A Team Comprised Of
Mr Gavin Jackson co-founded CAPITALAB with Mr David Bachelier after working over a decade in the capital markets industry. Prior to CAPITALAB, Mr Jackson served as Head of Rates Quant Development at BNP Paribas for six years and oversaw interest rate options, exotics and flow areas across Europe. Before joining BNP Paribas, Mr Jackson traded Interest Rate Exotics and Fx Hybrids at Morgan Stanley in London. Mr Jackson began his career at Citigroup, where he worked as an equities derivatives software developer. Mr Jackson graduated from the University of Cambridge with a First Class MA (Cantab) degree in Computer Science.
Having traded Interest Rate options for more than a decade, Mr David Bachelier has a deep understanding of the interest rate market globally. Along with Mr Gavin Jackson he co-founded CAPITALAB. Previously, Mr Bachelier worked from 2007 to 2015 at BNP Paribas as an interest rate options trader in London, Hong Kong and Singapore, overseeing a number of Interest rate option products and strategies. He also traded Interest Rate options at HSBC in both Hong Kong and Paris from 2004 until 2007 and first worked at BNP Paribas from 2002 until 2003 in Risk Modelling and Consumer Finance. Mr Bachelier graduated from Ecole Centrale de Paris in 2002 with a degree in engineering, mathematics and finance.
Head Quantitative Analysis
Mr Olivier Alvarez is Head of Quantitative Analysis at CAPITALAB. Previously, Mr Alvarez worked at BNP Paribas as Head of Quantitative Research for Asia, covering interest rates and FX (flow, options and exotics). He oversaw for the region the development of the pricing and risk management platforms (modelling and technology) for the front office. This included integrating new regulatory requirements in pricing and risk management (collateralisation, clearing, margining). Prior to joining BNP Paribas in 2006, Mr Alvarez was an associate professor in Applied Mathematics at University of Rouen, France. Mr Alvarez graduated from Ecole Polytechnique, France. He holds a PhD in Applied mathematics from Paris-Dauphine University and an MBA from Cranfield University.
CAPITALAB® is a division of BGC Brokers L.P.,
which is authorised and regulated by the UK Financial Conduct Authority
A Message From Capitalab’s Principals
The market for both listed and over-the-counter (OTC) derivatives is undergoing a seismic change in how it operates. Market participants are faced with heightened regulation worldwide, and the complexities and challenges of an increasingly interconnected global market makes it more and more difficult to handle large portfolios of outstanding derivatives. As a result, the demand for innovative technology solutions has been very strong and at CAPITALAB we are providing one of the most flexible and efficient solutions for our clients.
The derivatives market has been growing rapidly for the past several years, with the total gross notional of OTC derivatives reaching US$630 trillion and for listed derivatives US$57 trillion globally at the end of 2014 (source: BIS). These dynamics have led to the emergence of a host of services including Swaps Execution Facilities, Trade Reporting Repositories and other technology solutions designed to promote risk mitigation, operational efficiency and cost reduction in the market.
CAPITALAB was formed in 2015 as a division of BGC Brokers L.P. to help market participants optimise their portfolios, reduce capital requirements, or the counterparty exposure and risks involved in holding derivatives instruments, including complex products like Swaptions. Our talented team of professionals comprises trading, quantitative analysis and technology experts who are focused on developing innovative technologies that effectively meet our clients’ needs in this rapidly evolving marketplace.
In September 2015 we successfully launched our first product, a compression service called Swaptioniser®. This is the first industry solution for Interest Rate Options and we intend to expand to other asset classes shortly. With calls for a stronger, more secure derivatives market place, as outlined in regulatory changes such as Basel III, EMIR and Dodd-Frank, the adoption of innovative portfolio compression and risk mitigation services such as Swaptioniser is playing a key role in helping market participants meet these requirements.
As we continue to grow our offering, we value your feedback and observations and look forward to partnering with the industry to promote sustainable growth and resiliency in this dynamic global marketplace.