Tullett Prebon, an interdealer broker, has established a joint venture with Parthian Partners, a Nigeria-based interdealer broker, as part of its continued expansion throughout the African continent.

Tullett Prebon’s clients gain a route into the growing Nigerian market with exclusive access to Parthian Partners’ client base of domestic banks and discount houses.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

In return, Parthian Partners’ domestic clients will benefit from Tullett Prebon’s global brokerage services and connections into the global investment community. The partnership will enhance liquidity in Naira-denominated bonds and bills for the clients of both Tullett Prebon and Parthian Partners.

In May 2014, FMDQ, the regulator of the Nigerian OTC market, agreed with its Dealing Members that they should only execute trades brokered by an individual or corporate body that is registered with the Securities and Exchange Commission (SEC) and licenced by FMDQ. This is in relation to products traded on the FMDQ platform. Parthian Partners is one of two licensed interdealer brokers in the Nigerian market and the only interdealer broker with a physical domestic presence.

Rob Osborne, Managing Director of Rates EMEA, Tullett Prebon, said: "Nigeria is now Africa’s largest economy, so this is a crucial deal for us and is central to our growth plans for Sub-Saharan Africa. Nigerian capital markets are undergoing a major transformation and FMDQ’s new rulings are an important step towards an improved regulatory framework, as we are seeing throughout global capital markets, and enabling further access to global investment capital. We look forward to working closely with Parthian Partners and FMDQ to help further develop the Nigerian capital markets, which are on track to become the blueprint for other African sovereign nations."

Oluseye Olusoga, Managing Partner, Parthian Partners, said: "Penetration of the international market is highly prized by our clients. By partnering with Tullett Prebon, a globally recognised interdealer broker, we have opened up a worldwide distribution network to our clients. Parthian Partners aims to deliver a world-class service to all its clients and this joint venture will enable us to provide an unparalleled service locally."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

FMDQ’s Head of Regulation, Ms. Kaodi Ugoji, said: "The news of the joint venture between Parthian Partners and Tullett Prebon is a welcome event as it provides FMDQ Dealing Members with access to a broader distribution network while positioning the now regulated Nigerian OTC market for impressive growth."

This joint venture creates Tullett Prebon’s second connection on the African continent following the opening of its operations in Johannesburg, South Africa last year. Tullett Prebon has offices in 23 global locations including London, New York, Dubai, Hong Kong, Singapore and Tokyo.