Broadway integrates BrokerTec’s RV Curve spread trading tool

Rick Steves

“As spread trading continues to be a growing priority for our clients, we’re proud to be able to offer them access to BrokerTec RV Curve and give them a more efficient way to trade the U.S. Treasury curve.”

Fixed income trading platform BrokerTec has partnered with Broadway Technology to make its Relative Value (RV) Curve spread trading functionality available on Broadway’s Toc platform.

BrokerTec launched RV Curve in 2021 to allow market participants to trade pre-defined cash U.S. Treasury benchmark spreads as a yield differential and in a single order.

The tool offers 21 spreads, providing a full view of the relationships between 2-, 3-, 5-, 7- and 10-year Treasury notes and 20- and 30-year Treasury bonds.

By allowing trades to be executed in a single order, clients can trade the yield curve more efficiently and without legging risk or price slippage.

More inside liquidity and matching opportunities

The integration provides mutual clients with access to the full RV Curve product suite to increase execution efficiencies by merging liquidity from BrokerTec’s industry-leading central limit order book with a single-threaded matching engine to eliminate legging risk, provide inside liquidity, and increase matching opportunities when trading benchmark spreads.

Sean Hodgson, Executive Director, BrokerTec Products, said: “We’re pleased to collaborate with Broadway to bolster liquidity and grow the ecosystem of clients participating in U.S. Treasury spread trading on BrokerTec. Clients increasingly are turning to RV Curve to efficiently manage their risk along the curve with 42 clients trading over $125bn notional volume to date.”

Bruce Boytim, COO of Broadway, commented: “Since its inception, Broadway has established itself as a trusted partner to the trading community with a legacy of innovation that has armed our clients with the most complete functionality they need to maximize their fixed income trading operations. As spread trading continues to be a growing priority for our clients, we’re proud to be able to offer them access to BrokerTec RV Curve and give them a more efficient way to trade the U.S. Treasury curve. By partnering closely with BrokerTec to support its complete offering and introduce this new functionality to Broadway clients, we can bring the tangible benefits of RV Curve to a broader portion of the trading community.”

Broadway has been on a hiring spree since the start of 2021, including the appointment of CEO Michael Chin and COO Bruce Boytim, as part of a corporate rebrand that includes an expanded global business development team.

The firm has most recently appointed Lyuba Golberg as Chief People Officer and promoted Shawn Stern to Chief of Staff. In late 2021, Broadway hiredEitan Reich as Chief Technology Officer; Misha Weinberg as VP of Engineering; and Dario Gatta as Chief Information Officer.

Broadway offers a suite of fully hosted SaaS trading solutions that powers the entire end-to-end client workflow and includes order and algo execution, customer quoting and ecommerce, pricing and distribution, risk and credit management, surveillance, and trade management.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<