McCabe is a derivatives market veteran, beginning her career while stil in high school. She is still a revenue producer, but the sweeping changes of derivatives reform made re-training was necessary. As a practitioner, her style of teaching is transactional, with the focus on the bottom line. Learners leave her sessions with new skills to use the next day.
This practitioner-to-practitioner, Integrated Training allows the learner to uptier their knowledge without reverting to textbooks and theoretical constructs. Rather, learners are immersed in the real market and all teaching is learner-centered.
As a trader for a prop trading shop, her firm was an early adopter of options trading, employing strategies such as conversion/reversals and gamma scalping. Her firm was also an early adopter of trading index futures versus the index components.
She went to work for Chicago Research & Trading as an options market-maker on the American as an equity options market maker on the AMEX floor.
Provided an opportunity to market interest rate swaps to asset managers, she learned new skills and enjoyed the idea-driven style of selling derivatives to buyside. She sold asset swaps, structured notes as well as asset-liability hedging solutions to this new swaps market participant.
She returned to the floor when her old arbitrage mentor offered her a partnership. She traded natural gas options from the floor for a couple of years.
McCabe’s first foray into consulting was when General Motors Single Name CDS. This would be the first opportunity for MHDS to run an audit process in a very manually driven market. With over 12 times the amount of bonds outstanding and neither buyer or seller agreeing to a settlement price, this meant hand matching each contract and offsetting as many contracts as possible.
As she consulted with many Wall Street firms, she saw that people knew their jobs quite well, but weren’t clear as to where they stood in the process. It was then MHDS began developing an integrated, value chain based training program.
McCabe set that project aside to work for another European bank. This time, she was covering corporations providing them hedge solutions, asset-liability management and financing tools.
She left the bank after the Great Credit Crisis has passed. The opportunity to apply value chain training with new regulatory reform ahead was clear. She enjoys the business and considers a clients culture and business model as important as the markets in which their active.
The result is a woman who doesn’t complain, she resolves. Her popularity as an instructor and respected for her ability to grasp the needs of senior managers with both learners and management.