Broadway 2.0’s Long and Winding Road to Independence

John Lothian

John Lothian

Executive Chairman and CEO

Michael Chin is the CEO of Broadway Technology, which recently went through a rebrand and is now just Broadway. The path to Broadway 2.0, as Chin called it, was an unusual one. Chin was interviewed recently by John Lothian News about its journey from acquisition to independence. 

Broadway Technology has been working on a renewal since it was spun out of ION Trading after the U.K.’s Competitive Markets Authority told ION it had to spin back out most of Broadway because of overlap in both firms’ fixed income offerings.

Today, ION is a customer of Broadway’s and retains Broadway’s former FX business.

In January of 2021, Broadway was spun out of ION and began anew its journey as an independent company backed by private equity investors.

The 2.0 version of Broadway holds its fixed-income trading platform, the Toc middleware offering and the Greyspan business infrastructure as a business.

The Toc platform is Broadway’s core platform for scalable, high-performance distributed computing and open data access, and low-code business logic that powers advanced trading systems by enabling interoperability among essential trading tools.

The Greyspan business offers trading solutions through full-service co-location, cloud hosting, and system oversight.

Broadway defines its mission and vision as being where tech meets intellect, which also is its new tagline. Chin spoke about the value of the Broadway spreader tool that allows traders to trade spreads in fixed-income cash versus futures, or cash versus cash as a popular item for Broadway customers.

Chin said human-to-human interaction will continue to be a key component for parts of fixed-income trading. Broadway maintains a high-touch approach, he said. And Chin said Broadway plans to increase its headcount from about 100 to 200 in the next two to three years.

Broadway has global coverage of the markets, and is opening a Chicago office to better serve the trading community there, Chin said.

We visit more than 100 financial news websites daily (Would YOU do that?)

The Spread

Todays  Options Newsletter

Now Read This

John Lothian: Week in Review (February 12-16 2024)

John Lothian: Week in Review (February 12-16 2024)


The journalists killed in Gaza — and what they tried to show the world

Journalists in Gaza have been killed covering the war and sheltering from it. Some have died with their colleagues; others, with their families. They tried to report any way they could,…

There is No Way to Thank Everyone, but Some People Must be Mentioned

There is No Way to Thank Everyone, but Some People Must be Mentioned

I wish I could share this news of my being named to the FIA Hall of Fame with my mother and father, but both have passed, my mother in 2022 and my father in 2003. Even though my father has been gone for nearly a generation, his light shines through me via his wisdom, tolerance, community service, faith and love of family. I always said that using both of my college degrees, one in finance, the other in journalism, made my mother happy. As a teacher, education was important to her. But my parents insisted the only thing they were going to give me besides love was an education and then I was on my own.

The FIA sure knows a Hall of Fame Way to say ‘I love you’ on Valentine’s Day

The FIA sure knows a Hall of Fame Way to say ‘I love you’ on Valentine’s Day

The FIA sure knows how to say I love you on Valentine’s Day. Shortly after the newsletter was published yesterday, the FIA sent a press release announcing the names of the 2024 inductees into the Hall of Fame and my name was on the list. 

OK, I knew I was being named already because I was on the committee that picked the inductees. For the record, the committee did not hold a vote name by name, so I did not have to recuse myself on the vote. 

I was very pleased that two people I nominated were named to the Hall of Fame. This is not to say other people did not nominate these two also, but I nominated Leslie Sutphen and Wiliam J. Mallers, Sr. for the Hall of Fame. Mallers is a former employer of mine when I was at First American Discount, a firm he founded. 

Pin It on Pinterest

Share This Story