Institutional broker BTIG Sydney has expanded its local product offering to include the trading of listed options on the Australian Securities Exchange.
The launch of the options desk adds to BTIG's existing institutional equities trading and outsourced trading businesses, and continues the firm's expansion in the Asia Pacific region.
BTIG has also hired Rod Skellet as a derivatives specialist to drive the local options business.
Skellet joins the firm after more than five years with Deutsche Bank's global markets division. Prior to that, he helped to establish Ord Minnett's option sales team in Australia.
He brings more than 25 years' experience to his new role where he will be responsible for expanding BTIG's equity derivatives franchise as well as complementing the institutional equities team.
BTIG Australia chief executive Paul Brech said the options desk specialises in working with customers to develop an options strategy that articulates their point of view in a particular name or strategy.
"We focus on delivering a high touch customised service and only hire highly experienced traders," Brech said.
"As the derivative markets have matured, Skellet has cemented his reputation for executing large and innovative trades for his client base.
"With increasing client demand, we expect rapid growth of the options business and we are confident Skellet's appointment will achieve this outcome."
