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2021 Event Agenda

Virtual Global Volatility Summit

September 21 - 23, 2021

The 12th Annual Global Volatility Summit took place virtually from September 21 to September 23, 2021. With roughly 480 attendees, the event successfully gathered 16 hedge fund managers, institutional investors, and industry leaders together on an online forum to discuss navigating the current markets through the lens of derivatives-based and systematic strategies. Professor Liam Smeeth and Professor Alan Dangour from the London School of Hygiene and Tropical Medicine joined to discuss what is next for COVID, Global Health, and Climate Change. We thank the partners, sponsors, and attendees of GVS for your continued support and flexibility during this unprecedented time. We hope to see you at the next Global Volatility Summit in person in September 2022!

If you have any questions, please reach out to 
info@globalvolatilitysummit.com

2021 Event Speakers

WILL BARTLETT

Chief Executive Officer

RISHABH BHANDARI

Senior Portfolio Manager

ARI BERGMANN

Founder and Managing Principal/CIO

ERIN BRIGGS

Vice President, Equity Derivatives Sales

PAUL BRITTON

Founder and Chief Executive Officer

JOHNATHAN CRIST

Investment Analyst

Professor Alan Dangour

Director of the Centre on Climate Change and Planetary Health

DEREK DEVENS

Managing Director and Senior Portfolio Manager

Anca Dimitriu

Partner, Strategy Analyst – Quant, Albourne Partners

CHLOE DUANSHI

Head of Quantitative Research & Portfolio Construction

JERRY HAWORTH

Co-Founder

TOBIAS HEKSTER

Co-Chief Investment Officer

GRANT JAFFARIAN

Portfolio Manager

CHRISTIAN KOBER

Derivatives Strategist

DEEP KUMAR

Co-CIO and Portfolio Manager

Carl Lantz

Senior Portfolio Manager

Edouard Laurent-Bellue

Deputy Chief Investment Officer

MEISAN LIM

Director of Hedge Funds

ALEXIS MAUBOURGUET

Lead Portfolio Manager

TIM MCCOURT

Managing Director, Global Head of Equity Products & Alternative Investments

OLEG MOGILNY

Managing Director

DULARI PANCHOLI

Co-Head of Impact Investing Committee

ERIC RENDER

Managing Director

Randolf Roth

Executive Board Member, EUREX

PIERRE DE SAAB

Partner and Head of Asset Management

PAVANDEEP SETHI

Founder and Chief Investment Officer

Professor Liam Smeeth

Director of the London School of Hygiene and Tropical Medicine

Jonathan Sorrell

President, Capstone Investment Advisors

DANIEL STONE

Principal and Portfolio Manager

Sandrine Ungari

Head of Cross Asset Quantitative Research

PETER VAN DOOIJEWEERT

Head of Institutional Hedging

PASCALE VENNE

Investment Officer

DAVID WARN

Chief Risk Officer

2021 GVS EVENT SPEAKERS

WILL BARTLETT

Chief Executive Officer

RISHABH BHANDARI

Senior Portfolio Manager

ARI BERGMANN

Founder and Managing Principal/CIO

Erin Briggs

Vice President, Equity Derivatives Sales

PAUL BRITTON

Founder and Chief Executive Officer

Johnathan Crist

Investment Analyst

Professor Alan Dangour

Director of the Centre on Climate Change and Planetary Health

DEREK DEVENS

Managing Director and Senior Portfolio Manager

Anca Dimitriu

Anca Dimitriu, Partner, Strategy Analyst – Quant, Albourne Partners

Chloe Duanshi

Head of Quantitative Research & Portfolio Construction

JERRY HAWORTH

Co-Founder

TOBIAS HEKSTER

Co-Chief Investment Officer

Grant Jaffarian

Portfolio Manager

CHRISTIAN KOBER

Derivatives Strategist

DEEP KUMAR

Co-CIO and Portfolio Manager

Carl Lantz

Senior Portfolio Manager

Edouard Laurent-Bellue

Deputy Chief Investment Officer

Meisan Lim

Director of Hedge Funds

ALEXIS MAUBOURGUET

Lead Portfolio Manager

TIM MCCOURT

Managing Director, Global Head of Equity Products & Alternative Investments

Oleg Mogilny

Managing Director

Dulari Pancholi

Co-Head of Impact Investing Committee

ERIC RENDER

Managing Director

Randolf Roth

Executive Board Member, EUREX

PIERRE DE SAAB

Partner and Head of Asset Management

PAVANDEEP SETHI

Founder and Chief Investment Officer

Professor Liam Smeeth

Director of the London School of Hygiene and Tropical Medicine

Jonathan Sorrell

President, Capstone Investment Advisors

DANIEL STONE

Principal and Portfolio Manager

Sandrine Ungari

Head of Cross Asset Quantitative Research

PETER VAN DOOIJEWEERT

Head of Institutional Hedging

Pascale Venne

Investment Officer

David Warn

Chief Risk Officer

2021 GVS Managers and Sponsors

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Will B

WILL BARTLETT

Chief Executive Officer

PARALLAX VOLATILITY ADVISERS

