Tullett Prebon Teams with Parthian Partners into Nigerian Venture

Tullett Prebon, one of the largest inter-dealer brokers worldwide, has established a joint partnership with Parthian Partners, part of a broader initiative to gain access to a swelling Nigerian market.

Tullet Prebon has been expansive during the 2014 year, having opened a new office in Dubai back in May. The joint venture is also the second such initiative the company has embarked on in Africa, having already fostered a partnership last year in South Africa. Presently, the company boasts 23 offices worldwide, including Tokyo, London, New York, Dubai and Hong Kong.

Alternatively, Parthian Partners is a Nigerian-based inter-dealer broker. The joint venture is a symbiotic arrangement that benefits both parties, as Tullett Prebon’s clients gain a route into the growing Nigerian market with exclusive access to Parthian Partners’ client base. Conversely, Parthian’s Nigerian clients will gain access to Tullett Prebon’s robust suite of brokerage services and connections into the global investment industry.

In addition to the bilateral advantages between the two companies, the partnership will also help develop Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for clients utilizing naira-denominated bonds and bills for both parties.

According to Rob Osborne, Managing Director of Rates EMEA, Tullett Prebon, in a recent statement on the initiative, “Nigeria is now Africa’s largest economy, so this is a crucial deal for us and is central to our growth plans for Sub-Saharan Africa. Nigerian capital markets are undergoing a major transformation and FMDQ’s new rulings are an important step towards an improved regulatory framework, as we are seeing throughout global capital markets, and enabling further access to global investment capital. We look forward to working closely with Parthian Partners and FMDQ to help further develop the Nigerian capital markets, which are on track to become the blueprint for other African sovereign nations.”

“Penetration of the international market is highly prized by our clients. By partnering with Tullett Prebon, a globally recognized inter-dealer broker, we have opened up a worldwide distribution network to our clients. Parthian Partners aims to deliver a world-class service to all its clients and this joint venture will enable us to provide an unparalleled service locally,” added Oluseye Olusoga, Managing Partner, Parthian Partners, in an accompanying statement.

Regulatory Foundation

Parthian Partners has a critical advantage in the region as it's only one of the two licensed inter-dealer brokers in the entire Nigerian market and the only inter-dealer broker with an established physical presence domestically.

“The news of the joint venture between Parthian Partners and Tullett Prebon is a welcome event as it provides FMDQ Dealing Members with access to a broader distribution network while positioning the now regulated Nigerian OTC market for impressive growth,” added FMDQ’s Head of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, Ms. Kaodi Ugoji.