Nick Tranter joined Execution, the UK agency broker, as head of
derivatives in early August. This is a new position.
Tranter’s remit is to build up the small
institutional and hedge fund derivatives business at Execution.
Tranter left BNP Paribas in London in February, having been
European head of equity and derivatives flow sales for 18
months. Before that, he was at Morgan Stanley for over 10 years
and at JP Morgan for four years.
Tranter says he wants to start with exchange-traded
derivatives and then expand into the over-the-counter
First, he will work on index and single stock derivatives,
hiring a stock options specialist, he told FOW. When these
areas are established, he will look to find credit
intermediation so Execution can transact over-the-counter
derivatives on behalf of its clients.
The firm has a focus on equity derivatives because this
complements its existing equities business. "We can trade
currencies and rates but at the moment we’re
mainly focused on equity derivatives," says Tranter.
Adding derivatives will give clients more choice and
diversify Execution’s revenues. "Derivatives can
be counter-cyclical, so the derivatives business can hedge
revenue losses in other areas," he says.
As well as broadening its product base, Execution is looking
to expand geographically. Tranter will be based in the London
head office but says that, because Germany is an important
market from an equity derivatives perspective, he will be
looking at establishing a presence in Frankfurt. n
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