The acquisition is subject to regulatory approval and certain other customary closing conditions and is expected to close later in the second quarter of this year.
Elevation has more than six years’ experience in the equities and equities derivatives markets, providing execution services over the entire spectrum of the foregoing markets. As well as having an established presence in these markets, Elevation also has a foothold in the futures and fixed income markets.
John Abularrage, Chief Executive Officer the Americas, Tullett Prebon commented: 'We are delighted to have an agreement with Elevation and look forward to expanding our offering in the equities and equities derivatives markets. Importantly, the acquisition will reinforce our continued commitment to growing our business in the Americas'.