Tullett Prebon (Securities)

Tullett Prebon is part of the TP ICAP Group. It operates as an intermediary in the wholesale financial and energy sectors, facilitating trading activities for clients such as commercial and investment banks. It is one of the largest inter-dealer brokers in the world, covering all major asset classes including global fixed income securities, money markets, capital markets, equities, credit, and associated derivatives products. In energy and commodities, it covers power, gas, renewable energy credit, and liquefied natural gas (LNG). It has offices in 24 countries and operates voice, hybrid, electronic, volume matching, algorithmic matching, and risk mitigation platforms. It also provides real-time price data to Parameta Solutions.

Tullett Prebon has a long history dating back over 150 years. Its origins can be traced back to 1866 when Matthew Marshall Junior set up in partnership with Joseph Rich, trading as Rich, Marshall & Co., East India exchange and discount brokers. Four years later, Matthew Marshall Jr. continued in business on his own account under the name Marshall & Sons. This original exchange broking business runs like a thread through the evolution of the firm and still forms a core commercial activity of the inter-dealer broker (IDB) known as Tullett Prebon, which now also embraces money market loans and deposits, bonds, equities and commodities, and their derivatives. Between 1979 and 1989, financial conglomerates Mercantile House and International City Holdings provided consolidation platforms for a number of independent broking houses. Mercantile House's acquisitions included Lasser Bros (1977), Fundamental Brokers (1980), Woellwarth & Co. (1979), Woodstock Inc. (1980), R.J Rouse & Co. (1981), Cosmorex (1981), and Oppenheimer & Co. (1982). In 1987, Mercantile agreed to a £490m takeover from UK financial services group British & Commonwealth.

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