Varun Nayyar, CFA

Product Manager

Hong Kong, Hong Kong SAR18 yrs 6 mos experience

Highly Stable

Key Highlights

Two decades of experience in currency and rates markets.
Expert in macro-focused investment strategies.
Proven track record in market making and liquidity provision.

Stackforce AI infers this person is a seasoned professional in the Fintech industry with a focus on FX and interest rate trading.

Contact

Skills

Core Skills

Portfolio ManagementMacro StrategyMarket MakingFx TradingCredit StructuringEmerging Markets

Other Skills

Asia MacroBankingBloombergBondsBusiness AnalysisCapital MarketsClient focus on hedge fundsCreditCredit DerivativesCredit notesCross currencyCross currency basisCross currency basis swapsCross currency marketCross currency market making

About

I have been trading currency and rates markets since last two decades. Market making and risk taking role at two major FX focussed investment banks and last few years at hedge funds. Lived and worked in London, Tokyo, New York and Hong Kong. Taking macro views based on various central bank policies, STIR (Short Term Interest Rate) products and funding markets. As a portfolio manager I manage a macro focussed strategy based on events in Interest Rates, FX and Funding markets across G10 and Asian EM with focus on Japan and all JPY derivatives.

Experience

18 yrs 6 mos

Total Experience

5 yrs 6 mos

Average Tenure

1 yr 11 mos

Current Experience

Millennium

Portfolio Manager

May 2024 – Present · 1 yr 11 mos · Hong Kong SAR

STIR, FX and Asia Macro. Strategy focussed on Cross currency basis swaps, funding themes and short term interest rates.

STIRFXAsia MacroCross currency basis swapsFunding themesShort term interest rates+2

Segantii capital management

Portfolio Manager

Jul 2019 – Apr 2024 · 4 yrs 9 mos · Hong Kong

Macro and STIR portfolio manager. Focus on G10 along with Asian STIR markets. Investment strategy based on relative value and events in short end rates cross currency market and global macro. Structure macro overlay and tail hedges for the fund.

Macro portfolio managementSTIR marketsRelative value investment strategyCross currency marketGlobal macroPortfolio Management+1

Deutsche bank

2 roles

Director, STIR Trading, New York

Dec 2016 – May 2019 · 2 yrs 5 mos

Cross currency and FX Forwards market maker in EUR, GBP and JPY in NY time zone. Took directional view on G10 rates and currencies and various bond futures. Focus on US real money, asset managers, hedge funds and corporates. Key liquidity provider in Interest Rate Swaps, FRA's, OIS. One of the biggest market maker in Long Term EUR FX, following Yankee issuance and corporate hedging.

Cross currency market makingFX ForwardsDirectional view on G10 ratesLiquidity provisionInterest Rate SwapsMarket Making+1

Head of STIR Trading, Japan

Sep 2013 – Nov 2016 · 3 yrs 2 mos

Head of FX Forward Trading. Trading JPY FX Forwards, OIS, Cross currency basis, Long Term FX Swaps (LTFX) and IRS. Apart from the main Japan mandate, also actively traded AUD/NZD FX/Rates market. Priced local Asian NDF markets including KRW, TWD, INR. Client focus on real money, hedge funds and central banks in the region.
E Platform and prime brokerage: Responsible for electronic forwards pricing, maintaining client KPI's and price skews. Key person for forward business to be involved with various prime brokerage issues with Japanese retail aggregator community with goal of increasing turnover.
Balance Sheet Optimisation: Played significant role in balance sheet reduction, CSA amendments, trade compression to achieve balance sheet friendly returns for the business.

FX Forward TradingTrading JPY FX ForwardsCross currency basisLong Term FX SwapsClient focus on hedge fundsMarket Making+1

Ubs

2 roles

Head of Asia STIR, Japan

Promoted

Jan 2009 – Sep 2013 · 4 yrs 8 mos

Market making in JGB repo, bills, OIS and IRS in Japan. Actively market making in various tenor basis, interest rate products and derivatives upto 10 years. Main person on a global yen forward book of three traders looking at various cross currency and FX Forward opportunities. Big driver for the swap volume initiative for Euromoney Survey. Under my presence continuously voted #1 for Risk Magazine for JPY Forwards/derivatives.

Market making in JGB repoOISIRSInterest rate productsDerivativesMarket Making+1

EM Credit Structuring, London

Jun 2007 – Jan 2009 · 1 yr 7 mos

Started as a grad on the Emerging Market Credit Desk. Structuring correlation, credit notes and total return swaps for clients needing exposure to emerging market (EMEA) sovereign credit. Traded local markets rates, FX and bonds focussing on Eastern European Sovereigns and corporates.

Emerging Market CreditStructuring correlationCredit notesTotal return swapsTraded local markets ratesCredit Structuring+1