US based Direct Access Partners, a diversified financial conglomerate, has bought the listed equity derivative trading team from IA Englander for an undisclosed sum, expanding its capabilities in a range of equity derivative products.
According to the company, the Direct Access options team empowered with the recent acquired team will concentrate on dynamic hedging, yield enhancement, stock replacement and instability strategies for client portfolios.
Direct Access will merge the purchased team into its equity and fixed income trading teams to execute its plan through listed equity derivatives, including single stock, ETF and index options.
Direct Access Partner CEO and founder Ben Chinea said the IA Englander transaction furthered the company’s 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," Chinea commented.
Direct Access Partners managing partner Donald Motschwiller said, "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."
Mark Neuberger started his career with Morgan Stanley and worked 23 years there ultimately moving to the US Single Stock Options
Direct Access Partners provides multi-asset class trading capabilities in more than 100 developed and emerging markets to a range of buy-side clients including mutual funds, hedge funds and registered investment advisers.