Tullett Prebon and Integral partner to launch spot FX platform
First Published 10th July 2012
Tullett Prebon announces beta launch of tpSPOTDEAL, selects Integral as Tech partner
Harpal Sandhu, CEO, Integral Development Corp
"tpSPOTDEAL is going to be a significant platform in the wholesale FX market because it meets the needs of the customers."
London, New York, Singapore and Sunnyvale, Calif - Tullett Prebon, the inter-dealer broker, has announced the beta launch of tpSPOTDEAL, a spot FX platform, with Integral Development Corp. the provider of FX trading solutions and services, as its chosen technology provider.
tpSPOTDEAL aims to offer simple, straight forward, reliable execution and will offer anonymous trading with a prime broker as central counterparty for all trades. The platform will have 10 liquidity providers that will make a two-way price resulting in liquidity on the bid and offer regardless of the market conditions.
James Potter, Managing Director of Treasury at Tullett Prebon, said: "tpSPOTDEAL has been specifically designed to enhance our existing spot FX business model for our existing clients conducting wholesale transactions. Importantly, access to the platform will be free for the end user."
Harpal Sandhu, CEO of Integral Development Corp., commented: "tpSPOTDEAL is going to be a significant platform in the wholesale FX market because it meets the needs of the customers, it is available now and it is offered by a market leading financial services firm, Tullett Prebon. We are delighted to enable their business, to their unique specifications, at no up-front cost."