GFI, a cash and derivatives brokerage house, has hired two teams to consolidate its move into the second generation of credit-default swaps. The first team will be dedicated to correlation and the second to options. Both teams start in January.
"We'll be able to put a more dedicated focus on credit options with these new teams", said Ian Clague, global head of exotic credit derivatives in London, but he declined to comment on the numbers recruited so far.
Spurred on by the maturity of the market, the company first started brokering credit derivative options in April, and Clague said they had not looked back since.
