Electronic and voice interdealer broker Tullet Prebon, a facilitator of trading activities in the wholesale capital markets and energy sectors, has changed its name from Tullett Prebon plc to TP ICAP plc.
The firm started trading under the new Tradable Instrument Display Mnemonic “TCAP” 29 December 2016 and its official website is now www.tpicap.com.
Under the new name, TP ICAP plc announced it had completed the acquisition of NEX’s global hybrid voice broking and information business, including NEX’s associated technology and broking platforms and certain of NEX’s joint ventures and associates.
NEX Group plc was formerly known as ICAP Newco Plc, the holding of the group. The name was changed in May 2016 because of the sale of its global broking business to Tullett Prebon plc, now also renamed.
Commenting on the deal, John Phizackerley, CEO at TP ICAP, said: “This deal creates the leading interdealer broker in the world. It is a transformational acquisition for TP ICAP, providing a unique opportunity to accelerate our strategy and deliver for our clients, our employees and our shareholders”.