Tullett signs new contract with Kalahari

London-based inter-dealer broker Tullett & Tokyo Liberty has signed a new three-year contract with Kalahari, an analytical and price discovery software company also based in the UK. The decision marks the extension of a 10-year tie-up between the two companies and the continued and expanded use of Kalahari’s pricing application, kACE, by Tullett.

Tullett has used kACE for about two years as the engine behind its Fast Forwards Direct program, an electronic transaction system for foreign exchange. More recently, the broker has used kACE for price and data collation for both in-house distribution and publication to outside vendors by using the program’s tool-kit option. This allows users to tailor kACE to specific requirements. “Financial markets change a lot. The toolkit in kACE gives you flexibility,” Graham Mansfield, deputy managing director and co-founder of Kalahari told RiskNews. “It is a modeling environment, like an algorithm map.”

Tullett’s latest two-year contract with Kalahari was due to expire in September. But the broker negotiated the new three-year contract early as it was given better terms. Due to the long-standing alliance between the two companies Tullett felt comfortable with a three-year term, said Peter Moss, European technology director at Tullett.

Kalahari has already signed similar contracts with Tullett rivals Icap and Tradition. The software firm is now targeting energy companies. “We are moving into the energy sector and are hoping in the next couple of months to sign some contracts,” said Mansfield.