Will Bartlett is the Chief Executive Officer of Parallax Volatility Advisers. Will has been involved with equity options since 1995 and has been with Parallax since 1996. In his more than 20 years at Parallax, Will has played an active role transforming the firm from a small, floor-based equity options trading operation into a large participant in the global volatility market. Parallax manages a complex portfolio of listed and over the counter volatility positions on global equities, indexes, ETFs, and commodity futures. Prior to joining the Parallax, Will worked on the floor of the Pacific Coast Exchange while earning his Bachelor’s degree in Economics at the University of California, Berkeley. Will proudly serves on the Board of Governors of the Boys and Girls Clubs of San Francisco, the Board of Trustees of Town School for Boys, and is a member of The Guardsmen, an organization helping
at-risk youth by providing scholarships, support, and outdoor education programs to students in the San Francisco Bay Area.

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RISHABH BHANDARI

Senior Portfolio Manager

CAPSTONE INVESTMENT ADVISORS

Rishabh “Rish” Bhandari is a Senior Portfolio Manager on the Solutions platform. Rish finds his role challenging, dynamic and stimulating every day and enjoys the opportunity to collaborate internally and work with investors daily in a constantly evolving environment. Rish joined Capstone in 2016 with experience in trading, pricing and risk managing the instruments that are the cornerstone to the Solutions platform. Most recently, Rish worked as Managing Director on the Equity Derivatives desk at Nomura after spending eight years as Head of the Equity Structured Products Trading Desk at Credit Suisse. Rish began his career in similar roles at both Lehman Brothers and Barclays Capital.

Rish received a B.Eng. degree in Electronics from Mumbai University and an M.Sc. in Financial Engineering from Columbia University.

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ARI BERGMANN

ARI BERGMANN

Founder and Managing Principal/CIO

PENSO ADVISORS, LLC

Ari Bergmann is Penso’s Founder and Managing Principal/CIO. He leads the firm’s investment committee and manages various Penso funds and clients’ mandates.

Dr. Bergmann founded Penso Advisors, LLC in early 2010 to offer systemic risk management and implement hedging strategies for asset managers and institutional investors through managed accounts. Since its founding, Penso has expanded its services to include management of discretionary global macro and risk mitigation strategies through private funds and bespoke funds of one.

Between 1997 and 2010, Dr. Bergmann was CEO of Sentinel Advisors, LLC, manager of the Citadel Master Fund (derivatives arbitrage); Sentinel Symphony, LLC, manager of the Symphony FOHF (multi-manager fund of hedge funds) and Penso Capital Markets, LLC, manager of risk overlays.

Prior to his role in overseeing these firms, Dr. Bergmann was employed at Bankers Trust from 1989 to 1997. In 1989, he joined Bankers Trust’s U.S. Interest Rate Derivatives trading desk and managed this unit during 1992 and 1993. During this period, he was active in the development of structured notes, index-amortizing swaps, time swaps, binary options and other derivative products. From late 1993 until his departure in 1997, he headed the Risk Merchant Bank and the Transaction Development Group at the bank. He founded the latter to integrate Bankers Trust’s finance and derivative capabilities to offer enhanced corporate finance products to corporate clients. In this capacity, he led a team that created a derivatives structure that was widely used in the privatization of many large European companies. He also developed derivatives and trading strategies used by several corporations in the implementation of strategic acquisitions. During his tenure at Bankers Trust, Dr. Bergmann was a Senior Managing Director and a pioneer in the field who helped create and implement the initial swaps on hedge funds.

From 1987 through 1989, Dr. Bergmann was an Assistant Vice President at Drexel Burnham Lambert Trading Corp., working in precious metals and commodity trading. From 1986 through 1987, Dr. Bergmann was a staff accountant at Price Waterhouse in New York.

Dr. Bergmann holds a Master’s in Liberal Studies and a Ph.D. in Comparative Religion, both from Columbia University.

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Erin

ERIN BRIGGS

Vice President, Equity Derivatives Sales

GOLDMAN SACHS

Erin is a Vice President in New York working in the Equity Derivatives Sales group covering hedge fund clients. In her role, Erin facilitates flow and structured derivatives transactions for long/short, multi-strategy and volatility funds. Erin is also involved in several mentorship and recruiting initiatives at the firm. She joined Goldman Sachs in 2018.

