Tullett Prebon Further Develops Tokyo OTC Business

Published: 08-Feb-2010

Tullett Prebon (Europe) has launched a new over-the-counter (OTC) brokerage business in Japan for Nikkei options and Delta one products.

The new business will be headed by Patrick Maloney, who has been in the Japanese equity business for over 15 years and has an experience in meeting the needs of local and foreign clients operating in Japan.

Reportedly, Tullett Prebon (Europe) has been granted registration to conduct a Type 1 financial instruments business under the supervision of the Japanese Financial Services Authority.

Tim Marshall, MD of Tullett Prebon's Tokyo office, said: "For a while now we have been contemplating further developing our existing Tokyo OTC business but accelerated this process with the appointment of Patrick Maloney. I am excited to have him onboard to head up a very experienced team of brokers. Our new equity derivatives business will further diversify the product coverage of Tullett Prebon in Japan and will compliment our existing equity derivatives business in Hong Kong, which deals with clients based outside of the country."

Tullett Prebon is an inter-dealer broker that operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients, in particular commercial and investment banks.

The business now covers seven major product groups: Volatility, Rates, Non Banking & Sterling Cash, Treasury, Energy, Credit, Environmental and Equities. Tullett Prebon ElectronicBroking offers electronic solutions to these products.

In addition to its brokerage services, Tullett Prebon offers a variety of market information services through its IDB Market Data division, Tullett Prebon Information.

Tell your friend about this article