Broadway Technology 2.0: Post-Ion split, the vendor reimagines its future
Broadway will look to build out its fixed income trading workflows, grow its as-a-service offering, lean into the low-code movement, while considering new asset classes to expand into—all while once again competing with Ion.
The cracks started to show soon after it was announced that Ion Group was acquiring Broadway Technology on February 14, 2020—Valentine’s Day. But little did they know at that point that a break-up would soon be in their future.
The deal had removed Ion’s main competitor in fixed income trading technology. “This deal makes things even more complicated for banks that want to evade the Ion stranglehold. Alternatives with critical mass are very few,” noted one industry consultant.
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