Prior to joining the firm, Erin worked at Citi from 2007-2018. During the majority of her time there, she covered hedge funds and asset managers within Equity Derivatives. Before that, she worked in the Institutional Equity Sales group and also spent five years working within Citi’s Fixed Income Capital Markets division, primarily working as a member of the Investment Grade Syndicate Desk. Erin earned a BS in Economics and Finance from Niagara University in 2007.

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PAUL BRITTON

PAUL BRITTON

Founder and Chief Executive Officer

CAPSTONE INVESTMENT ADVISORS

Paul Britton is Capstone’s Founder and Chief Executive Officer. Paul focuses on setting the firm’s strategy, developing our culture, attracting key talent and overseeing the execution of investment and business functions. Paul began his career with Saratoga Limited, trading options on the London International Financial Futures and Options Exchange (LIFFE), and co-founded Mako Global Derivatives in 1999. In 2001, Paul moved to New York to establish and manage Mako’s U.S. operations, the buyout of which he led to form Capstone in 2004. Paul is immensely proud of the progress made by the team at Capstone over the years, and by the strong relationships we have been fortunate to build with our investors.

Paul currently serves on the Boards of the US Soccer Foundation, The Tate America’s Foundation and Friends Seminary School in New York City.

Paul received a B.A. degree in European Business Finance from London Metropolitan University.

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Johnathan Crist

Investment Analyst

Georgia Tech Foundation

Johnathan Crist, CFA FRM is a Sr. Investment Analyst at the Georgia Tech Foundation, Inc. where he is a part of the team managing $2.4B in assets. His responsibilities include managing the portfolio allocation, risk, and derivative program. Previously he worked at the UPS Group Trust in the Strategy, Asset Allocation & Risk group. Johnathan graduated from Georgia Tech with a Bachelor’s Degree in Industrial Engineering and is currently pursuing his MBA with a concentration in Quantitative Finance at the Scheller College of Business.

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Professor Alan Dangour

Director

Centre on Climate Change and Planetary Health

Alan joined LSHTM in 2001 and is a Professor in Food and Nutrition for Global Health. Alan is a Registered Nutritionist (Public Health) with a background in biochemistry and biological anthropology. Between 2012 and 2017, he was seconded part-time to the Research and Evidence Division of the UK Department for International Development (DfID) as a Senior Research Fellow in nutrition. In December 2018, Alan was appointed as the Specialist Advisor to the Environmental Audit Committee (UK Parliament) inquiry on Planetary Health.

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Derek Devens

DEREK DEVENS

Managing Director and Senior Portfolio Manager

NEUBERGER BERMAN

Derek Devens, CFA, joined the firm in 2016. Derek is a Managing Director and Senior Portfolio Manager of the Option Group. Prior to Neuberger Berman, Derek was responsible for both Research and Portfolio Management at Horizon Kinetics. Derek was a member of the Investment Committee and responsible for co-managing the Kinetics Alternative Income Fund and various separate account strategies. Prior to Horizon Kinetics, Derek was a Vice President with Goldman Sachs’ Global Manager Strategies Group where he was responsible for conducting investment manager research. Previously, Derek worked in fixed income portfolio management at both Fischer Francis Trees & Watts as well as Bond Logistix. He received a BS in Civil Engineering from Princeton University and an MBA from New York University. He has been awarded the Chartered Financial Analyst designation.

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Anca_Dimitriu

Anca Dimitriu

Partner and Head of the Quant Hedge Fund & Dynamic Beta IDD analyst team

Albourne Partners

Partner and Head of the Quant Hedge Fund & Dynamic Beta IDD analyst team at Albourne Partners since May 2019. Previously, COO of quant strategies at Balyasny Asset Management, focused on building the quant business front to back – from candidate hiring & onboarding all the way through to building the support infrastructure. The 7 years before were spent at WorldQuant/Millennium, initially as a quant portfolio manager, then responsible for business development. Prior to Millennium, at Goldman Sachs for 5 years, in the prop equity quant trading team, as a researcher and quant trader. BSc and MSc in Finance from the Academy of Economic Studies in Bucharest, and PhD in Financial Econometrics from ICMA Centre, Henley Business

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Chloe Duanshi

Head of Quantitative Research & Portfolio Construction

CFA®, Rockefeller Capital Management

Chloe Duanshi is a Managing Director and the Head of Quantitative Research & Portfolio Construction for Rockefeller Capital Management. She is a member of the firm’s Management Committee.

