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UK-headquartered Tullett Prebon, one of the world’s leading interdealer brokers, today has entered into an agreement with Intercontinental Exchange (NYSE: ICE), a global network of exchanges and clearing houses, to acquire certain U.S. voice brokerage operations of Creditex. The terms of transaction were not disclosed and transaction is subject to an approval from the Financial Industry Regulatory Authority (FINRA).
Based in New York, Creditex is a leading interdealer broker for credit default swaps (CDS) and bonds, operating a hybrid model of voice and electronic execution, which allows market participants to trade based on their requirements.
Creditex, which was the first interdealer broker to offer ... (read more)