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Through its annual global conference series and ongoing communications, Global Volatility Summit unites global hedge fund managers and industry leaders to educate institutional investors on the volatility and quantitative universe.

About GVS

Paul Britton, founder and Chief Executive Officer of Capstone Investment Advisors, LLC, conceptualized the Global Volatility Summit (“GVS”) over 10 years ago as institutional investors became increasingly focused on exploring the value add of options and volatility strategies to institutional investment portfolios. At the time, the institutional investor community did not have adequate access to information about the options markets and strategies implemented by volatility focused managers. In 2010, a few hedge fund managers along with a few senior experts in the industry united in New York City for a conference marking the inaugural Global Volatility Summit in New York. In 2017, GVS expanded across international borders and founded the first annual Global Volatility Summit in Tokyo (“GVS Tokyo”).

Today, the mission of educating institutional investors about volatility and quantitative strategies within a global institutional investment portfolio remains, and the event has grown in attendees,
as well as the scope of managers and strategies. The GVS New York event now hosts 16 hedge fund managers and 400 attendees at Chelsea Piers for an annual one-day conference. Among the attendees are global senior investment professionals from public and private pension funds, insurance companies, endowment and foundations, consultants and family offices, representing over $35 trillion1 in assets under management. Participating hedge fund managers, industry experts and practitioners discuss a variety of topics to help investors manage their own portfolios, employ interesting hedges or thoughtful trade ideas and understand the current market environment all through the lens of volatility. Investors also have the opportunity to network amongst peers to foster strategy discussions. In addition, each year the keynote speakers are thoughtfully selected to show how volatility plays a role outside of the financial markets including through the arenas of politics, business, sports, and leadership.

1Data pulled from Preqin. Represents attendees at the Virtual 2020 GVS

2022 Global Volatility Summit

Save the date for September 13, 2022 in New York City

2022 Event Agenda

Event Details
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Pulse on the Market

VIX Index and Move Index

Source: Bloomberg. Monthly data as of April 2022

Newsletters and updates

Throughout the year GVS hedge fund managers and sponsors contribute thought-provoking educational resources tailored to the investor community.

The GVS aims to keep investors updated on the volatility markets throughout the year, and educate on innovations within the space.

We invite you to explore the latest discoveries in the volatility markets by clicking the links below.

2022 GVS Managers and Sponsors

36 South Capital Advisors

36 South Capital Advisors launched in 2001 and specialize in the creation and management of asymmetrical portfolios with an emphasis on crisis protection. We invest in generally long-dated bullish and bearish, pan-asset class options which have the potential to generate exponential returns in a crisis. All of our funds are long volatility and invest in a combination of convex and positively accruing options. The funds aim to be non-correlated to traditional assets in a crisis and seek to provide portfolio diversification, risk mitigation and liquidity in order to ultimately reduce risk and increase investors’ long term portfolio returns.

BofA Securities, Inc

Regarded as one of the world’s leading financial institutions, Bank of America serves individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services.

Our decade-long focus on Responsible Growth allows us to be a source of stability for our customers and clients during challenging times, to continue supporting the communities in which we work and live, and deliver more consistent results for our shareholders throughout a well-understood risk framework. Our focus on ESG leadership has provided us with unique opportunities to deepen client relationships and create shared success with communities in which we operate.

Barclays

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 83,500 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

Blue Owl

Through experience, scale, and innovation, Blue Owl is a market leader in direct lending and capital solutions for the alternatives industry. With more than $52 billion in assets under management, we aim to provide institutional and private wealth clients access to compelling and differentiated investment opportunities. Defined by our partnership approach, Blue Owl’s range of capital and liquidity solutions seek to meet the needs of companies today to support their growth for the future.