As the Head of Quantitative Research & Portfolio Construction, Chloe is responsible for developing broad capital market outlook across asset classes as well as designing strategic and tactical asset allocation guidance for the Rockefeller Global Family Office. Chloe is also focused on working with clients to construct bespoke, institutional-caliber portfolios with traditional and alternative investment solutions, utilizing proprietary portfolio construction techniques that seek to identify and capture a diversified collection of unique, fundamental return drivers.

Before joining Rockefeller, Chloe was a cross-asset strategist at Morgan Stanley, where she specialized in asset allocation and portfolio construction for ultra-high net worth individuals, single family offices, endowments, and foundations. Prior to that, Chloe spent a number of years at BNP Paribas in equities and commodities derivatives.

Chloe received her B.S. degree, magna cum laude, from the Sibley School of Mechanical & Aerospace Engineering at Cornell University and M.A. degree in Mathematics from Columbia University. Chloe is a CFA® charterholder.

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Jerry Haworth

JERRY HAWORTH

Co-Founder

36 SOUTH CAPITAL ADVISORS

Jerry has 34 years of experience in the financial markets.

Jerry was instrumental in the establishment of the futures and options market in South Africa. He also traded government bonds for a large discount house before being appointed Head of Equity Derivatives for one of South Africa’s largest and most successful merchant banks,
Investec Ltd.

In 1996, Jerry founded Peregrine Holdings Ltd. The company offered a range of services but its main niche was designing derivative strategies for institutional clients. Peregrine enjoyed early success under his management culminating in a stock exchange listing in 1998.

In March 2001, Jerry co-founded 36 South Investment Managers Limited. The firm moved to London, UK, in 2009, and operates as 36 South Capital Advisors LLP.

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Tobias Hekster

TOBIAS HEKSTER

Co-Chief Investment Officer

TRUE PARTNER CAPITAL

Mr. Tobias Hekster, Co-Chief Investment Officer of True Partner Capital USA in Chicago, has been actively trading for the past 22 years in various different roles in several markets across the globe. Starting at IMC in 1998 as a pit trader in Amsterdam, Tobias has established the off-floor arbitrage desk, headed the Chicago office in the transition from floor trading to electronic trading and set up the Asian volatility arbitrage desk in Hong Kong. Tobias holds an MSc in Economics and has taught as an Adjunct Associate Professor at the Chinese University of Hong Kong and as an Adjunct Professor of Financial Practice at National Taiwan University.

Grant-Jaffarian

GRANT JAFFARIAN

Portfolio Manager

Crabel Capital Management

Grant Jaffarian is the Portfolio Manager of Crabel Advanced Trend and a member of the firm’s Executive Committee. Grant joined CCM in 2014 as part of its acquisition of AlphaTerra where he was the Founder and Chief Investment Officer. Prior to launching AlphaTerra in April 2013, Grant served as the Chief Investment Officer at Efficient Capital Management. He began his career at Belgium-based Analytic Investment Management, a high turnover futures manager acquired by Robeco Bank. From there, he went on to found Petra Intraday, a short-term systematic investment manager, before joining Efficient. Grant earned a bachelor’s degree from Wheaton College where he majored in English and holds an MBA with a concentration in economics from the University of Chicago.

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Christian Kober

CHRISTIAN KOBER

Derivatives Strategist

CAPULA INVESTMENT MANAGEMENT

Christian Kober is a Derivatives Strategist at Capula Investment Management LLP having joined the firm in July 2019. In this role, Christian works closely with the firm’s investment, strategy and investor relations teams. Christian was previously the Head of European Equity Derivative Strategy in Barclays’ Pan European Equity Research in London from 2010 to 2019 where he was ranked #1 in the 2016 and 2017 Extel survey. Earlier in his career, Christian worked at Morgan Stanley as Lead Analyst for European Equity Derivative Strategy and in Quantitative Equity Prop Trading. Christian began his career at SG Securities in 2001 where he was an equity research analyst, covering the transportation sector.

BBA, University of Saarbrücken, 1998

MBA, Leipzig Graduate School of Management, 2001

Chartered Financial Analyst (CFA)

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Deep Kumar

DEEP KUMAR

Co-CIO and Portfolio Manager

III CAPITAL MANAGEMENT

Dr. Deep Kumar is a Principal and a Portfolio Manager for III Capital Management’s asymmetric portfolio business. He leads the firm’s option trading efforts and is a member of the Management Committee. Dr. Kumar joined the firm in March 2003 and has been with the firm since that time, except for a ten-month period during 2010. Previously, Dr. Kumar was at BNP Paribas in New York, where he was the Chief Risk Officer for the USD rates group and oversaw the day-to-day risk taking by the group. Dr. Kumar has also done a great deal of work on volatility smiles and skews, much of which is used by a number of Wall Street firms for pricing and managing risks associated with options. He is the co-author of “Managing Smile Risk,” published in Wilmott Magazine in July 2002. Dr. Kumar holds a PhD (1994) in hypersonics from Cranfield University, UK, as well as an MSc (1991) in aerodynamics and an MA (1990) in engineering both from Cambridge University, UK.

