CAPABILITIES

MORE FIREPOWER. WHEN YOU NEED IT.

Independent hedging, derivatives and structuring expertise for institutions and corporate treasuries.

From straightforward hedging requirements to complex transactions, Para Bellum provides specialist expertise and extra capacity.

HOW YOU CAN ENGAGE PARA BELLUM

Four engagement models.

Bring in Para Bellum where you need additional expertise, capacity or independent judgement.

CORE ENGAGEMENTS

Design and deliver the solution.

HEDGE BUILD

Design and build FX, Rates, Credit, Equity and Volatility hedges around the underlying exposures and cash flows they are intended to protect, with the hedge parameters clearly defined. Existing programmes can be reviewed, optimised or rebuilt where required.

PORTFOLIO ENGINEERING

Design and embed ongoing FX, Rates, Credit, Equity and Volatility overlay programmes, including tail hedges, to manage portfolio exposures as market conditions change. Includes programme design, governance and monetisation strategy.

BALANCE SHEET & CAPITAL EFFICIENCY

Improve the use of capital, liquidity and collateral in portfolios and balance sheets.

STRUCTURING-AS-A-SERVICE

Senior-level derivatives and structuring capability without permanent headcount.

For teams that need regular access to a structurer or derivatives specialist, but not enough to justify a full-time hire.

EXPLORE CORE ENGAGEMENTS

SPECIALIST ENGAGEMENTS

Specialist capability when you need it.

DERIVATIVES PORTFOLIO REVIEW

An independent assessment of portfolio exposures, hedge effectiveness, risk and structural efficiency.

GOVERNANCE PACK

Board-ready frameworks for oversight, decision accountability and regulatory defensibility.

HEDGING & RESILIENCE PLAYBOOK

Practical hedging strategies designed to protect capital, preserve liquidity and maintain flexibility through periods of market stress.

EXPLORE SPECIALIST ENGAGEMENTS

BESPOKE ADVISORY

When the requirement

doesn’t fit a box.

Specialist mandates involving transactions, structures or portfolio situations where the experience required is difficult to find in-house.

FX & Rates policy frameworks
ISDA, CSA and derivatives infrastructure builds
Derivatives programme design
Derivatives and treasury capability builds

DISCUSS BESPOKE ADVISORY

INDEPENDENT REVIEWS

When objectivity matters.

An independent view when you need to test the thinking behind an important decision.

Independent review of portfolios, balance sheets, derivatives programmes and structuring decisions
Regulatory and governance response reviews
Trading desk and performance reviews
Risk scenario design and stress testing
Derivatives lifecycle events, transitions and portfolio restructuring
FX & Rates policy and hedging programme reviews
Overlay governance and performance reviews

DISCUSS AN INDEPENDENT REVIEW

HOW AN ENGAGEMENT RUNS

From first look to a team that can run it.

01

DIAGNOSE

Understand the requirement, exposures, constraints and desired outcome.

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02

DESIGN

Build the hedge, programme, framework or solution.

$

03

IMPLEMENT

Put it in place alongside your banks and counterparties, and see it through.

$

04

TRANSFER

Leave the team with stronger capability than before.

Engagements are scoped around the requirement, mandate and outcome.

THE TECHNICAL SPINE

The capabilities that power every engagement.

These capabilities sit underneath every engagement, integrated into the work rather than sold as standalone services.

01

DERIVATIVES & STRUCTURING

Design and structuring of derivatives and market exposures.

• FX, Rates, Credit, Equity, Volatility and cross-currency exposures
• Straightforward transactions through to more complex structures
• Long-dated and illiquid exposures
• ISDA and CSA optimisation
• Funding and financing structures
• Overlay programme design in FX, Rates, Credit, Equity and Volatility, including tail hedges

02

PORTFOLIO, BALANCE SHEET & CAPITAL EFFICIENCY

Improving the use of capital, liquidity and collateral in portfolios and balance sheets.

• Capital efficiency diagnostics
• Margin and collateral optimisation
• Balance sheet efficiency
• Liquidity release and redeployment

03

TRADE EXECUTION STRATEGY

Planning how large or sensitive trades are taken to market, and with whom.

• Large and sensitive transactions
• Novations, restructurings and exits
• Market impact control

04

GOVERNANCE & RISK ALIGNMENT

Governance, risk and policy frameworks that support clear decisions and accountable execution.

• Board and regulator-ready frameworks
• Stress testing and scenario design
• Risk governance alignment
• Derivative policy, ISDA documentation and governance for corporate treasuries building or rebuilding their derivatives capability
• Governance and monetisation frameworks for ongoing overlay programmes

05

TRADING & RISK INFRASTRUCTURE

Trading, risk and treasury systems, automation and workflow.

• Trading and risk platforms
• Automation and analytics
• Trade execution workflow design