LONDON and ATLANTA, Dec. 21, 2010 /PRNewswire-FirstCall/ -- Tullett Prebon, a leading intermediary in global wholesale markets, and IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that Tullett Prebon has joined the ICE eConfirm Broker Matching Service.
The ICE eConfirm platform facilitates fast and accurate post-trade confirmation, increases back-office efficiency and reduces trade data errors. The ICE eConfirm Broker Matching Service allows participants to automatically match trade data and resolve discrepancies with brokers via the ICE eConfirm website, eliminating phone calls, faxes and emails.
"We are pleased that Tullett Prebon enrolled in the Broker Matching Service," said Chuck Vice, ICE President and COO. "As the leading trade confirmation solution for global commodities trading firms, ICE eConfirm has become the standard. The addition of one of the world's leading brokers in Tullett Prebon, will allow over 200 participants active on ICE eConfirm to further automate their confirmation process."
"We recognize ICE eConfirm as a leading electronic confirmation solution for the commodity and energy asset class. Our customers will greatly benefit from the increased efficiencies of automating our confirmation process via ICE eConfirm. Tullett Prebon's back-office services will deliver paperless straight through processing to our customers," said Steph Duckworth, Chief Operating Officer of Tullett Prebon.
Tullett Prebon's Head of Electronic Broking Americas, Shawn Bernardo, added: "Tullett Prebon expects increased regulatory reporting requirements in the U.S. as a result of the Dodd-Frank Act. We are confident that partnering with ICE eConfirm will help us efficiently meet the real-time reporting and record keeping mandates."
"ICE eConfirm is committed to collaborating with our global participant base to offer a Swap Data Repository for the commodity and energy trading industry," said Bruce Tupper, Director ICE eConfirm. "Tullett Prebon's wide global presence will significantly increase the number and breadth of transactions available for electronic broker matching and regulatory reporting."
IntercontinentalExchange® (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe® hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S.® and ICE Futures Canada® list agricultural, currencies and Russell Index markets. ICE® is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, IntercontinentalExchange & Design, ICE, ICE and block design, and ICE eConfirm. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml
About Tullett Prebon
Tullett Prebon 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, Treasury, Energy and Commodities, Credit, and Equities. Tullett Prebon's electronic broking division 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.