Cboe Selects Broadway Technology as Infrastructure Provider for New Interdealer US Treasuries Platform

Cboe has selected Broadway Technology to become the infrastructure service provider for its new interdealer US treasuries trading platform according to a story in The Trade news. Announced in November 2021, the new platform – Cboe Fixed Income – is the exchange group’s first move into fixed income. The dealer-to-dealer electronic trading platform claims to be the first ever full amount trading platform for on-the-run US treasuries trading meaning any incoming marketable order will trade in full against one counterparty. It leverages Cboe’s matching protocol, consolidating streaming quotes from dealers into a single best price at each desired volume level to offer users “curated liquidity”. Broadway will provide Cboe Fixed Income with full-service co-location, cloud hosting and system oversight to improve its trading experience. In selecting Broadway, Cboe can leverage the firm’s fixed income expertise in managing trading systems targeted at this asset class which could improve overall efficiency, cost and time to market.