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Carl Lantz

Senior Portfolio Manager

Pennsylvania Public School Employees' Retirement System (PSERS)

Carl Lantz is a Senior Portfolio Manager at the Public School Employees’ Retirement System (PSERS) which oversees the management of over $65B in assets on behalf of the Commonwealth’s current and retired public school employees. Carl is responsible for $12B in assets invested with external managers across public market asset classes including equities, fixed income, real assets and tail risk mitigation.

Prior to joining PSERS, Carl was a Managing Director at Credit Suisse Securities LLC where he spent more than a decade in various roles including US Head of Global Macro Products Strategy and Co-Head of Global Interest Rate Strategy. In addition to formulating and communicated top-down market views, Carl specialized in structuring interest rate and cross-market derivatives trades.

Carl began his career as an economic researcher at the Federal Reserve Bank of Richmond where he focused on macroeconomics, monetary policy and capital markets.

Carl received a BA in Economics from Dickinson college and an MBA in Finance from Columbia University. Carl is a CFA Charterholder.

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Edouard Laurent-Bellue

Deputy Chief Investment Officer

LFIS

Edouard joined LFIS in 2013 as Partner and Head of Fund Solutions and was promoted to Deputy CIO in 2021. Edouard began his career as an equity derivatives structurer at Société Générale in 2005. In 2010 he joined Deutsche Bank as a structurer within their equity derivatives department, where he developed investment and hedging solutions for institutional clients and hedge funds and managed the team in Hong-Kong. From July 2011 to September 2012, Edouard was with Morgan Stanley Hong Kong in equity derivatives trading.  

Edouard graduated from Ecole Polytechnique. He also holds a Master’s degree in Probability and Finance from Paris VI University.

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Meisan_Lim

Meisan Lim

Director of Hedge Funds

Cambridge Associates

Meisan is a senior investment director researching and advising on Hedge Funds in Cambridge Associates’ Boston office. She heads up the firm’s research efforts on uncorrelated strategies in the Americas. In addition, Meisan is a Director of Hedge Funds in CA Capital Management, Cambridge Associates’ outsourced investment office business. Previously she was part of part of the firm’s pension practice, where she advised a variety of institutional  investors on Hedge Fund investment issues such as asset allocation strategy, manager selection, risk management and investment program evaluation. Meisan has 19 years of investment experience and has previously worked at Omega Capital, Apollo Management, Guggenheim Partners, Evergreen Investments (now Wells Fargo) and Tsai Capital.

Meisan is a CFA charterholder, and has an undergraduate degree and a graduate degree from Middlebury College and Columbia University, respectively.

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Alex

ALEXIS MAUBOURGUET

Lead Portfolio Manager

Lombard Odier Asset Management

Alexis Maubourguet is the Lead Portfolio Manager for the 1798 ADAPT Fund. He joined LOIM in Geneva in November 2019. Alexis was formerly a Volatility Portfolio Manager at Argentière Capital in Zug for over three years, where he launched and managed their Relative Value Opportunities fund. Prior to Argentière, Alexis was a Portfolio Manager on the Global Emerging Markets and Macro Fund at BTG Pactual in London. Alexis also spent almost a decade trading derivatives on the sell side for JPMorgan and Deutsche Bank in New York and London.

Alexis earned Bachelor’s and Master’s degrees in Economics and Applied Mathematics from the Ecole Polytechnique in Paris, as well as a Master’s degree in Mathematics in Finance from NYU’s Courant Institute of Mathematical Science. He is a CFA Charterholder.

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Tim McCourt

TIM MCCOURT

Managing Director and Global Head of Equity Products and Alternative Investments

CME GROUP

Tim McCourt serves as CME Group’s Managing Director and Global Head of Equity Products and Alternative Investments.  He is responsible for leading the company’s global Equity Index product line.  He also serves on the S&P Dow Jones Indices U.S. Advisory Panel.

Before joining CME Group in 2013, McCourt worked for the Royal Bank of Scotland, where he was responsible for building and managing the Americas Index and Delta One trading book.  Prior to RBS, he held a senior trading role with JPMorgan in New York, spending 10 years with the Equity Derivatives Group.

