T-Zero, the credit derivative affirmation and connectivity provider, is to provide post-trade affirmation and straight-through processing (STP) connectivity for Tullett Prebon, a voice and electronic inter-dealer broker in the global derivatives market.
Tullett Prebon marks the third inter-dealer broker to join the T-Zeroplatform. The agreement comes at a time of unprecedented uptake in the number of sell-side and buy-side firms signing on for T-Zero.
“We are very pleased that Tullett Prebon has joined the T-Zeroplatform. Against the backdrop of high volume and recent market volatility, taking advantage of a scalable solution for post-trade STP makes enormous sense. Use of T-Zero offers Tullett Prebon speed to market and the highest level of functionality benefiting their clients by helping them achieve the optimal level of operational efficiency,” says Mark Beeston, president, T-Zero.
“T-Zeros post-trade capabilities provide important efficiency and transparency in the credit derivatives market. This partnership will allow our clients to benefit from timely and accurate trade capture and will enable them to focus their resources on trading and risk management,” says Paul Humphrey, CEO e-Broking, Tullett Prebon.
“This integration is testament to both firms’ goals of providing post-trade services that improve operational efficiency and, therefore, furtherenhance the quality of our credit offering,” adds Mike Binns, managing director for Credit, Tullett Prebon.