Tullett Prebon, one of the world’s largest interdealer brokers, has entered into a strategic partnership with GMEX Group, a provider of multi-asset exchange and post trade technology, to help foster and streamline a hybrid voice and electronic trading platform for foreign exchange (FX) options, according to a company statement.
GMEX Technologies, a subsidiary of GMEX Group, has previously been supported by its development partner Forum Trading Solutions, and will be providing its trading systems capabilities and market surveillance solutions in a bid to develop a new FX options platform.
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Eye on Regulation
In particular, the new solution will look to enhance and augment Tullett Prebon’s current offering to its clients, which will enable the integration of GMEX’s request for quote (RFQ) technology along with Tullett Prebon’s central limit order book (CLOB) capability. The collaboration is also important for Tullett Prebon as the group looks to navigate a shifting regulatory environment.
According to David Perkins, Managing Director, Electronic Broking at Tullett Prebon, in a recent statement on the partnership, “This latest initiative highlights our intent to deliver premier electronic and hybrid solutions that empower our voice brokers and aid market liquidity whilst enhancing and simplifying our customers’ workflow.”
“This agile and reliable platform will help Tullett Prebon meet the business challenges of the new regulatory landscape through FinTech innovation by ensuring voice and electronic operations work seamlessly together,” added Hirander Misra, Chief Executive Officer (CEO) of GMEX Group and Chairman of Forum Trading Solutions, in an accompanying statement.
Tullett Prebon made headlines earlier this month after it launched a new global technology hub in Belfast, Northern Ireland, which will help bring upwards of 300 new jobs to the facility, part of the group’s latest expansion into the region.