FX and derivatives broker Sucden Financial has onboarded options industry veteran Rafael Caporale to run its fast-growing market-making operations, underscoring its determination to expand that business.
Rafael has been named Head of LME Options Market Making and in his newly-created role he will be tasked with overseeing the group’s dedicated options trading team, targeting clients looking for liquidity in LME options across the trade lifecycle, the company said.
Prior to Sucden, Caporale had been with the investment banking arm of Societe Generale Corporate (SGCIB) for over four years. He joined the French lender back in 2015 as a derivatives trader and has since worked his way up to head LME base metals trading and options market-making.
Before that he spent nearly ten years at Jefferies Bache where he served as LME Options trader and later senior vice president.
Sucden expands options business
The appointment of Caporale comes as Sucden is building up market positions in options and fixed income markets once occupied by banks.
Established in 1973, Sucden Financial is a derivatives broker operating in a broad range of markets, including exchange and OTC traded financial and commodity futures and options, equities, and foreign exchange. Sucden Financial is part of Sucres & Denrées, which has a presence in over 30 locations worldwide.
Announcing the appointment, Sucden Deputy CEO Marc Bailey said; “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 Financial’s portfolio of services and underlines the firm’s commitment to LME trading.”
Caporale also 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.”