All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group
Derivatives

Barclays, SG Expand Flow Derivatives Operations

Barclays Capital and Société Générale have separately expanded their flow trading desks over the last quarter. Erec Lepine, global head of SG's flow sales team in Paris, said, "Over the last few months we have recruited eight-10 people for our desks in London, Paris and Zurich."

Barclays Capital and Société Générale have separately expanded their flow trading desks over the last quarter. Erec Lepine, global head of SG's flow sales team in Paris, said, "Over the last few months we have recruited eight-10 people for our desks in London, Paris and Zurich." Most of the recruits have come from the private banking team at Commerzbank and from the flow analysis group at Deutsche Bank, said Lepine. "Our main focus for the moment is Europe," he said, adding, "We may extend our operations in Asia and recruit there in the near future."

Barclays is looking to expand its flow derivatives desk from five to eight and has recently hired Andrew Stonely as head of flow trading from Citigroup, where he was a director and head of U.K. sales. Maurits Schouten, head of equity-linked products at Barclays Capital in London, said the desk's mandate has also widened to cover over-the-counter options.

Several rival traders were puzzled over why the two firms would boost their desks when volatility is at record lows and margins are grinding tighter. One, however, said it made sense because as the equity market picks up derivatives volumes will increase.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree