Tullett Prebon, a leading voice broker in the energy sector, today announces the launch of tpENERGYTRADE, a hybrid voice and electronic energy trading platform.
Initially, tpENERGYTRADE will be offered in Canadian and Western U.S. gas and in Ontario Power Markets. The new platform will be fully supported by Tullett Prebon's team of brokers in Jersey City, NJ and Calgary, Canada. The firm plans to offer tpENERGYTRADE to all power and gas markets in the future.
The hybrid platform will allow Tullett Prebon's clients to trade through the firm's voice brokers, or electronically through the screen accessing the same liquidity pool. It will provide them with greater transparency, faster execution, firm prices and straight-through trade processing.
"This demand-led initiative is an example of a successful partnership between our voice and electronic businesses," said Paul Humphrey, CEO eBroking at Tullett Prebon. "Electronic hybrid solutions leverage our significant voice franchise, enable innovation and provide added value to our clients."
"Tullett Prebon is extremely pleased to announce the launch of tpENERGYTRADE," said Richard Higgs, Senior Managing Director of Energy and Treasury Products in the Americas at Tullett Prebon. "This significant initiative to add electronic trading to our highly regarded voice brokerage capabilities will greatly enhance our trade execution process and provide valuable reporting capabilities to our clients."
Tullett Prebon designed tpENERGYTRADE with Elysian Systems, a London-based provider of Exchange and Electronic Trading technology, to fine-tune the platform for the North American energy space.