Former JP Morgan global clearing chief joins HFT futures firm

Olsen previously served as JP Morgan's global head of futures, options and OTC clearing.

David Olsen, JP Morgan’s former global head of clearing, has joined high frequency trading (HFT) firm Jump Trading, The TRADE Derivatives understands.

Olsen joined Jump Trading this month after working almost 25 years at the investment bank. Details of his new role is not yet known.

Olsen was one of JP Morgan’s longest serving employees within its derivatives business, having served most recently as global head of futures, options and OTC clearing.

He was replaced by Nick Rustad in February, in which it relocated its global clearing business from New York to London. Olsen also previously headed the bank’s government agency trading unit.

Speaking at the time of the move, Jason Sippel, global head of prime services, said in an internal memo: “I also would like to take a moment to thank Dave Olsen, who has communicated his intention to pursue new opportunities. Dave’s thoughtful and resolute leadership during a period of extraordinary regulatory and market structure change has been of enormous service to J.P. Morgan and our clients.”

Both Olsen and Jump Trading could not be reached for comment at the time of print.

Jump Trading is a proprietary trading firm with locations in Chicago, New York, London and Singapore.