NEW YORK, March 6 (Reuters) - Sunrise brokers, a specialist in equity derivatives, has hired Stuart Hennelly as global head of interest-rate options to launch an interest-rate desk as it moves to gain market share in the interest-rate derivatives space, according to BGC Group.
Hennelly's hire comes as Sunrise, a growing brand within BGC that caters to banks and buy-side firms, has been expanding its business over the past year across other asset classes such as futures and energy and commodities.
Hennelly joins from TP Icap where he worked for more than 20 years and was its head of interest-rate options. London-based Hennelly will be moving to New York to take up the role and will report to Charles Veneziano, senior managing director for rates at BGC.
Sunrise was founded in 1991 and offers broking services across equity, credit, FX and commodity derivatives. BGC acquired the firm in 2016.
Earlier this year, BGC received regulatory approval for its FMX Futures Exchange to operate an exchange for U.S. Treasury and secured overnight financing rate (SOFR) futures, a launch that if successful, would put it in competition with CME Group. (Reporting by Laura Matthews)