McCourt holds a bachelor’s degree in political science from Boston College and a MBA from The University of Pennsylvania’s Wharton School.

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Oleg_Mogilny

Oleg Mogilny

Managing Director

Investment Management Corporation of Ontario (IMCO)

Oleg Mogilny is Managing Director, Public Market Alternatives and Factor Investing. He heads IMCO’s investments in public market alternatives with an objective to deliver absolute returns with low beta to equity markets.

Oleg has 20 years of experience in research, trading and portfolio management across major global public markets.

Prior to joining IMCO in 2019, Oleg led the Quantitative Strategies and Research group at Ontario Teachers’ Pension Plan (OTPP). In this role he managed systematic absolute return strategies and investment-focused data science initiatives. During his 16-year career at OTPP, Oleg had progressive roles in Capital Markets, Tactical Asset Allocation and Public Equities teams, being responsible for macro strategies, systematic programs, factor investing, equity portfolio construction, thematic and hedging portfolios.

Oleg Mogilny holds an MBA from McGill University and a Master’s degree in Economics from Kyiv School of Economics. He is a CFA charterholder.

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Dulari Pancholi

Co-Head of Impact Investing Committee

NEPC

Dulari’s investment career began in 2000 and she joined NEPC in 2006.  Dulari is involved in NEPC’s hedge fund research and due diligence activities, in addition to providing consulting services for the non-traditional asset classes of NEPC’s various clients.  Dulari is the Co-Head of NEPC’s Impact Investing Committee. Dulari is also frequent speaker at industry conferences on the topic of Impact Investing. Prior to joining NEPC in August of 2006, Dulari was Vice President of Operations of the Hedge Fund at Venus Capital Management. Dulari received her M.B.A. from the University of Massachusetts, Amherst and holds L.L.B. and B.S. degrees from the University of Mumbai.  Dulari has attained both of the Chartered Financial Analyst and Chartered Alternative Investment Analyst designations. She is also a member of the Boston Security Analysts Society.

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ERIC RENDER

Managing Director

Blue Owl

Eric Render is a Managing Director of Blue Owl and a member of the Dyal Business Services Platform. Eric has 18 years of industry experience across media, consulting and asset management. He is primarily responsible for managing relationships with institutional investors based on the West Coast, Alaska and Hawaii. Prior to joining Dyal, Eric was a member of Neuberger Berman’s marketing department, focusing on International Equities, Emerging Markets and REITs. Before joining Neuberger Berman in 2007, Eric worked at the U.K. news agency, Adfero, while studying contemporary U.K. politics at the London School of Economics’ Hansard Research Scholars Programme. He has a BA in English from the Pennsylvania State University.

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Randolf Roth

Executive Board Member

EUREX

Randolf Roth is a member of the Executive Board of Eurex Frankfurt AG / Management Board of Eurex Deutschland, responsible for Equity & Index Derivatives.

Until February 2016, Randolf Roth served as CEO of two related companies: Zimory GmbH and Deutsche Börse Cloud Exchange AG in Berlin. Previously, between 1999 and 2014, he had already been working for Eurex in London, Chicago and Frankfurt in a number of roles including Head of Strategy and Head of Market Structure. From 2011 to 2016, he was a member of the Board of Directors of the European Energy Exchange (EEX).

Randolf Roth holds a PhD in Financial Engineering from Technische Universität Dresden.

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Pierre de Saab

PIERRE DE SAAB

Partner and Head of Asset Management

DOMINICÉ & CO

Pierre de Saab is a Partner and Head of Asset Management at Dominicé & Co – Asset Management. Since joining Dominicé in 2010, Pierre de Saab has significantly contributed to the development of the company’s flagship volatility strategy. Today, he heads the investment team’s research and trading operations, as well as the company’s business development strategy.

Prior to joining Dominicé, Pierre held senior roles at Credit Suisse, as well as UBS in Zurich, London and New York, where he built and led several equity derivatives trading desks. During his career, he gained significant experience in designing risk management and trading systems. He has also developed proprietary trading strategies and innovative derivative products for hedge funds and sophisticated institutional investors.

Pierre earned a Masters in Mathematical Engineering from the Swiss Federal Institute of Technology in Lausanne (EPFL), a Masters in Real Estate from the University of Geneva and an MBA from INSEAD.

