Tullett and Calypso to launch correlation service

Inter-dealer broker Tullett Prebon and Calypso Technology have announced plans to launch the TP Correlation Service. Using Calypso's Galapagos platform, the service will provide Tullett Prebon's bespoke synthetic CDO clients the ability to explore a range of transactions from a pool of anonymously-provided liquidity. Tullett Prebon and Calypso Technology believe that this is an important initiative, as it has the potential to recreate liquidity in a marketplace starved of it in recent times.