CFTC Approves Tullett Prebon's Swap Execution Facility
NEW YORK, NEW YORK -- (Marketwired) -- 09/26/13 -- Tullett Prebon
plc, one of the world's leading interdealer brokers, today announces
that the Commodity Futures Trading Commission ("CFTC") has granted
temporary registration of Tullett Prebon's swap execution facility
("SEF"), tpSEF Inc. ("tpSEF").
tpSEF is headquartered in New Jersey and 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.
Tullett Prebon's SEF is a multi-asset SEF which will offer SEF
compliant execution services in the five asset classes covered under
Dodd-Frank legislation. The SEF will utilize Tullett Prebon's
established electronic broking platforms: tpSWAPDEAL and tpMATCH for
rates; tpCREDITDEAL for credit indices; tpFORWARD DEAL, tpMATCH NDF
and tpMATCH FXO for FX; tpEQUITYTRADE for equity derivatives; and
tpENERGYTRADE for commodities.
Shawn Bernardo is Chief Executive Officer of tpSEF and Chairman of
the Wholesale Markets Brokers' Association Americas (WMBAA). The SEF
Board also consists of Public Directors, David Clark, John Spencer
and James Quaille, and Directors, John Abularrage and Christian
John Abularrage, Chief Executive Officer and President the Americas
at Tullett Prebon, said: "The approval of Tullett Prebon's SEF
enables both our customers and Tullett Prebon to meet the demands of
the new legislation. Through tpSEF, our clients will have access to
Tullett Prebon's global market leading and now SEF compliant
platforms, providing liquidity across the range of asset classes
required by the Dodd-Frank Act."
Shawn Bernardo, Chief Executive Officer of Tullett Prebon's SEF,
said: "Tullett Prebon has worked diligently over the last three
years, preparing and investing in our trading technology and
infrastructure, to ensure the Company would meet the requirements of
the Dodd-Frank legislation. We are now able to provide our clients
with SEF compliant platforms and services within the new regulatory
framework under Dodd-Frank, and we will continue to work with our
customers and the CFTC to ensure that market participants
successfully manage the transition to Tullett Prebon's SEF
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 risk mitigation
platforms, to accommodate the needs of its clients, and to satisfy
the regulatory driven evolution of the marketplace. On 24 September
2013 Tullett Prebon was granted temporary registration from the
Commodity Futures Trading Commission ("CFTC") for the Company's swap
execution facility ("SEF"), tpSEF Inc. Tullett Prebon will continue
to provide regulatory compliant infrastructures in all other
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, Dubai, 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:
Bill Blase, WT Blase & Associates, Inc.
+1 (212) 221-1079
UK media enquiries:
Charlotte Balbirnie, StockWell
+44 (0)7989 528421
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