Standard Chartered has created a new client-focused unit within its financial markets business to provide optimisation of pricing and execution, access to liquidity hubs, client clearing, and an array of portfolio services within the derivatives market.
Creation of the unit, said the bank, is an attempt to help clients meet the challenges brought about by global derivatives regulation and the increased costs of operating in the OTC derivatives market.
The bank also appointed Andrew Sterry and Luke Brereton as co-heads of the unit, both of whom will report to Neh Thaker, global head of options trading and platforms.
Sterry and Brereton are based in London and Singapore.
Sterry was most recently European head of OTC clearing at Citigroup based in London, where he led the interpretation of the impact of European regulation on clients.
Brereton also joined Standard Chartered from Citigroup in London, where he was European head of origination for Citi futures and OTC clearing.
