Inter-dealer broker trader on the London Stock Exchange, Tullet Prebon plc (LON:TLPR), announced that it has acquired a number of U.S. brokerages from New York-based inter-dealer brokerage services firm, Murphy & Durieu L.P. with the terms of the deal remaining undisclosed.
The move makes for a deeper expansion by Tullet Prebon plc (LON:TLPR) into the U.S. fixed income market, as it will add 40 new fixed income brokers providing deep liquidity access and expertise in corporate, convertible, municipal, high yield, distressed and government securities.
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With the conclusion of the deal, Tullet Prebon plc (LON:TLPR) will boast 550 in the United States alone, playing to additional strength in the company’s portfolio of fixed income activities.
Tullet Prebon’s CEO of the Americas, John Abularrage, commented in the company’s announcement, “The US is a key market for Tullett Prebon and this deal further enhances our market-leading fixed income hybrid voice offering.”
“US fixed income is one of the largest Over-the-Counter (OTC) market segments in the world and this acquisition allows Tullett Prebon to provide even stronger and better execution to our clients across the range of fixed income products,” he concluded.