Tullett Prebon and MillenniumIT, the IT provider recently acquired by the London Stock Exchange to replace TradElect, have entered into a partnership agreement.

Under the agreement MillenniumIT will work with Tullett Prebon to further develop its electronic broking capabilities across a variety of asset classes for both internal and external trading systems.

Paul Humphrey, chief executive of Tullett Prebon Electronic Broking & Information, said: "MillenniumIT are industry leaders supplying robust and efficient electronic trading platforms. This partnership marks a significant milestone in Tullett Prebon's ambitions to supply client-orientated hybrid solutions to complement our current global electronic offering. Tullett Prebon's strategy leverages and enhances the group's significant inter-dealer broker voice franchise with client-focused and innovative technology delivery. This partnership demonstrates that Tullett Prebon will continue to invest in our electronic broking capability to ensure we provide a competitive service to our wholesale clients."