Built on the success of two leading alternative asset managers, our distinct investment capabilities are redefining private markets:

  • Dyal Capital was founded in 2010 and is a leading capital provider to institutional private equity and hedge fund managers through minority investments and long-term financing
  • Owl Rock was founded in 2016 and is a leader in providing tailored private credit and financing offerings for middle- and upper-middle-market businesses
Blue Owl has over 250 employees across New York, Greenwich CT, London and Silicon Valley.

BNP Paribas

In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 16,000 employees* and a presence in 14 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships. Worldwide, BNP Paribas has a presence in 73 markets with more than 196,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region. * excluding partnerships

Brigade Capital Management

Brigade Capital Management, LP (“Brigade“) is a global asset management firm founded in 2006 currently managing $29.3 billion in assets. Brigade invests in public and private credit instruments using a bottom-up investment philosophy across a variety of diversified funds. As an SEC registered investment advisor, Brigade is one of the largest independent alternative asset managers with a 47-person investment team. Founded by Donald E. Morgan III, CIO and Managing Partner, the firm is headquartered in New York with an offices in London and Colorado. The firm is committed to industry best practices and has earned a reputation for its commitment to transparency and integrity as a long-term partner with investors.

CAPSTONE INVESTMENT ADVISORS

Capstone is a global, alternative investment management firm operating across a broad range of derivatives-based strategies with a deep understanding of volatility. With approximately $8.8 billion of AUM and 190 employees as of May 1, 2021, Capstone was established in 2004 and is headquartered in New York with offices in London, Amsterdam, Stamford, and Los Angeles. Through strategic insight, market-leading expertise and advanced technology, we seek to anticipate and harness the complexities of world markets, creating unique opportunities for our clients, team and industry.

Capula

Capula is a global fixed income specialist firm located in London with affiliated entities in Greenwich (CT), Jersey (Channel Islands), Hong Kong and Tokyo. Co-founded in 2005 by Yan Huo, managing partner and CIO, the firm manages absolute return, enhanced fixed income and tail risk strategies. The core investment team consists of ten trading partners with over 190 years of collective experience. Several of the senior trading team were members of the J.P. Morgan proprietary trading group and have focused on interest rate markets for the majority of their careers. Over many years, individual members of the team have refined discretionary trading and risk management techniques in the focus markets and over the last 20 years have managed through all major market crises, including 1998 and 2008.

Cboe Global Markets

Cboe Global Markets (Cboe: CBOE) provides cutting-edge trading and investment solutions to market participants around the world.

The company is committed to defining markets through product innovation, leading edge technology and seamless trading solutions.

The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S., Canadian and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the

Cboe Volatility Index (VIX Index), recognized as the world’s premier gauge of U.S. equity market volatility. Cboe’s subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe, and owns EuroCCP, a leading pan-European equities clearing house. Cboe also is a leading market globally for ETP listings and trading.

The company is headquartered in Chicago with a network of domestic and global offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas City and Amsterdam.

CME Group

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

Credit Suisse

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies. As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,100 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares, in New York.

Domincé & Co

Dominicé & Co – Asset Management is a Swiss regulated investment management company, offering specialized investment products and services with the aim of preserving capital and delivering positive performance in various market environments. The company is active in global equity and equity derivatives markets, Swiss real estate and private wealth management. Launched in 2004, the company’s flagship relative value volatility strategy aims to deliver positive returns in rising and falling markets, whilst maintaining low correlation to equities and other asset classes. The strategy employs a blend of systematic and discretionary investment processes based on Myopia, the behavioral bias of equity investors.

Eurex

Eurex stands for the leading European derivatives exchange and – with Eurex Clearing – one of the leading central counterparties globally. We are the architect of market liquidity, efficiency and integrity, providing our customers with innovative solutions to seamlessly manage risk.

Our vision is to be the globally trusted home of trading, clearing and risk management services. Driving the industry with an extensive offer of innovative products.

Our mission is to create better markets. Eurex is part of Deutsche Börse Group.

