COOPER NEFF & ASSOCIATES, L.P. FORMS NEW INTEREST RATE TRADING GROUP PIERSANTI TO HEAD GROUP, MASTRO TO LEAD CBOT TREASURY OPS.
RADNOR, Pa., June 28 /PRNewswire/ -- Cooper Neff, a leading international trading and market-making firm announced that it will reorganize its interest rate trading activities by merging its Eurodollar and U.S. Treasury operations into a single interest rate group. Thomas Piersanti will oversee the combined operation and Scott Mastro will return from Tokyo to run the company's CBOT Treasury Operations. "This important change represents a quantum leap in our approach to these markets," said Richard Cooper, CEO of Cooper Neff. "The new structure will allow us to trade seamlessly across the yield curve, taking positions on the shape, slope, or volatility of the curve across maturities. As part of the plan, the CME and CBOT floors will be united under a single trading desk with access to the cash, repo, and swaps markets. This is an important step as Cooper Neff evolves into a fully integrated trading firm." "This reorganization dovetails with the culmination of a quantitative research effort focusing on volatility term structures," explains Roy Neff, co-founder of Cooper Neff and Managing Partner of Cooper Neff Technologies. "Tom and Scott, in their new roles, will be responsible for a very important segment of our business." The new group will be headed by Thomas Piersanti, a five-year Cooper Neff veteran. Piersanti has been running the firm's Treasury Group since last August. Prior to that he was head trader on the CME for Mitsui T&B Options, Mitsui Trust's currency options unit and part of the strategic alliance between Cooper Neff and Mitsui Trust. The company also announced that it had named Scott Mastro Manager of CBOT Treasury Operations. Mastro had been in Tokyo for the last two years working for Cooper Neff Technologies in Mitsui Trust's Tokyo headquarters, where he assisted Mitsui in enhancing their Euroyen and Japanese Government Bond options operations. The firm's CME Eurodollar group will continue under the leadership of Kevin Nied, who returned to Cooper Neff last August after a two-year stint in currencies in the Mitsui Trust venture. Nied joined Cooper Neff in 1989. -0- 6/28/93 /CONTACT: Steven Bruce or Rick Stockton, both of Abernathy/MacGregor/Scanlon, 212-371-5999, for Cooper Neff & Associates, L.P./
CO: Cooper Neff & Associates, L.P. ST: Pennsylvania IN: SU:
LR -- NY014 -- 6099 06/28/93 08:56 EDT
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|Date:||Jun 28, 1993|
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