Sizing up the competition

A spate of high-profile mergers has rocked the inter-dealer broker market over the past year. To be top dog, it is increasingly clear that size is critical. Nick Sawyer talks to Robin Houldsworth, chief executive of Tradition

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It seems all you have to do at the moment is blink and you miss some vital change in the broker market – an acquisition, a name change, the poaching of a team. Most recently, Collins Stewart Tullett (CST), parent of inter-dealer broker Tullett Prebon, announced in August that it had been approached by a number of potential bidders. This comes just 10 months after the completion of CST's acquisition of Prebon Yamane for £132 million last October, a deal that cemented Tullett Prebon's position as

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