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Macquarie takes BNP’s Steinberg to run delta one
03 June 2010
Macquarie Securities, the Australian investment bank’s equity division, has appointed Todd Steinberg as global head of derivatives delta one.
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Macquarie Securities
Todd Steinberg
delta one
BNP Paribas
He joins from BNP Paribas in the Americas, where he was head of equities and commodity derivatives.
Delta one indicates derivatives or securities whose prices move more or less in line with those of their underlyings, such as futures, ETFs and index products — but not options.
Based in New York, Steinberg will oversee Macquarie’s equity derivatives and delta one/equity finance activities. He heads a team of 250 in Asia, Europe and Africa, and reports to Roy Laidlaw, head of Macquarie Securities.