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Tullett Prebon's Q3 boosted by weak pound, volatility

Reuters - UK Focus

Nov 4 (Reuters) - British interdealer broker Tullett Prebon (LSE: TLPR.L - news) Plc reported a jump in third quarter revenue, boosted by a fall in the value of sterling and volatility brought on by Britain's vote to leave the European Union.

Tullett, which is to buy ICAP Plc (LSE: IAP.L - news) 's hybrid voice broking business, said revenue rose 15 percent to 216 million pounds ($269 million) in the quarter ended Sept. 30.

Tullett, which earns about 60 percent of its revenue in dollars, said revenue rose 4 percent on a constant currency basis.

Volatility was also driven by speculation around further interest rate hikes, it said.

Tullett and ICAP are seeking regulatory approvals for the acquisition, including from Britain's financial watchdog.

($1 = 0.8028 pounds) (Reporting by Noor Zainab Hussain in Bengaluru)