Tullett Prebon Confirms Support for tpSWAPDEAL
- Ultra low latency implied order generation engine creating deep liquidity in the maximum number of products. - "Pegging" capability enabling clients to place specific orders into the market tracking futures contracts. - Unique counterparty trading preference model enabling banks to select counterparties to whom they are prepared to offer liquidity and to a specific maximum maturity.
(firmenpresse) - LONDON, UNITED KINGDOM and NEW YORK, NEW YORK and SINGAPORE, SINGAPORE -- (Marketwire) -- 09/21/11 -- Tullett Prebon, one of the world's leading inter-dealer brokers, today confirms early support for the forthcoming launch of tpSWAPDEAL, its hybrid interest rate swap trading platform, leveraging the combination of Tullett Prebon's high-level technology with its established voice broking capabilities.
Initially tpSWAPDEAL, which forms part of Tullett Prebon's rapidly expanding electronic broking services, will support trading in Euro denominated IRS, gap and butterfly strategies, matched maturity futures spreads, and tenor basis swaps.
tpSWAPDEAL utilises the most up-to-date and market leading technology from MillenniumIT, a premier technology solutions provider, wholly owned by the London Stock Exchange and serving the global capital markets industry as a specialist in exchange grade, low latency technology.
The new platform has been created with the flexibility to give Tullett Prebon's clients the ability to transact either entirely electronically or via our comprehensive voice execution broker network, within both the current trading landscape and under all anticipated regional regulatory environments.
In addition to standard electronic platform functionality, tpSWAPDEAL has a number of features designed to replicate and enhance the advantages of the current voice market:
Importantly, tpSWAPDEAL operates using a non preferential open governance and fee structure for Tullett Prebon's existing client base and is designed to attract participation from customers operating on both a cleared and bilateral trading model.
Clients who have committed to supporting tpSWAPDEAL with market liquidity and are currently in the process of establishing connectivity include:-
Due to the uniqueness of tpSWAPDEAL functionality, tpSWAPDEAL has also been asked to provide trading capability, via the GUI by a further 35 clients in 9 countries.
Steph Duckworth, Global Chief Operating Officer at Tullett Prebon, said:
"tpSWAPDEAL has been developed with the most up-to-date technology, providing our clients with the best-in-market hybrid broking product, combining the benefit of our extensive voice platform with the ability to trade electronically. Our secure, stable and robust platform enables clients to trade and process transactions more quickly and with less risk than ever before."
Paul Humphrey, CEO Electronic Broking & Information at Tullett Prebon, said:
"We believe tpSWAPDEAL will best preserve the current liquidity pool that our customers currently enjoy, encouraged by Tullett Prebon's strategy of open inclusion to all existing and potential clients, and functionality designed to most easily translate voice liquidity onto an electronic screen. tpSWAPDEAL demonstrates Tullett Prebon's ability to deliver sophisticated, efficient and innovative electronic platforms."
About Tullett Prebon
Tullett Prebon () is one of the world's largest inter-dealer brokers and operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients, in particular commercial and investment banks. The business now covers seven major product groups: Rates, Volatility, Treasury, Non Banking, Energy and Commodities, Credit and Equities. Tullett Prebon Electronic Broking offers electronic solutions to these products.
In addition to its brokerage services, Tullett Prebon offers a variety of market information services through its IDB Market Data division, Tullett Prebon Information.
Tullett Prebon has its principal offices in London, New Jersey, Hong Kong, Singapore and Tokyo, with other offices, joint ventures and affiliates in Bahrain, Bangkok, Frankfurt, Houston (Texas), Jakarta, Luxembourg, Manila, Mumbai, New York, Paris, Seoul, Shanghai, Sydney, Toronto, Warsaw and Zurich.
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Datum: 21.09.2011 - 03:56 Uhr
Sprache: Deutsch
News-ID 1039393
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