2. Company Overview
Capital Delta is a quantitative trading firm specializing in options-based strategies across multiple asset classes. Founded in 2025 and headquartered in Madrid, Spain, the company leverages cutting-edge technology and sophisticated mathematical models to identify and execute high-probability trades with favorable risk-reward profiles.
The firm operates at the intersection of financial markets expertise, quantitative research, and software engineering, with a focus on systematic, rules-based approaches to trading that minimize human bias and emotion.
2.1 Mission & Vision
Mission Statement
Capital Delta's mission is to deliver consistent, superior risk-adjusted returns through a fully automated, end-to-end options trading framework that operates with disciplined risk management and complete transparency.
We are committed to:
- Excellence in Execution: Deploying state-of-the-art technology to ensure optimal trade execution and minimal slippage
- Disciplined Risk Management: Implementing robust risk controls at every level of our operation
- Continuous Innovation: Constantly refining our models and strategies to adapt to evolving market conditions
- Complete Transparency: Providing investors with clear insights into our strategies, performance, and risk metrics
- Ethical Conduct: Upholding the highest standards of integrity and fiduciary responsibility
Vision Statement
Our vision is to become the leading cross-Atlantic quantitative hedge fund specializing in options strategies, recognized for our technological innovation, institutional-grade infrastructure, and fiduciary excellence.
By 2030, we aim to:
- Establish Capital Delta as the partner of choice for institutional investors seeking systematic options exposure
- Build a globally diversified investor base across Europe and North America
- Develop a comprehensive suite of strategies that perform across various market regimes
- Create an organization that attracts and retains the best talent in quantitative finance and technology
- Set new industry standards for operational excellence and risk management in options trading
2.2 Organizational Structure
Capital Delta is structured to optimize the interplay between research, technology, and trading operations, with clear separation of responsibilities and robust governance controls. Our organizational design evolves through the different phases of our roadmap, scaling appropriately as we grow.
Current Structure (Phase 0)
In our current proprietary trading phase, we maintain a lean and agile structure focused on building our track record and refining our technology stack:
Founders/Partners ├── Trading & Research │ ├── Strategy Development │ ├── Backtesting & Simulation │ └── Risk Management └── Technology ├── Infrastructure & Execution ├── Data Engineering └── System Monitoring
Intermediate Structure (Phase 1-2)
As we prepare for regulatory licensing and fund formation, we'll expand our structure to include compliance and operational functions:
Management Committee ├── Trading & Research │ ├── Strategy Development │ ├── Backtesting & Simulation │ └── Risk Management ├── Technology │ ├── Infrastructure & Execution │ ├── Development Team │ └── Data Engineering └── Operations & Compliance ├── Legal & Regulatory Affairs ├── Finance & Administration └── External Service Providers
Target Structure (Phase 3-4)
Upon fund launch and as we scale to full AIFM status, we'll implement a comprehensive institutional structure with appropriate checks and balances. Given the deep integration between technology and investment strategy at Capital Delta, the CTO/CIO role is combined to ensure seamless alignment between our technological capabilities and investment decisions:
Board of Directors ├── CEO │ ├── CTO/CIO │ │ ├── Investment Committee │ │ │ ├── Head of Research │ │ │ │ └── Quant Research Team │ │ │ └── Head of Trading │ │ │ └── Trading Operations │ │ ├── Technology Division │ │ │ ├── Infrastructure Team │ │ │ ├── Development Team │ │ │ └── Data Science Team │ │ └── Risk Committee │ │ └── Risk Management Team │ └── COO │ ├── Finance & Administration │ ├── Legal & Compliance │ └── Investor Relations └── Independent Directors ├── Audit Committee └── Governance Committee
Key Governance Bodies
Investment Committee
- Oversees all investment decisions and strategy implementations
- Reviews performance and risk metrics
- Approves new strategies and significant modifications to existing ones
- Meets weekly with quarterly deep-dive sessions
Risk Committee
- Sets risk limits and monitors adherence
- Reviews portfolio exposures and stress tests
- Approves risk management methodologies
- Meets bi-weekly with monthly comprehensive reviews
Board of Directors
- Provides strategic oversight and governance
- Includes independent directors with relevant industry expertise
- Reviews regulatory compliance and operational controls
