Tullett Prebon Offices
  • Legal & Regulatory


As you are no doubt aware, the Markets in Financial Instruments Directive 2004/39/EC ("MiFID") came into effect, in the UK and in other EU Member States from 1st November 2007. This will bring changes to the conduct of regulated financial services in Europe. Its objectives are the development of a pan-European market in investment services through the establishment of a single set of European regulatory rules.

It is with this that we would like to draw your attention to the following documents:

Tullett Prebon Execution Policy

This document details how we handle orders for our customers and strive to obtain the best possible outcome each time we deal on their behalf.
Tullett Prebon Execution Policy

For the French language version (please note that the English version will always take precedence in the case of a dispute):
Tullett Prebon Execution Policy – French Version

Role of Name-Passing Brokers

This should be read in conjunction with the Execution policy. This gives detail to the role Tullett Prebon plays when acting on your behalf.
Role of Name-Passing Brokers

Terms of Business

Tullett Prebon's standard Terms of Business are also attached for your information.
Tullett Prebon Standard Terms of Business

Conflicts of Interest

Tullett Prebon may from time to time have interests which conflict with its client's interests or with the duties that it owes to its clients. These include conflicts arising between the interests of Tullett Prebon, its associates and employees on the one hand and the interests of its clients on the other and also conflicts between clients themselves.

Tullett Prebon has established procedures which are designed to identify and manage such conflicts. These include organisational and administrative arrangements to safeguard the interests of clients. A key element of this policy is that persons engaged in different business activities involving a conflict of interest must carry on those activities independently of one another.

Where necessary, Tullett Prebon maintains arrangements which restrict the flow of information to certain employees in order to protect its clients’ interests and to prevent improper access to client information.

In some cases, Tullett Prebon's procedures and controls may not be sufficient to ensure that a potential conflict of interest does not damage a client’s interests. In these circumstances, Tullett Prebon may consider it appropriate to disclose the potential conflict to the client and obtain the client’s formal consent to proceed. However, Tullett Prebon may decline to act in any circumstance where there is residual risk of damage to the interests of any client.

Execution Venues

Should you have any further queries relating to this topic or any other MiFID issues, you should contact Tullett Prebon and your query will be directed accordingly.