Tullett Prebon Launches FRA Matching Capability in USD

Source: Tullett Prebon

Tullett Prebon is pleased to announce the successful global launch of tpMATCH for the USD market. tpMATCH is Tullett Prebon's electronic FRA matching platform that enables traders to reduce their Libor fixing risk. The system was launched in response to strong client demand and is now available in numerous currencies and in multiple tenors. The platform is hosted by the London, New York and Singapore offices.

tpMATCH is the latest in a series of hybrid voice and electronic trading platforms to have been developed by Tullett Prebon Electronic Broking, which in the past 12 months has delivered reliable electronic trading solutions across a broad range of products.

tpCREDITDEAL was launched in Q4 2008 for the trading of Single Name CDS, Financial/Sovereign CDS and Financial iTRAXX. The platform now also offers trading of LevX, High Yield CDS, Corporate, Financial and Sterling Cash Bonds with more products due for launch in 2010.

tpENERGYTRADE is an electronic energy platform offering trading in Canadian and Western US Gas, Crude Oil Canada, NYMEX Swaps & Options and Calgary and NJ Basis. In Europe, the platform provides clients with a successful auction facility for Irish Power.

tpREPO was launched in Q4 2008 in Europe for the inter-bank Repo market, leveraging the success of Tullett Prebon's established US Repo trading platform. In the US, traders can execute anonymously in all DTCC eligible US Treasury and Agency securities. The European system now hosts Euro Repo for Germany, France, The Netherlands and Belgium, as well as Gilt Repo.

Tullett Prebon has improved its global FXO electronic trading platform, tpTRADEBLADE during 2009, resulting in increased liquidity and trading volumes. The platform has been given a new interface with significantly increased functionality; modifications include a specifics page, time and spot stipulations, closing prices, trade history, bulk order entry and STP.

Paul Humphrey, CEO of Tullett Prebon Electronic Broking & Information, said:

"Tullett Prebon's hybrid electronic broking offering successfully leverages the group's significant voice franchise and high-level technology to create platforms that meet customer demand for reliable but flexible electronic capabilities. We now have a growing suite of efficient and stable electronic platforms to which we will add further electronic initiatives during 2010. We will also continue to invest in enhancing the resilience of these platforms, constantly improving straight through processing and post-trade services to the benefit of our clients."

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