Commentary

Momtchil Pojarliev
Traders Magazine Online News

Some Like It Hedged

BNP Asset Management's Pojarliev discusses a variety of options to address foreign currency exposures. Although there is no single best-practice solution for addressing foreign currency exposures, institutional investors have three main choices, he says.

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April 1, 2010

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Knight hired a new options sales and trading team led by managing directors Adam Templeton and Ryan Sylvester. Templeton and Sylvester join from Newedge USA, where they were co-heads of the strategic options group. Also joining from Newedge is Brad Manuilow, who will be based in Knight's San Francisco office. James Murphy, Robert F. Mabry and Jeffrey Fittipaldi join the team from Pali Capital.

 


 

BTIG added senior sales traders Brad Berk and Michael Stamberger as managing directors. Berk, who spent eight years at Pali Capital, will be working out of BTIG's Connecticut office. Stamberger, a two-year Pali veteran, works out of the firm's New York office. Both report to Richard Blank, co-head of global equities.

 


 

Gil Shaked was named chief executive of Correlix, a software firm that measures trading and market data latency. Shaked, a 20-year industry veteran, was previously with Credit Suisse. During his 10 years there, he rose to the position of global head of prime brokerage services and alternative investment technology. Shaked also held management roles at Lehman Brothers, where he served as global head of credit and market risk technology. He replaces Correlix founder Shawn Melamed, who remains president and chief technology officer.

 


 

Nomura Securities International recently added two professionals to its electronic trading effort. Marie Konstance and Monica Simon join as executive directors in electronic trading sales. Konstance, a 20-year veteran, was previously at Goldman Sachs, where she focused on algorithmic trading strategy and sales. Earlier in her career, she led transaction-cost analysis product and sales efforts at JPMorgan Plexus and ITG. Simon was previously with Bank of America Merrill Lynch and Morgan Stanley, where she also held strategy and sales positions.

 


 

Tomas Bok launched Cambridge Analytics, a consultancy focusing on electronic trading and trade-cost analysis for investment management firms. Bok, an 11-year veteran, spent most of his career on the sellside developing algorithms and trading analytics. At ITG, he ran algorithmic product development and, later, analytics before moving to Lehman Brothers. Bok recently spent nearly three years with Boston-based quant shop GMO, where he helped to streamline trading.

 


 

Chris Yuknek joins Robert W. Baird & Co. as a program trader. Yuknek, a veteran of more than 25 years, began his career at Kidder Peabody in trading technology. He later moved to the program desk at ABN AMRO before running the desk at Prudential Securities, where he spent seven years before joining Baird. He reports to Emil Skulski, director of program trading.

 


 

Ticonderoga Securities added two sales traders to its staff from Pali Capital. Barak Shibles, a former market maker and eight-year Deutsche Bank veteran with international trading experience, joins as a director in Boston. Robert Flaherty, a longtime sales trading veteran at Merrill Lynch and Deutsche Bank, also joins as a director.

 


 

Richard Burke joined the U.S. sales team for Options IT, builders of high-frequency trading infrastructure. In this role, he will cover the firm's U.S. buyside and sellside client base. Prior to joining Options IT, Burke held senior institutional sales roles at NYFIX and Tradeware. At both, his focus was electronic trading and connectivity sales to the firms' buyside and sellside client base.

 


 

Steve Grigaliunas joins KeyBanc Capital Markets as a sales trader in New York. Grigaliunas was previously with Jefferies & Co., where he worked for 10 years. He reports to Kevin Kruszenski, director of equity trading.

 

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