Sat, Oct 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Direct Access Partners acquires listed equity derivative team from I.A. Englander & Co.

Wednesday, September 12, 2012
Opalesque Industry Update – Direct Access Partners, LLC (Direct Access), a diversified institutional financial services enterprise, today announced that it has acquired the listed equity derivative trading team from I.A. Englander & Co. The acquisition marks the significant expansion of the firm’s capabilities in a wide range of equity derivative products.

The Direct Access options team will focus on dynamic hedging, yield enhancement, stock replacement and volatility strategies for client portfolios. The team will implement its strategies through listed equity derivatives, including single stock, ETF and index options. They will be fully integrated into the firm’s equity and fixed income trading teams.

The team joining Direct Access from I.A. Englander includes Harry Silver, Mark Neuberger, Martin Field and Steven Goldfarb. Each team member has over 20+ years of option trading experience at major investment banks, hedge funds and boutique firms.

Ben Chinea, CEO and Founder of Direct Access Partner added, “The I.A. Englander transaction is another step in the execution of our business strategy to expand into relevant and complimentary business lines. The team is an excellent fit as we continue to evaluate and actively pursue new business opportunities in asset management and global institutional trading across all asset classes.”

Donald Motschwiller, Managing Partner of Direct Access Partners added, “We could not be more excited about the I.A. Englander team joining Direct Access as we continue to execute on our growth and diversification strategy. There are few teams that possess the track record, industry recognition, and decades of experience of this group. The team will incorporate sophisticated option analytics, fundamental, technical, and volatility analysis utilizing our intellectual capital and our uncompromising commitment to client service while providing insightful ideas that enhance our clients’ real returns.”

“We are impressed with the depth and diversification of Direct Access’ businesses, robust infrastructure and passion for serving their clients,” said Stephen Tobias, President of I.A. Englander & Co. “The derivatives team is highly talented, leveraging our firm’s deep experience sourcing liquidity. The equity derivative markets continue to expand and this team offers significant expertise and strategic counsel to Direct Access’ larger customer base.”

Harry Silver has 23 years Wall Street experience, the majority of which was at Morgan Stanley, becoming a Managing Director at 34 and co-headed their Equity Index derivative desk. He was also previously with Jefferies & Co. and a multi-billion dollar hedge fund.

Mark Neuberger began his career in 1981 at Morgan Stanley and spent 23 years there ultimately heading the U.S. Single Stock Options desk as Managing Director. Mark has employed his volatility strategies for both the buy side and the sell side including JP Morgan where he was a Managing Director in charge of U.S. Single Stock Options.

Martin (Marty) Field brings 27 years of options experience to Direct Access, including managing American Stock Exchange floor operations for JAS Securities and also a market maker during that time. Subsequent to that he was a Vice President with the Single Stock Options desk at J.P. Morgan.

Steven Goldfarb has been in the industry since 1991 including roles at Susquehanna Investment Group, EntreMed Inc. and Pali Capital.

(press release)

Founded in 2002, Direct Access Partners, LLC is a diversified, institutional financial services enterprise. www.daptrading.com

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad