Tullett Prebon has expanded its hybrid brokering capabilities by teaming up with GMEX for a new voice and electronic trading platform for FX options.
The announcement comes one week after the interdealer broker acquired CME Group’s hybrid trading technology.
“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,” says David Perkins, managing director for electronic brokering, Tullett Prebon.
The platform will integrate GMEX’s request for quote (RFQ) technology with Tullett’s existing central limit order book (CLOB) capability.
“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,” adds Hirander Misra, CEO of GMEX Group.
The move signals Tullett’s ambitions to expand its hybrid trading capabilities into multiple asset classes following the acquisition of Creditex, a voice brokering business for credit default swaps and bonds owned by Intercontinental Exchange (ICE).