They suggest Tullett hinted in its annual report last week that it intends to build on the success of its interest-rate swap trading platform, tpSwapdeal, by launching similar e-trading platforms in other markets.
One media source reported that Terry Smith, Tullett’s chief executive, said he was hoping to use already-purchased technology to build a full-scale FX platform, initially focused on currency derivatives.
The tpSwapdeal platform is based on technology bought from MillenniumIT, the London Stock Exchange’s technology developer.
A Tullett spokesperson was unable to confirm whether similar technology would be used for an FX platform and declined to comment on the expected launch date.