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Pav Sethi (Gladius)

Pavandeep Sethi

Founder and Chief Investment Officer

GLADIUS CAPITAL MANAGEMENT

Pav Sethi is the Founder and Chief Investment Officer of Gladius Capital Management, an asset-management firm focusing on derivative strategies and products for institutional clients. Prior to founding Gladius, Mr. Sethi was a Managing Director at Citadel serving as the Global Head of the Volatility Arbitrage Group. He was previously a Portfolio Manager in the Volatility Arbitrage Strategy at J.D. Capital Management and began his career at Morgan Stanley in Europe as an equity derivatives trader.

Mr. Sethi has pioneered a number of novel derivative structures and engaged in multiple landmark transactions. His focus most recently has been on structuring large scale derivatives programs as tools for portfolio allocation and optimization for some of the largest pension and endowment plans in the United States. Previously, Mr. Sethi engaged in some of the earliest risk syndication programs during the early 2002 period and completed some of the first complex volatility based transactions between hedge funds and investment banks.

Pav holds a bachelor’s degree in chemistry from Cornell University and a master’s degree in mathematics from the University of Chicago.  He is a Fellow of the 2017 class of the Aspen Finance Leaders Fellowship and a member of the Aspen Global Leadership Network.

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Professor Liam Smeeth

Director

London School of Hygiene and Tropical Medicine

Liam Smeeth is professor of clinical epidemiology and Director of the London School of Hygiene and Tropical Medicine. He is also a practicing doctor in general practice. During his career he was supported by fellowships from MRC, NIHR and Wellcome. He was previously a Trustee of the British Heart Foundation and a non-executive director of the Medicines and Healthcare products Regulatory Agency. He is a member of the strategic oversight committee for UK Biobank and an elected Fellow of the Academy of Medical Sciences. Much of his research is based on making better use of computerised clinical data for research, and he co-led the creation of the OpenSafely resource in response to the Covid pandemic. His broad interests include disease aetiology, drug effects, genetics and non-communicable diseases in low-income settings.

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Jonathan Sorrell

President

Capstone Investment Advisors

Jonathan Sorrell is Capstone’s President, leading strategic initiatives and business development. Jonathan joined Capstone in 2020 from Man Group where he was President and Executive Board Director. In this role, he was responsible for global sales and marketing, investment businesses operating in private markets (Man GPM) and fund of hedge fund solutions (Man FRM), and group M&A and strategy.

Prior to becoming President at Man, Jonathan was Chief Financial Officer, responsible over time for finance, tax, internal audit, operations, technology and human resources. Before joining Man, Jonathan was a Managing Director at Goldman Sachs working in the investment banking, investment management and securities divisions in London and New York. During his thirteen year tenure at Goldman Sachs, Jonathan led investment banking coverage of asset management companies in EMEA and then managed the Goldman Sachs Petershill Fund, a vehicle investing in hedge fund management companies.

Jonathan is a Non-Executive Director of RIT Capital Partners plc, a co-founder of 100 Black Interns and 10,000 Black Interns, Chairman of the Investment Management Industry Group and Honorary Member of the Council of the NSPCC, a member of the Investment Committee of Help for Heroes and a Patron of the Amos Bursary.

Jonathan received an M.A. in Law from Cambridge University.

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DANIEL STONE

Principal and Portfolio Manager

IONIC CAPITAL MANAGEMENT

Daniel Stone (Principal and Portfolio Manager) – Daniel Stone is one of the co‐founders of Ionic, where he focuses on managing the firm’s interest rate, currency and credit strategies for the Volatility Funds. He has over 22 years of experience managing relative value arbitrage and long volatility strategies across multiple asset classes. Mr. Stone was formerly a Managing Director and Portfolio Manager in the US and European Volatility and Credit Arbitrage Group at Highbridge. He joined Highbridge in 1996 where he traded convertible bonds and equity, interest rate and credit derivatives. Mr. Stone earned an AB in Economics magna cum laude from Harvard College.

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Sandrine Ungari

Head of Cross Asset Quantitative Research

Société Générale

Sandrine Ungari joined Societe Generale in 2006 as a quantitative analyst within Global Research. She was then successively promoted to deputy head of Quant research and head of the Cross-Asset Quantitative Research group. Sandrine’s team is active in systematic quantitative strategies, machine learning, derivatives overlays and portfolio risk modeling. The team has been recognized as a market leader in quantitative research. It was ranked #1 in the latest Extel survey in this category and is the recipient of the Research House of the Year award from Risk Awards. Prior to that, Sandrine worked as a quantitative analyst at HBOS Treasury and at Reech Sungard in London. She holds a Master of Science from Ecole Nationale des Techniques Avancees and a Master in Quantitative Finance from Paris VI University.