Garda Capital Partners

Garda Capital Partners is a global investment management firm with a long track record of deploying relative value strategies across fixed income markets for institutional investors. Garda’s collaborative and rigorous approach to investing and commitment to transparency has earned us the trust of investors and counterparties over many market cycles. Jeff Drobny (CEO) launched the firm’s flagship Fixed Income Relative Value (FIRV) Strategy in 2003 within Black River, Cargill’s alternative investment subsidiary. The team spun out of Black River in early 2016 and is now fully independent, led by its co-founders: Jeff Drobny, Tim Magnusson (CIO, FIRV), and Robert Goedken (COO/GC) as well as other members of the firm’s Leadership Team. Garda is headquartered in Minneapolis with other primary offices in New York, Geneva, Copenhagen, and Singapore.

Gladius Capital Management

Founded in 2009 and headquartered in Chicago, Gladius Capital Management LP is a leading provider of derivatives solutions and alternative funds for institutional clients. Our mission is to deliver the highest level of expertise and acumen to help our clients manage complex financial risks through the use of derivative instruments. As of December 31, 2020, Gladius has $2.5 billion in assets under management and is a certified minority-owned investment manager.

Goldman Sachs

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Graham Capital Management

Founded by Kenneth G. Tropin in 1994, Graham Capital Management, L.P. (“GCM”) is an alternative investment manager with more than $16 billion in AUM as of March 1, 2022 and a diverse roster of global institutional and private client investors. The firm emphasizes directional trading across liquid global markets, and GCM’s strategies tend to have low correlation to traditional and other alternative investments. GCM has three main pillars of its business, comprised of systematic trend-following, quantitative macro, and discretionary macro trading strategies. GCM differentiates itself with an established, long-term track record, a rigorous and comprehensive risk management process, a substantial investment in operational infrastructure, and significant proprietary capital to attract and retain talented investment professionals and develop new investment strategies.

III Capital Management

III Capital Management (“III” pronounced “triple eye”), together with its affiliates, has been managing investor capital since 1982. Our mission is to work with sophisticated institutional investors and leverage our infrastructure to provide independent, asymmetric, customized investment solutions globally. We regard our clients as trusted partners and hold ourselves to high ethical standards. III manages approximately $4.8 billion across four primary strategies: fixed income relative value ($1.1B), convexity/tail ($1.4B), long only credit ($1.8B), and long/short credit ($508M). Our investor base is over 90% pensions and endowments with over 90% of assets in managed accounts or funds of one to provide customization and flexibility to clients. The firm is headquartered in Boca Raton, FL with approximately 100 employees; its principals have an average tenure of over 19 years with III.

Ionic Capital Management

Ionic Capital Management® LLC (“Ionic”) is a $3.9 billion New York based alternative asset manager founded in 2006 by Bart Baum and Daniel Stone. Ionic manages multiple private investment vehicles employing different investment strategies including relative value arbitrage, long volatility, and value equity. In addition, Ionic acts as sub-advisor to multiple registered investment funds for which it employs relative value arbitrage and value equity investment strategies. Within the long volatility investment strategies, Ionic focuses on generating negatively correlated returns, with the potential to deliver outsized returns in volatile markets. Ionic utilizes both explicit and imbedded options across asset classes, including equities, interest rates, currencies, commodities and credit in order to construct a portfolio that is typically positive convexity and long volatility.

J.P. Morgan

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.7 trillion in assets and $280.7 billion in stockholders’ equity as of March 31, 2021. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S. and globally many of the world’s most prominent corporate, institutional and government clients.

Man Group

Our investment managers offer a broad range of products and services to address clients’ investment needs, covering quantitative (Man AHL and Man Numeric), discretionary (Man GLG and Man FRM) and private markets (Man GPM). Active across equity, credit, commodities and currency markets, our investment managers offer long-only, alternative and private market strategies. Leveraging the diverse expertise from across the firm, Man Solutions provides innovative and tailored ‘cross-engine portfolio solutions’ for our clients. In addition, our developing real assets business further broadens our offering, providing access to private markets for clients looking for longer term capital investment.

Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals.

Nasdaq

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com

Neuberger Berman

Founded in 1939, Neuberger Berman is a private, 100% independent, employee-owned investment manager. From offices in 36 cities worldwide, the firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally. With more than 600 investment professionals and over 2,300 employees in total, Neuberger Berman has built a diverse team of individuals united in their commitment to client outcomes and investment excellence. Our culture has afforded us a 95% retention rate among our senior investment professionals and has earned us citations in the top-ranked firms (among those with 1,000 or more employees) in the Pensions & Investments “Best Place to Work in Money Management” survey each year since 2013.

Optiver

Over thirty years ago, Optiver started business as a single trader on the floor of Amsterdam’s European Options Exchange. Today, we are a leading global electronic market maker, focused on pricing, execution and risk management. We provide liquidity to financial markets using our own capital, at our own risk, trading a wide range of products: listed derivatives, cash equities, ETFs, bonds and foreign currencies. Our independence allows us to objectively improve the markets and provide efficiencies for end investors. With over one thousand Optiverians globally, our mission to improve the market unites us. Thriving in a high performance environment, we pioneer our own trading strategies and systems using clean code and sophisticated technology. We achieve this by attracting, developing and empowering top talent, in order to sustain our future.

One River Asset Management

Launched in 2013, ORAM operates alternative strategies to deliver Risk Mitigation and Alpha to its global institutional client base, in funds and custom solutions. Managing +$2.1B of AUM across Volatility, Trend, Inflation and Digital (as of 2/1/22). A private partnership that is majority employee owned, with a diverse culture that emphasizes collaboration, transparency, and adaptivity. A unique combination of macro, fundamental and systematic capabilities to build alpha and risk mitigation solutions for client portfolios. Registered as an investment advisor with SEC, CPO with NFA/CFTC and QPAM. Launched digital asset manager subsidiary (ORDAM) in 2020.

Parallax Volatility Advisers

Parallax Volatility Advisers, L.P. is the San Francisco based investment adviser to Parallax Master Fund, LP. Parallax employs a global volatility relative value strategy that incorporates multiple trading strategies being utilized opportunistically. The process identifies trading opportunities by options flow analysis that is supported by qualitative and quantitative evaluation and targets the most attractive risk-adjusted portfolio of volatility exposures in both listed and over-the-counter options on global equities, indexes, ETFs, and commodities. Parallax was founded in 1996 and has been negatively correlated to major market indexes.

Penso Advisors

Penso Advisors LLC, established in 2010, is a $1.5 Bn AUM New York based manager and advisory boutique specializing in discretionary macro and risk mitigating strategies. Our niche specialty is derivatives structuring/trading and systemic risk management. We manage discretionary global macro strategies as well as bespoke high convexity hedging portfolios for sophisticated institutional money managers and allocators. Our clients include some of the largest hedge funds, corporate and public pension plans, endowments/foundations, fund of hedge fund groups and family offices. The Penso team, led by Ari Bergmann, has been in the forefront of derivatives innovation and trading and helping investors and corporations deal with difficult to manage risks for over 25 years. Our business model is predicated upon delivering our expertise on a bespoke basis for sophisticated institutional clients. We offer solutions within discretionary global macro and risk mitigation, primarily across two different strategies: Negative Correlated Alpha (NCA) – An alpha based, high convexity risk mitigation strategy implemented on a bespoke basis for institutional investors. Global Macro Opportunities (GMO) – A high convexity, capital efficient, discretionary global macro strategy.

Quantitative Brokers

Quantitative Brokers (QB) is a global financial technology company, provider of advanced algorithms and data-driven pre- and post-trade analytics to clients in the futures, options, and interest rate markets. The company is built on a research-driven culture, market microstructure know-how, and algorithmic engineering expertise. QB continually develops and innovates an evolving suite of products to reduce and measure implicit trading costs for its clients. Headquartered in midtown Manhattan, QB has branch offices in London, Sydney, and Chennai.

