JonesTrading Adds Derivatives Team

May 18 2009 | 9:46am ET

JonesTrading Institutional Services has added derivatives veterans Mark Neuman, Rich Breitenecker and Chris Rich to boost its marketplace position and respond to its clients’ demand for a greater range of offerings under its agency trading model.

Neuman, formerly of Susquehanna International Group in New York, will be a managing director in the firm’s New York office. Breitenecker will head JonesTrading’s derivatives agency trading desk, which will provide execution services in the derivatives markets. Breitenecker was most recently a senior producer with Barclays and prior to that was a producing derivatives salesman at Lehman Brothers and Merrill Lynch. 

Rich will take on the position of head options strategist while also supporting the derivatives agency trading desk. Rich was formerly senior options strategist at Newedge Group in Chicago and prior to that was principal at Rich Advisory Group. 

“JonesTrading's agency model enables clients to trade without the conflicts of interest inherent in capital providers,” said Packy Jones, JonesTrading’s chairman. JonesTrading aligns solely with the client interest of receiving unbiased idea generation and execution advice. This is extremely important in the derivatives space given the wider spreads, complex execution alternatives, and greater market inefficiencies.”

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