Chief Technology Officer Joshua Walsky elaborated, “Support for European fixed income has been a key initiative for Broadway. I am proud of our teams’ efforts and the excellent results we’ve produced. Our customers benefit greatly from our modern approach to building large-scale high-performance trading systems. We deliver fully-managed, comprehensive solutions tailored to meet our customers’ specific requirements, and our enterprise platform, the Toc™, provides unprecedented flexibility to evolve in ways never before possible.”

About Broadway Technology
Broadway Technology is a leading provider of high-performance fintech solutions to buy-side and sell-side clients, including 20 of the largest banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo. To learn more about Broadway Technology, visit www.broadwaytechnology.com.


 

Broadway Technology introduces advanced cryptocurrency trading solutions

June 26, 2018; New York – Broadway Technology, LLC, a leading provider of high-performance trading systems for FX and Fixed Income institutional clients, is launching support for a wide range of cryptocurrencies. In a market formed around retail trading, institutional cryptocurrency traders entering the space require fast, adaptable, and future-proof systems with strong risk controls, intelligent decision-making, and real-time compliance and surveillance functionality. Chief Executive Officer Tyler Moeller commented, “The cryptocurrency market has grown over 800 percent in the past 12 months. Broadway is the only institutional-grade platform that is able to meet the needs of the next wave of professional traders entering the highly-fragmented crypto market. Institutional trading operations are coming to Broadway as a trusted long-term partner to deliver advanced cryptocurrency trading solutions that meet their immediate needs and can also adapt quickly as the market continues to evolve at a rapid pace.”

Broadway Technology has been an innovator and advisor to the financial industry for nearly 15 years; its expansion into cryptocurrencies adds another major asset class to its market leading end-to-end fintech solutions. Chief Operating Officer Jonathan Fieldman noted, “Expanding into cryptocurrencies is a natural extension of Broadway’s existing multi-asset solutions. With the proliferation of new cryptocurrencies and derivatives, the diversity of trading models and market participants, and the potential for regulation, Broadway is well positioned to lead the institutional market for crypto trading solutions.”

About Broadway Technology
Broadway Technology is a leading provider of high-performance fintech solutions to buy-side and sell-side clients, including 20 of the largest banks in the world. Founded in 2003 by experts in enterprise software and quantitative trading, Broadway has employees worldwide with offices in New York, Austin, London, and Waterloo. To learn more about Broadway Technology, visit www.broadwaytechnology.com.