Optiver, the global market maker, has appointed a managing director from Barclays to lead its newly established exotics trading desk, according to a person familiar with the matter.
New Appointment and Role
The hire, who previously served as a managing director at Barclays focusing on exotic derivatives, will oversee Optiver's expansion into complex structured products. The move signals the firm's ambition to diversify beyond its core electronic trading business.
Exotic derivatives, which include structured notes and barrier options, are typically customized and less liquid than vanilla options. Optiver's foray into this area marks a strategic shift towards higher-margin, bespoke products.
Strategic Expansion
The new desk will operate within Optiver's trading division, focusing on both listed and over-the-counter exotic options. The firm aims to leverage its technology and risk management expertise to compete with established players in the space.
According to the source, the appointment is part of a broader push to capture market share in the growing demand for tailored derivative solutions from institutional clients.
Market Context
Optiver, known for its high-frequency trading in equities and futures, has been gradually expanding into new asset classes. The exotics desk adds to its existing options trading capabilities, which include equity and index derivatives.
The move comes as banks and market makers increasingly focus on structured products to boost revenues amid low volatility in traditional markets. Barclays declined to comment on the departure.
