Tullett Prebon Share Discussion Threads

[my retirement fund] 17/5/2016 09:38

I though Tullett did most of its business electronic anyway, what are you talking about ?

[quepassa] 17/5/2016 09:26

Pretty negative reports on pages 20 and 21 of today's FT in my opinion.

Lombard has got it spot on.

It seems clear in my opinion that Icap/ Nex is ditching outdated voice-broking by stuffing all voice brokering into Tulletts and sees the way forward as electronic markets under the new name of Nex.



My view is that Tulletts will slowly implode over the coming years as voice intervention in financial markets becomes less and less desirable, less and less frequent, more and more regulated and costly.


ALL IMO. DYOR.
QP

[my retirement fund] 12/5/2016 08:36

Looks like another good market update to me from this world leading electronic and voice interdealer brokerage firm.

The share price seems extremely undervalued at first eyelash with a PE approaching 10 and dividend yield around 7%.

Business is up despite the awful performance of European stockmarkets (and yes that includes the UK which is part of Europe even though it seems to pretend its part of the American plate)

[quepassa] 12/5/2016 06:52

In my view only, a somewhat downbeat Trading Update of which this strikes me in particular

" In Europe and the Middle East, trading volumes have remained subdued, reflecting lower activity in traditional product areas"


One can but wonder to oneself about the wording of LOWER ACTIVITY IN TRADITIONAL PRODUCT AREAS.


ALL IMO. DYOR.
QP

[quepassa] 11/5/2016 13:46

You try telling that to Donald Trump who has triumphed using a+b+c.

You dunno what you are talking about.



Tulletts is a backwards-looking business model in my view.

The way forward is digital and Icap in my view.


ALL IMO. DYOR.
QP

[bluemango] 11/5/2016 13:28

Do you know, it's a curious thing, but when a certain individual repeats the same thing, ad nauseum, again and again, then three things spring to mind:

a) why the desperation to influence, what's in it for them and are they actually trying to convince themselves?

b) It increasingly looks like it's the only argument they've got and

c) It rather loses any potency it might have had, with all the repetition.

No one particularly in mind, of course.

ALL IMO. DYOR.
BM

[quepassa] 11/5/2016 11:29

In my view the prospects ahead for Tulletts look dismal.

Can anyone really conceive of a serious financial broker in 3 or 5 years time which will be relying on the telephone in this increasingly regulated and digital age? It seems incredible to me that such a business would have a future.

The Tulletts/ICAP split reminds me personally of the Good Bank / Bad Bank structure which some financial institutions used to deploy when they wanted to remove from sight, hive off and ultimately get rid of their undesirable, underperforming or distressed assets.


ALL IMO. DYOR.
QP

[bluemango] 04/5/2016 13:22

Shroders now following CEO Phizackerley's lead from a couple of weeks ago and increased their holding to 29.225m or just over 12%.

ALL IMO. DYOR.
BM ;o)

[quepassa] 03/5/2016 10:25

Down another 1.5% today so far.

This is yesterday's business.

ALL IMO. DYOR.
QP

[spob] 03/5/2016 10:10

Don't encourage him DVB

[dvb99] 03/5/2016 10:08

what has BT and phone lines got to do with currency traders/dealers?

[quepassa] 28/4/2016 13:32

Carlson Capital UK LLP recently on 18th. April increased their short position on Tulletts to 0.62%


ALL IMO. DYOR.
QP

[bluemango] 28/4/2016 10:50

Ex div today.

[quepassa] 25/4/2016 10:14

Price Nov 350p v Price now 350p.


QP

[quepassa] 25/4/2016 09:32

Yes. But you do not understand.

You need to chose whether you want to hold shares in the digital side of the business or the voice side of the business.


ICAP = MODERN DIGITAL AGE

TULLETTS = STEAM AGE


ALL IMO. DYOR.
QP

[bluemango] 25/4/2016 09:05

For the record:

QuePassa 6 Nov'15 - 11:02 - 97 of 104 1 0

Fantastic move.

The cost-savings of systems and personnel by combining two traditional broking houses is phenomenal.

Spencer has been saying for a long time that there was one broking firm too many and this was on the cards.

Excellent news ( other than for all the redundancies ) and good for investors in my view who will benefit from holding shares in a significantly enlarged broking firm facing much less competition.

ALL IMO> DYOR.
QP

[fredd] 25/4/2016 07:53

Reasonable volume today

[bluemango] 23/4/2016 12:48

£450k is a significant outlay and vote of confidence in the business by chief exec John Phizackerley last week.

[quepassa] 11/4/2016 13:32

8th. April.

The UK Competition and Markets Authority (CMA) have launched a merger inquiry into Tullet's acquisition of Icap's voice broking etc businesses.

That may or may not delay and or impact upon matters pending.

See the gov.uk/ cma websites.


ALL IMO. DYOR.
QP

[quepassa] 02/2/2016 08:01

The regulatory delays are not encouraging in my opinion.

DOJ and Anti-Trust hurdles still to negotiate.

Closure date:-

"Tullett Prebon continues to anticipate that the Transaction will close in 2016."

So, that narrows it down to eleven months then. Possibly. If Tullets' expectations come true.

The market hates uncertainty.

ALL IMO> DYOR.
QP

[quepassa] 26/1/2016 08:14

The graph looks headed for sub 300p in short order.

ALL IMO. DYOR.
QP

[quepassa] 14/1/2016 08:18

An ugly integration process underway.

Expect to go sub 300p on bad sentiment.

There is only one winner in this merger of unequals. Electronic broking.

ALL IMO. DYOR.
QP

[quepassa] 24/12/2015 10:29

The nitty-gritty of merging two voice broker houses is like putting two pit-bull terriers together in the same ring.

Not an attractive sight and one of them ends up getting big chunks of raw flesh torn out.

ALL IMO. DYOR.
QP