- Meets quarterly with annual strategy sessions
2.3 Management Team & Key Hires
Current Leadership Team
Joaquín Béjar, CTO/CIO & Co-Founder
Background & Expertise:
- 20+ years of expertise spanning traditional finance and cryptocurrency markets
- Senior Quantitative Developer with experience at Sphinx, Swissblock, Flow Traders, and Deutsche Bank
- Specialized in developing sophisticated trading algorithms, AMM mechanisms, and DeFi protocols
- Expert in building high-frequency trading systems and exchange connectivity
- Proficient in Rust, Go, Python, C++, and cloud infrastructure (AWS, Azure, GCP)
- BSc in Computer Science, BSc in Mathematics, MSc in Artificial Intelligence, currently pursuing BSc in Finance at London School of Economics
Key Achievements:
- Led development of liquidity optimization models and pricing strategies for decentralized perpetual swaps
- Spearheaded exchange connectivity development (Kraken, Binance, OKX, Interactive Brokers)
- Developed order management and trade execution engines for cryptocurrency trading
- Engineered C++ implementation of FIX 4.2 Protocol for high-frequency trading
- Published research on "Missing values imputation based on Random Forests Regression" (European Commission)
Responsibilities:
- Overall investment strategy and technological direction
- Integration of quantitative research with technological implementation
- Development and oversight of trading algorithms and execution systems
- Management of the Investment Committee and Technology Division
- Strategic allocation of capital across different strategies
- Exchange connectivity and order management systems
- Implementation of risk management frameworks and monitoring tools
- System reliability, security, and performance optimization
[Partner Name], CEO & Co-Founder
Background & Expertise:
- 12+ years in options trading and volatility strategies
- Background in quantitative finance and derivatives pricing
- Previously managed options portfolios at [Previous Firm]
- PhD in Financial Mathematics from [University]
Responsibilities:
- Overall firm strategy and vision
- Investment process and strategy development
- Risk management framework
- Investor relations and capital raising
Advisory Board
We are in the process of assembling an advisory board with expertise in the following areas:
- Regulatory compliance and fund governance
- Institutional asset management
- Options market microstructure
- Machine learning and AI applications in finance
Planned Key Hires (Phase 1-2)
Head of Research
Responsibilities:
- Lead quantitative research efforts
- Develop and validate new trading strategies
- Oversee backtesting and simulation infrastructure
- Collaborate with trading and technology teams
Requirements:
- PhD in Mathematics, Physics, Computer Science, or related field
- 8+ years in quantitative research roles
- Deep expertise in options markets and derivatives pricing
- Strong programming skills and familiarity with research tools
Timeline: Q3 2026
Head of Trading Operations
Responsibilities:
- Oversee day-to-day trading operations
- Monitor execution quality and market impact
- Manage broker relationships and venue connectivity
- Implement best execution practices
Requirements:
- 10+ years in trading operations
- Experience with options markets and electronic execution
- Understanding of market microstructure and order types
- Strong analytical and problem-solving skills
Timeline: Q4 2026
Compliance Officer
Responsibilities:
- Develop and implement compliance framework
- Prepare for regulatory licensing (SGEIC/AIFM)
- Create policies and procedures documentation
- Ensure adherence to regulatory requirements
Requirements:
- 8+ years in financial compliance
- Experience with AIFMD and EU regulatory frameworks
- Knowledge of Spanish financial regulations
- Previous experience with fund setup and licensing
Timeline: Q1 2027
Senior Software Engineers (2)
Responsibilities:
- Develop and maintain trading systems
- Implement execution algorithms and order management
- Build risk management and monitoring tools
- Ensure system reliability and performance
Requirements:
- 5+ years in financial software development
- Experience with Rust, C++, or similar languages
- Knowledge of distributed systems and real-time processing
- Understanding of financial markets and trading concepts
Timeline: Q2-Q3 2026
Hiring Strategy
Our approach to building the team emphasizes:
- Quality over quantity: Focusing on exceptional talent with domain expertise
- Cultural fit: Seeking individuals who share our values of excellence, innovation, and integrity
- Complementary skills: Building a diverse team with varied backgrounds and perspectives
- Long-term alignment: Implementing compensation structures that reward long-term performance
We plan to leverage our network in the quantitative finance and trading technology communities, as well as engage specialized recruiters for key positions.