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Derivatives

Duo Leave JPMorgan To Start Hedge Fund

Ben Smith, a managing director in the equity derivatives division at JPMorgan in New York, and Sheehan Maduraperuma, v.p., are forming a hedge fund.

Ben Smith, a managing director in the equity derivatives division at JPMorgan in New York, and Sheehan Maduraperuma, v.p., are forming a hedge fund. Both were part of the prop trading group and traded equity volatility and statistical arbitrage, Smith said.

The pair left to start a New York-based hedge fund called Laurion Capital Management, which Smith expects to launch this summer. The fund will focus on equity vol and statistical arbitrage trading.

At JPMorgan, Smith and Maduraperuma reported to Juan Carlos Pinilla, a managing director and head of equity derivatives trading in New York, who declined comment. Spokesman Brian Marchiony also declined comment.

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