The variation of free volume and elastic properties of the Cu55Zr30Ti10Pd5 glassy alloy on heating was studied. The structure changes on heating were studied by synchrotron X-ray diffraction, differential scanning and isothermal calorimetries. The studied glassy alloy shows a rather high Poisson's ratio exceeding 0.42 which is maintained after the structure relaxation and primary devitrification. Young's and Shear modules decrease upon primary devitrification while Bulk modulus exhibits a maximum after structural relaxation.