| Broadway Technology was virtually unknown until 2011, when Goldman Sachs Group bought a minority stake in the New York trading systems upstart. But Broadway had been in business since 2003, building high-performance platforms for Goldman and other elite players. The company grew to its current 70-employee size and expanded beyond its initial specialization in fixed-income instruments by being flexible and responsive to a decade’s worth of demands for ever-faster systems accessing multiple asset classes. Reflecting on the accelerating pace of marketplace change, 37-year-old CEO Tyler Moeller says, “At the same time that firms have decreased margins and downsized IT staffs and budgets, technology needs are going up as the competition and the amount of new regulations have also gone up.” Broadway has come out with offerings addressing liquidity aggregation, foreign exchange and derivatives execution needs. The infrastructure is rooted in systems Moeller built with Broadway co-founder and CTO Joshua Walsky at proprietary trading firm KATS, where they continued a collaboration that began at defunct Internet-era start-up CarOrder.com, a spin-off of enterprise software company Trilogy. With Broadway’s solutions now available on an economical hosted basis, “we’re bringing software that has been running at large banks to small firms and boutiques,” Moeller says. “We see ourselves as the Bloomberg of the next generation and becoming the industry standard.” | ||||||
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The 2013 Tech 50: Tyler Moeller
'At the same time that firms have decreased margins and downsized IT staffs and budgets, technology needs are going up,' says the Broadway Technology CEO.
July 16, 2013
