Tullett & Tokyo Forms Subsidiary To Market Derivative Pricing Engine


Money brokers Tullett & Tokyo Forex has formed a new subsidiary to market a Java version of its internally developed derivative pricing engine, dubbed The Beast. Tullett's Castlenet subsidiary will market a new version of The Beast that relies on "push" technology to calculate and distribute derivatives analytics and related market data across dealing rooms.

Carl Carrie, president of Castlenet, says the new company is majority owned by Tullett and started commercial operations two weeks ago.

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