Tullett Prebon, an interdealer broker headquartered in London, acquired a long-term license of CME’s hybrid trading technology.
Tullett executives say they plan to use the technology as the cornerstone of their new hybrid initiatives. “This purchase gives us greater control and flexibility of our key customer facing technologies, enabling us to deliver innovative and cost effective systems,” explained David Perkins, managing director of electronic broking at Tullett Prebon.
Although Tullett Prebon already uses the CME technology, this acquisition will enable Tullett Prebon to develop it further to meet customer needs. Company representatives said the broker will be able to offer clients a choice of trading methodologies, including request for quotation, central limit order book and volume matching.
