TRADING. LIQUIDITY. WHAT COMES NEXT.

Built in the markets.
Focused on
what’s next.

Specialist financial markets consulting at the intersection of trading, technology and new asset classes.

From futures and options to digital assets and AI compute. Practical insight to build stronger trading businesses, deepen liquidity and assess new opportunities.

Perspective earned
on the trading desk.

Since 2012Financial markets experience
TradFi ↔ DigitalAcross markets and infrastructure
MBA · MEngBusiness, engineering & artificial intelligence

01 / AREAS OF EXPERTISE

Depth in the detail.
Perspective across markets.

Trading decisions, liquidity and infrastructure are connected. The most useful advice understands how each part changes the others.

01

Futures & options

Pricing, volatility and risk through the lens of a working trading desk. Experience in European rates options, multi-expiry portfolios and futures-based hedging.

  • Options pricing, volatility surfaces and relative value
  • Delta, gamma, vega and theta risk; futures and spread hedging
  • Electronic quoting, execution and desk workflows

MARKET EXPERIENCE / Bund · Bobl · Schatz · Euribor · Short Sterling

Discuss derivatives
02

Liquidity provision & market making

Connect pricing quality, inventory discipline and commercial objectives. Design liquidity provision around the realities of your market, counterparties and capital.

  • Systematic quoting and spread construction
  • Inventory risk, hedging and cross-venue liquidity
  • Market-maker evaluation, incentives and liquidity measurement
Discuss liquidity
03

Trading & execution

Turn a trading idea into an operating capability. Bring trading, product and engineering together around execution quality, measurable performance and robust controls.

  • Trading desk design and operating models
  • Smart order routing, liquidity aggregation and execution analysis
  • Systematic strategy research, Python and machine learning
Discuss your trading business
04

Fixed income

A foundation in European government bond and short-term interest rate options, with an understanding of how curve dynamics, policy expectations and market structure influence trading.

  • Rates derivatives and volatility market structure
  • Curve exposure, relative value and portfolio risk
  • Exchange, clearing and trading workflow considerations
Discuss fixed income
05

Digital assets

Institutional trading experience across spot, linear derivatives and OTC markets. Understand the opportunities and operational demands of fragmented, always-on markets.

  • Centralised and decentralised market structure
  • OTC trading, API quoting and institutional liquidity
  • Venue, counterparty, inventory and liquidity risk frameworks
Discuss digital assets
06

AI compute & inference

Bring derivatives and market-design thinking to compute capacity and AI inference consumption. Assess how commercial supply can support price certainty, transferable contracts and a credible market.

  • Fixed-price supply, price caps and forward pricing
  • Standardised consumption units, delivery terms and successor rules
  • Secondary-market feasibility, benchmarks and liquidity design

FOCUS / The economics of compute and inference consumption

Explore compute markets
07

Frontier assets

Turn a new market idea into a testable commercial proposition. From satellite capacity to other emerging assets, start with the underlying rights, natural buyers and sellers, and the practicalities of delivery.

  • Product standardisation, contract units and delivery windows
  • Order books, RFQs and auctions suited to the available liquidity
  • Market feasibility, price discovery, settlement and routes to market
Explore an emerging market

02 / HOW I HELP

A clear question.
A practical way forward.

For trading firms, exchanges, institutional teams and founders building the next generation of markets.

03 / THE EXPERIENCE BEHIND THE ADVICE

A practitioner’s
perspective.

Bradley Howell MBA, MEng

My career spans European rates options, the operation of a regulated trading business, and institutional digital asset liquidity.

I bring together the trading desk’s attention to pricing and risk, the operator’s focus on execution, and an engineering background in artificial intelligence.

EDUCATION

MBA · London Business School

MEng, Electronic Engineering with Artificial Intelligence · University of Southampton

MARKETS

Futures, options & fixed income

15 years of trading experience across futures, options and spot markets in fixed income and digital assets, including leadership of European government bond options desks and trading teams at a crypto-native unicorn.

TRADING

Market making & execution

Built an OTC trading business serving more than 100 institutional counterparties through API quoting, algorithmic execution and voice trading. Oversaw 40+ trading operations across 30 venues, providing algorithmic liquidity around the clock.

QUANTITATIVE

Python, pricing & quantitative models

Experience developing models for systematic market making and optimal execution, alongside contributions to proprietary options pricing and risk systems.

RISK & LEADERSHIP

Risk frameworks & trading leadership

Designed exchange and OTC risk frameworks covering inventory, counterparties, venues and liquidity concentration. Led a 45-person trading and product/engineering team, doubling like-for-like revenue within 12 months.

THE APPROACH

Start with the market.
Understand the mechanics.
Make the decision clearer.

Every engagement begins with your objectives, the evidence available and the constraints that matter. Scope, outputs and ways of working are agreed before work starts.

04 / START A CONVERSATION

What are you
working on?

A trading challenge. A liquidity question. A market that is taking shape. Tell me where you are and what you want to achieve.

01   Share the context02   Explore the fit03   Agree the next step

Next, review your enquiry and open it in Gmail or your email app. You choose when to send.

Please keep your initial message high level and leave out confidential trading or account information.

YOUR ENQUIRY

Ready for the
next conversation.

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ABOUT YOUR INFORMATION

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Brad Capital is the consulting practice of Bradley Howell. Enquiries you send are received through Google Workspace and used to respond to you and discuss the services you request. For questions about your information, contact brad@brad.capital.