Tullett Prebon Information (TPI), a leading provider of independent real-time price information from the global OTC financial and commodity markets, has signed a deal with domestic Turkish data vendor Matriks Bilgi Dagitim Hizmetleri A.Ş. (Matriks).
The deal sees Matriks redistribute TPI's data to the local market, providing its clients with accurate, reliable and independently-sourced information.
The agreement - struck in response to demand from Matriks' clients - is TPI's first with a Turkish market data vendor. It covers TPI global energy data relating to oil, power, natural gas, emissions and coal, as well as Sovereign Credit Default Swap (CDS) data. The deal highlights the increasingly sophisticated needs of investors and the financial community within Turkey, one of the fastest growing economies in the region, having nearly quadrupled in size since 2002. In particular, Turkey has a booming power market, which is driving the demand for better quality, sophisticated data relating to energy trading.
Commenting on the deal, Frank Desmond, managing director at Tullett Prebon Information, said: "Turkey is an important market for Tullett Prebon Information, both in terms of the enormous strides it has taken over the past decade, and its future potential. Access to more accurate, independent, and relevant financial information will support the continued development of its financial markets. Our relationship with Matriks demonstrates our determination to be the market leading source of this information in Turkey."
Commenting further, managing director of Matriks Bilgi Dağıtım Hizmetleri A.Ş., Berkant Oral said, "Working with an internationally-renowned provider such as TPI enables us to meet our clients' increasing demands for better quality, more granular data. As Turkey's markets increase in global stature, we expect the demand for more advanced data to grow across a range of asset classes. This is just the beginning."
TPI is a part of Tullett Prebon, one of the world's leading inter-dealer brokers.