Source: Tullett Prebon
Tullett Prebon, a leading intermediary in global wholesale markets, and IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that Tullett Prebon has joined the ICE eConfirm Broker Matching Service.
The ICE eConfirm platform facilitates fast and accurate post-trade confirmation, increases back-office efficiency and reduces trade data errors. The ICE eConfirm Broker Matching Service allows participants to automatically match trade data and resolve discrepancies with brokers via the ICE eConfirm website, eliminating phone calls, faxes and emails.
"We are pleased that Tullett Prebon enrolled in the Broker Matching Service," said Chuck Vice, ICE President and COO. "As the leading trade confirmation solution for global commodities trading firms, ICE eConfirm has become the standard. The addition of one of the world's leading brokers in Tullett Prebon, will allow over 200 participants active on ICE eConfirm to further automate their confirmation process."
"We recognize ICE eConfirm as a leading electronic confirmation solution for the commodity and energy asset class. Our customers will greatly benefit from the increased efficiencies of automating our confirmation process via ICE eConfirm. Tullett Prebon's back-office services will deliver paperless straight through processing to our customers," said Steph Duckworth, Chief Operating Officer of Tullett Prebon.
Tullett Prebon's Head of Electronic Broking Americas, Shawn Bernardo, added: "Tullett Prebon expects increased regulatory reporting requirements in the U.S. as a result of the Dodd-Frank Act. We are confident that partnering with ICE eConfirm will help us efficiently meet the real-time reporting and record keeping mandates."
"ICE eConfirm is committed to collaborating with our global participant base to offer a Swap Data Repository for the commodity and energy trading industry," said Bruce Tupper, Director ICE eConfirm. "Tullett Prebon's wide global presence will significantly increase the number and breadth of transactions available for electronic broker matching and regulatory reporting."