British interdealer broker Tullett Prebon has purchased a long term licence to use CME’s hybrid trading technology.
The company already uses the trading technology across the group and now plans to design it in-house to offer its customers a choice of trading methodologies including RFQ, CLOB and volume matching.
Tullett said that the technology will be used across major asset classes and will form the cornerstone of its new hybrid initiatives, further improving its voice and electronic franchise.
Tullett Prebon Electronic Broking managing director David Perkins 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.”
CME managing director Craig Mohan 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.”
CME Group offers a range of global products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.