Tullett Prebon Announces Filing of SEF Application With CFTC
NEW YORK, NEW YORK -- (Marketwired) -- 08/26/13 -- Tullett Prebon,
one of the world's leading interdealer brokers, today announces the
filing of its Swap Execution Facility ("SEF") application with the
Commodities Futures Trading Commission ("CFTC").
The SEF, registered as tpSEF Inc. and headquartered in New Jersey, is
a wholly owned subsidiary of Tullett Prebon. It has been established
to ensure the Company's compliance with Dodd-Frank legislation,
enacted on July 21, 2010.
Shawn Bernardo, Tullett Prebon's Senior Managing Director of
e-broking and member of Tullett Prebon's North American Executive
Committee and Chairman of the Wholesale Markets Brokers' Association
(WMBA), is named Chief Executive Officer of the SEF.
The SEF Board also consists of Public Directors, David Clark, John
Spencer, and James Quaille, and Directors, John Abularrage and
John Abularrage, Chief Executive Officer and President the Americas
at Tullett Prebon, said:
"Tullett Prebon's SEF forms an important part of the development of
our existing businesses as we continue to grow our global market
leading offering in those areas regulated by the CFTC and SEC.
Tullett Prebon will provide SEF compliant platforms for our customers
to access liquidity and meet the demands of the new legislation."
Shawn Bernardo, Chief Executive Officer of Tullett Prebon's SEF,
"Over the past three years we have provided regulators with industry
insight into the interdealer broker marketplace and have testified
before Congress as the new regulations were being considered. Tullett
Prebon looks forward to working with the CFTC to ensure that the
Company is able to continue offering its customers swap execution
services in accordance with the new regulations."
About Tullett Prebon
Tullett Prebon (www.tullettprebon.com) is one of the world's largest
interdealer brokers and operates as an intermediary in wholesale
financial markets facilitating the trading activities of its clients
in seven major product groups: Rates, Volatility, Treasury, Non
Banking, Energy & Commodities, Credit and Equities.
With offices in 22 countries, Tullett Prebon operates voice, hybrid,
electronic, volume matching, algorithmic matching and ris
platforms, to accommodate the needs of its clients, and to satisfy
the regulatory driven evolution of the marketplace. Tullett Prebon
will be applying to be a Swap Execution Facility with the CFTC and
the SEC in the US and will continue to provide regulatory compliant
infrastructures in all other jurisdictions.
In addition to its brokerage services, Tullett Prebon offers a
variety of market information services through its IDB Market Data
division, Tullett Prebon Information.
Tullett Prebon has its principal offices in London, New Jersey, Hong
Kong, Singapore and Tokyo, with other offices, joint ventures and
affiliates in Bangkok, Frankfurt, Geneva, Houston (Texas), Jakarta,
Luxembourg, Madrid, Manama (Bahrain), Manila, Mumbai, New York,
Paris, Sao Paulo, Seoul, Shanghai, Sydney, Toronto, Warsaw and
US media enquiries:
WT Blase & Associates, Inc.
+1 (212) 221-1079
UK media enquiries:
+44 (0)7989 528421
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