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McCabe Hurley, Principal

McCabe Hurley

McCabe Hurley is a derivatives market veteran, beginning her career while still in high school.  She is still active in the markets, but the sweeping changes of derivatives reform meant her experience as an instructor could be put to good use.   As a practitioner, her teaching-style is transactional, with the focus on the bottom line.  Learners leave her sessions with new skills to use the next day.  Learners further away from the revenue source leave with a better understanding of where their skills fit into the derivatives value chain.

Practitioner-to-practitioner, Integrated Training allows the learner to up-tier their knowledge without reverting to textbooks and theoretical constructs.  Rather, learners are immersed in the real market and all teaching is learner-centered.

A little about McCabe’s Background:

As a trader for a prop trading shop, her firm was an early adopter of options market making, employing volatility-driven strategies such as gamma scalping and skew trading.

She served two stints as a trader on exchange floors: First as an equity options market maker on the AMEX floor for Chicago Research & Trading, Inc. (CRT).  Later in her career, she returned to the NYMEX to trade natural gas options from the floor for her own partnership with Dr. Henry Jarecki.

She served a stint as a Derivative Product Solutions provider for Credit Lyonnais in New York and Paris.  Working with asset managers & hedge funds gave her early training in clearing OTC product and counterparty credit risk.

McCabe’s first foray into private consulting was in 2004.  General Motor’s credit downgrade (to below investment grade) caused all open Credit Default Swap contracts to be settled.  But General Motors Single Name CDS had 12 times the open interest than the number of bonds outstanding.

  • CDS buyers & sellers couldn’t agree to a “correct” settlement price for the CDS.  In a still manually driven market, MHDS designed an audit process for prospective clients and their counterparties.   The GM CDS Settlement event brought sweeping changes to the single name Corporate CDS.  Making CDS contracts more standardized with greater price discovery.

After that, McCabe joined Commerzbank’s Corporate Solutions desk covering the bank’s corporate clients with respect to their derivatives hedging needs.

After the Great Credit Crisis, she saw new consultant opportunities with Derivatives Reform.  MH Derivative Solutions, LLC was formed.  With the Reform agenda changing rapidly, McCabe provides value-chain training to buy & sell-side institutions.

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.

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