BGC Sues Tullett Over ‘Stolen' Bond Data
Interdealer broker BGC Capital Markets is suing rival Tullett Prebon, claiming that Tullett illegally accessed its US Treasuries market data to support its own swaps broking activities, in breach of an agreement between the two.
BGC filed the lawsuit in New York's Supreme Court last week, seeking "hundreds of millions of dollars" from Tullett-which BGC claims profited by unauthorized use of the data, to the detriment of BGC's own broking business-along with legal costs and punitive damages.
The
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