Tullett and DTZ form property derivatives partnership

Interdealer broker Tullett Prebon has teamed up with property adviser DTZ to develop the property derivatives markets in the UK and Europe.

The two companies will initially focus on building liquidity in the property derivatives market by accessing their existing customers, and on developing reliable data. Tullett's Andrew Jeyarajah will be in charge of execution and pricing, while Darren Bishop, currently head of data sales in Europe and Asia, will run data management and distribution.

At DTZ, Stephen Ellis and Mike Cutteridge will market the products to existing customers.

Tullett Prebon launched a property derivatives desk in late July, following in the footsteps of GFI and Icap. Tradition Financial Services launched its own desk in August.