BNP Paribas has replaced the head of the US index desk after the French bank reported an US$80m loss in derivative trades linked to the S&P500 benchmark late last year as turbulence rattled global capital markets.
Antoine Lours, who was head of US index trading at BNP Paribas, left the French bank in recent weeks, according to the Financial and Regulatory Authority (Finra) registry. Lours, the New York-based head of US index trading since 2004, has been let go by the French bank after positions he took on the S&P 500 Index reportedly went wrong, with the bank incurring in trading losses in the run-up to Christmas after trade tensions between the US and China made US stocks fluctuate heavily hitting i
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