TP ICAP rolls out energy broking platform in Brazil under Tullett Prebon brand

abdelaziz Fathi

Tullett Prebon said it successfully launched its energy broking business in Brazil. This platform has already started trading in October 2021 and now forms a significant part of TP ICAP’s established power offering alongside the group’s expanding customer base in the Latin America region.

The company completed multiple transactions in its first few weeks of trading, making it the first international brokerage company to transact an energy deal in the Brazilian market using OTC voice broking. Operating under the Tullett Prebon brand, they employ a team of brokers based out of Sao Paulo, locally managed by Gonzalo Terracini.

Over the coming months, the broker plans to further expand its presence in the region. This will involve working closely with customers both internally and cross-border.

“Entering the Brazilian energy market has been an ambition of ours for some time, particularly given the focus on renewables in the country. As a global leader in commodities broking, TP ICAP is well placed to support the growth of Brazilian energy trading by increasing liquidity, transparency, and price discovery in this market,” said Oliver Maarraoui, Managing Director of Latin American Energy and Commodities at TP ICAP.

Andrew Polydor, CEO Global Markets at TP ICAP, added: ”The early success of our Brazilian energy broking desk reflects the growing demand for access to renewable energy from global financial markets. Green energy is fast becoming a driving force in financial markets and we’re seeing investors and traders across the world looking to increase exposure to renewable energy as a priority. In countries like Brazil we are working to put in place effective market infrastructure to help to accelerate the transition to a more sustainable future. This is another proof point in TP ICAP’s ambition to be the leading broker for the transition to a low carbon economy.”

TP ICAP, which earns its bread from making markets in different asset classes, employs thousands of brokers who negotiate trades in markets such as FX and commodities.

TP ICAP was formed five years ago following Tullett Prebon’s acquisition of the voice-broking business from its former rival interdealer broker ICAP. TP ICAP’s data and analytics division is a provider of real-time price information from the global OTC financial and commodity markets, covering data from the wholesale inter-dealer brokered financial markets.

Most recently, TP ICAP launched its first roster of cryptocurrency exchange-traded products (ETPs) with fresh digital asset exposures to its European clients. The expansion of TP ICAP’s crypto offering is intended to appeal to a wider range of investors and comes at a time when interest in cryptocurrencies is growing.

Read this next

Metaverse Gaming NFT

Despite crypto winter, Fastex grabs $23.2 million in Fasttoken token sale

Fasttoken, part of the Fastex web3 ecosystem, has secured $23.2 million in financing through the private and public token sales of its native cryptocurrency Fasttoken (FTN).

Digital Assets

Iran to repay Russian debts in gold-backed stablecoins

A high-ranking member of the Russian parliament confirmed reports that his country was in talks with Iran to create a stablecoin for foreign trade settlements, to replace the dollar, ruble and Iranian rial.

Digital Assets

SEC denies Cathie Wood’s bitcoin ETF for second time

The approval of a regulated crypto derivative is still looking far less likely, as the US regulators have once again denied Cathie Wood’s application for a long-awaited spot bitcoin exchange-traded fund (ETF).

Executive Moves

Pavel Spirin promoted to Scope Markets CEO following Rostro acquisition

Belize-based FX and CFDs brokerage Scope Markets has promoted Pavel Spirin to take on an expanded role as the company’s chief executive officer. He replaces the outgoing CEO Jacob Plattner, who has also been a major shareholder since he resigned his position as managing director at GKFX.

Retail FX goes all-in on alternative investing, launches Rare Sneaker Portfolio

“The concept of curated Portfolios means that our members will be able to invest in categories like art, trading cards, royalties, and real estate without needing to become subject matter experts on individual assets.”

Industry News

State Street taps AWS and Microsoft for cloud and infrastructure solutions

“By standardizing and simplifying our technology operating model, we will be able to more quickly deploy client environments and launch new products and services, while continuing to enhance the resiliency of our technology environment and our business operations.”

Institutional FX

Bitpanda launches Investment-as-a-Service business for banks, fintechs, online platforms

“Financial institutions today have to ask themselves how they aim to cater the increasing demand for modern investing solutions. Building these Individually, means a high startup cost, and products that are often outdated before they are even launched.”

Institutional FX

Options expands market data feeds after partnership with Tools for Brokers

“Our integration with ACTIV Financial marked the beginning of a new era in market data availability and infrastructure. Our teams have come together to provide unparalleled, fully managed market data services alongside Options’ global connectivity and infrastructure.”

Industry News

Recruitment in financial services sector buoyant despite planned mass layoffs

“It remains to be seen what impact this will have on hiring levels within the financial services arena this quarter”, said APSCo, regarding the expected mass layoffs within the financial services sector in England & Wales.