A TEAM OF DERIVATIVES EXPERTS

GAVIN JACKSON

Founder

Gavin co-founded Capitalab with David Bachelier after working for over a decade in the capital markets industry. Prior to Capitalab, Gavin was Head of Rates Quant Development at BNP Paribas for six years, overseeing interest rate options, exotics and flow areas across Europe. Before BNP Paribas, Gavin traded interest rate exotics and foreign exchange hybrids at Morgan Stanley in London. He began his career at Citi as a software developer in equities derivatives. Gavin graduated from the University of Cambridge with a First-Class MA in Computer Science.

SAM BUSSEY

Global Head of NDF and FX Reset Risk Management

Sam Bussey has spent over 35 years in the Financial Services industry, initially broking US Dollar and Deutsche Mark Interest Rate Swaps and Forward Rate Agreements. Sam moved into Real Estate in 2004, managing and valuing large property portfolios for companies such as Bear Sterns and Apollo Capital.

Sam re-joined the money markets in 2011, working for Tullet Prebon within their risk reduction business, and joined Capitalab in 2016 to establish Capitalab NDF Match.

A MESSAGE FROM CAPITALAB’S PRINCIPALS

Companies need derivatives more than ever to hedge their risks. The extremely wide variety of derivatives products also enables financial institutions to speculate on different markets in an efficient and effective way.

Because it addresses these needs, the derivatives market has reached a massive scale. In 2020, the total gross notional value of outstanding over-the-counter (OTC) derivatives contracts stood at US$607 trillion, with US$73 trillion for exchange-traded contracts, according to the Bank for International Settlements.

But although derivatives remain highly versatile and useful, users face greater challenges than before. The market for both listed and OTC derivatives has undergone a seismic change because of greater regulation across the world, including the European Market Infrastructure Regulation and similar rules from the Commodity Futures Trading Commission in the US. This has reduced risks for derivatives users and for the global financial system as a whole. However, it has also increased complexity and cost, including the capital cost of holding derivatives. Meanwhile, institutions are still faced with risks that occur because of a mismatch between the derivatives they use and the risk they are trying to hedge.

Capitalab, a division of BGC Brokers L.P., was set up in 2015 to confront these challenges for derivatives users. Beginning with the Swaptioniser®, a compression service for swaptions, we have devised a range of products that reduce the cost and complexity of using derivatives, and increase their effectiveness.

Our talented team includes experts in trading, quantitative analysis and technology. Together, they are able to offer creative, tailored solutions to our client’s problems, however complex.

We also partner with the derivatives industry as a whole to promote sustainable growth and resiliency in this ever-changing and ever-exciting marketplace.