SECOR Asset Management

SECOR Asset Management, LP was launched in 2010 with offices in New York and London. Our firm offers clients innovative equity hedging, fixed income, and currency derivative overlay strategies – designed to help our pension, endowment, and insurance clients navigate increasingly complex investment challenges. As of December 31, 2021, SECOR Asset Management managed over $29 billion in derivative overlay solutions. Our plan sponsor heritage drives the evolution of our services - meeting the evolving needs of institutional plan sponsors.

SpiderRock

SpiderRock is a technology provider that creates and deploys some of the most innovative algorithmic execution and risk management solutions commercially available to service large hedge funds, bank trading desks, proprietary trading firms and other institutional clients around the world. The platform is a high-performance, cloud-based trading system empowering institutional clients with tools to source liquidity intelligently and at scale in the equity, futures and option markets. SpiderRock is also a market data vendor specializing in low latency data service and normalized multicast data and analytics feeds including a live Greek, Risk Factor and Implied Volatility feed and corresponding historical snapshots. In addition, SpiderRock offers electronic execution and market access services to multiple market places via SpiderRock EXS, an agency broker dealer and FINRA member.

MIAX

MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), the Minneapolis Grain Exchange, LLC (MGEX), and the Bermuda Stock Exchange (BSX). MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that leverage MIAX’s industry-leading technology and infrastructure to provide U.S. listed options trading to their member firms. MIAX serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). In addition to options, MIAX Pearl facilitates the trading of cash equities through MIAX Pearl Equities™.

MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and is a Notice Registered Securities Futures Product Exchange with the SEC. MGEX serves as the exclusive market for a variety of products, including Hard Red Spring Wheat and SPIKES Futures. In addition, MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and cash market services in an array of asset classes.

The BSX is a leading electronic international securities market regulated by the Bermuda Monetary Authority (BMA) specializing in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities. A full member of the World Federation of Exchanges and affiliate member of the International Organization of Securities Commissions, the BSX is globally recognized, including by the SEC.

MIAX’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL, Minneapolis, MN, and Hamilton, Bermuda.

Société Générale

Société Générale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth, aiming to be the trusted partner for its clients, committed to the positive transformations of society and the economy. Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Société Générale has over 147,000 members of staff in 67 countries and supports on a daily basis 31 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses: • French Retail Banking, which encompasses the Société Générale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation; • International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets; • Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions. Société Générale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index. For more information, you can follow us on twitter @societegenerale

SYSTEMATICA INVESTMENTS

Systematica Investments launched in January 2015 after a decade of experience within BlueCrest Capital Management and track record dating back to 2004. Systematica is an innovative technology-driven firm focused on a quantitative and systematic approach to investing across futures, equities and OTC markets. The firm was founded by Leda Braga and has an investment philosophy based upon a disciplined research process, technological innovation and operational excellence. Systematica Investments currently manages approximately $8bn in assets and has a global presence with 5 offices across Jersey, Geneva, London, New York and Singapore.

TRUE PARTNER CAPITAL

True Partner Capital is a global asset management firm founded in 2010 and with offices in Asia, the US and Europe. We have over $1.7 billion in assets under management and serve a diverse range of clients globally. The Firm has a focus on volatility trading in liquid markets, particularly equities. The key principals of the Firm were previously options market makers, and the Firm combines trading and technology expertise built up over many years of software development and active trading in derivative markets. We seek to develop long-term partnerships with our clients and to provide them with superior risk-adjusted investment returns and client service through fund products and separate mandates.

Volos

Volos provides financial indexes and technology for institutional investors. We specialize in indexes for options and derivatives strategies, providing transparency to this traditionally opaque asset class.