Tullett Prebon already utilises this proven technology widely across the group and now plans to develop it in-house to provide bespoke, proprietary, customer-facing capabilities, offering its clients a choice of trading methodologies including RFQ, CLOB and volume matching.

The versatile technology will be used across major asset classes and will form the cornerstone of Tullett Prebon’s new hybrid initiatives, further enhancing its voice and electronic franchise. It also represents an important step in facilitating the provision of MIFIDII solutions for the industry.

David Perkins, Managing Director, Electronic Broking at Tullett Prebon, said: “This purchase gives us greater control and flexibility of our key customer facing technologies, enabling us to deliver innovative and cost effective systems. It demonstrates our commitment to providing our customers with agile and superior hybrid broking solutions.”

Craig Mohan, Managing Director at CME, said: “We are extremely pleased to continue our relationship with Tullett Prebon and help them deliver their strategic goals through use of our solutions. This technology is industry leading and Tullett’s use of it alongside the ongoing collaboration with us provides CME with further commercial opportunities.”