UK based forex and derivatives broker Sucden Financial has made an announcement yesterday stating that it has appointed industry veteran Rafael Caporale as the head of its LME options market making division. Rafael is a veteran with nearly two decades of experience in financial sector and more than a decade of experience dealing with options market. The firm’s decision to choose Rafael to run its highly active and fast growing market making operations division is viewed by market participants as a strong emphasis on its commitment to development of this particular product offering. In his new role as Head of LME Options Market Making, Rafael is responsible for overseeing the firm’s dedicated options trading team, focusing on and targeting clients looking for liquidity in LME options across trade lifecycle as per details provided by the firm in its public statement. Prior to his current tenure at Sucden Financials, Rafael was part of Societe Generale Corporate in their investment banking division.
He served the French bank as its Director for LME base metal trading and options market making divisions for more than four years having joined the firm back in June 2015. However, Rafael was a veteran in the industry long before he joined the French bank, having served better part of his career since early days in the options sector. He started his career as Strategy and CEE Equities Analyst at Capital Invest (now known as Pioneer Investments) but soon moved on to Jefferies Bache where he spent more than a decade in the options market. Having moved on to Bache less than two years since starting his career, Rafael had maintained exclusive focus to options trading. Rafael served in Jefferies Bache for eleven years having joined the firm back in July 2004 as an LME options trader and rose all the way up to the role of a Senior Vice President by the time he resigned from Bache in June 2015.
His role is a newly created position in Sucden, given their focus on building up market positions in options and fixed income market which is mostly occupied by banks in general. Speaking about Rafael’s decision to join Sucden, Marc Bailey, Deputy CEO of the firm commented, “Rafael is very well-regarded within the market and has a proven track record in LME options, making him the ideal candidate to further enhance Sucden Financials’ portfolio of services and underlines the firm’s commitment to LME trading”. Speaking on same note Rafael added, “Having worked with Sucden Financial as a counterparty for many years, I am now very excited to be a part of the family and be able to combine my market expertise in options with their extensive customer base. Together, these elements will make for a very successful mix both for the company and our clients”.
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