French broker Exane has opened a dedicated exotic options desk in Paris to boost its index and single-stock variance swaps trading. The firm has hired Thomas Sisk, previously at ICAP in New York, and Yann Le Gallais, from JPMorgan in New York, to co-head the new desk. Sisk confirmed the move and said he and Le Gallais are looking to hire several traders.
Sisk said the firm already offers variance swaps on U.S. single stocks and European indices to dealers, but it will look to expand this range to cover other exotic products such as variance swaps on European single stocks.
