Volatility provides boost for Tullett Prebon
LONDON - Tullett Prebon's revenues rose to £943.6 million ($1.3 billion) in 2008 - 25% up on 2007 - aided by market volatility.
The interdealer broker reported full-year preliminary results last Tuesday (March 10), with a 14% rise in treasury product group revenue, including the foreign exchange business, to £246.1 million. Total group profits rose 33% to £175.1 million, which the broker has attributed to increased market volatility.
"The high levels of volatility that persisted throughout the
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