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PETER VAN DOOIJEWEERT

Head of Institutional Hedging

MAN Group

Peter joined Man Group as Head of Institutional Hedging in June 2018 from Paloma Partners where he was responsible for managing a global volatility portfolio and a multi-asset tail hedge protection plan. He started his career with Goldman Sachs in Tokyo before moving on to Soros as a volatility PM and then later launching and managing a $400 million volatility hedge fund seeded by Tudor Investment.   Peter holds a degree in Accountancy from Wake Forest University and also studied in Japan at Tokai University.

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Pascale Venne

Investment Officer

CN Investment Division

Pascale is an Investment Officer at CN Investment Division in Montreal working in the Absolute Return group. In her role, Pascale develops and executes strategies as part of a Portable Alpha mandate and a Downside Protection mandate.

Prior to joining the firm, she worked at National Bank as a member of the Exchange Traded Funds market making team. Before that, she worked in the actuarial consulting group at Mercer.

Pascale holds a Bachelor’s Degree in Mathematics and Actuarial Science, as well as a Master’s Degree in Mathematical Finance and, in 2015, was awarded the Women in Financial Markets Scholarship from National Bank.

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David Warn

Chief Risk Officer

University of Chicago

David Warn is the Chief Risk Officer for the Office of Investments at University of Chicago, specializing in market risk management, analytical development, and risk and liquidity forecasting. He manages the Endowment’s strategic allocation to long volatility/tail hedging. Prior to joining the University in 2010, David spent six years with Morgan Stanley in London as head of equity risk analytics where he monitored European equity market risk. Previously, he was in a quantitative risk management role at Banca Intesa SpA in London, covering their exotic equity derivatives book.

David holds a PhD in Medical Statistics from the University of Cambridge, UK, and MSc and BSc degrees in Mathematics from Imperial College, London.

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.

www.36south.com

LOMBARD ODIER INVESTMENT MANAGERS

1798 ADAPT is a relative value, volatility strategy with a mandate to identify, understand and monetize dislocations and inefficiencies in the derivatives market, with a specific focus on equities, FX and commodities. The mandate is to take risk, and choose the appropriate timing, implementation, and mix of the various trades used. Notably, the strategy aims to have zero beta in order to produce performance across different market regimes, hence there is no inherent long or short volatility bias. The strategy taps into an original, niche source of alpha, and demonstrates a lack of correlation to both asset prices as well as traditional alternatives strategies.

The 1798 ADAPT strategy is part of the Lombard Odier Investment Managers 1798 Alternatives business, which provides investor access to highly pedigreed managers supported by an institutional class infrastructure, across capacity-constrained strategies, with a focus on sustainable alpha generation.

Lombard Odier Investment Managers (LOIM) is the asset management business of the Lombard Odier Group, which has been wholly owned and funded by its partners since our establishment over 220 years ago. With more than 150 investment professionals, LOIM is a global business with offices in Europe, Asia, the Middle East and North America, and more than 60 billion USD AUM (as at 30 June 2020). Throughout our history, we have been rethinking the old and embracing the new in our efforts to help our clients achieve their objectives in a changing world.

am.lombardodier.com

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.

www.bofaml.com

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.

www.barclays.co.uk

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.

www.blueowl.com

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

apac.bnpparibas

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.

www.capstoneco.com

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.

www.capulaglobal.com

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.

www.cboe.com

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.

www.cmegroup.com

Crabel

Crabel is a global alternative investment firm specializing in systematic, automated trading of worldwide futures and foreign exchange. Our Los Angeles based firm, founded by short-term trading pioneer Toby Crabel, manages $8 billion for its institutional clients and has delivered over 25 years of uncorrelated returns. The firm has developed a diverse array of trading strategies designed to systematically capture market anomalies implemented through a technologically advanced, low latency infrastructure. Global co-location facilities and proprietary execution algorithms allow the firm to efficiently trade in approximately 200 futures and foreign exchange markets.

www.crabel.com

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.

www.credit-suisse.com

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.

www.dominice.com

Eurex

As one of the world’s leading derivatives exchange, Eurex offers the broadest range of equity index derivatives worldwide and operates the most liquid euro fixed income market in the world. Innovative and reliable technology provides more than 400 participants and about 7200 traders in 34 countries worldwide with access to our products and services. We offer a wide choice of single equities, dividend and volatility derivatives as well as Total Return Futures, all on one single platform.

Eurex Clearing is one of the leading central counterparties globally – assuring the safety and integrity of markets while providing innovation in risk management and clearing technology. We clear the broadest scope of products under a single framework in Europe – both listed and OTC – fully complying with European regulation. The scope and scale of the cleared products ensure that the clearing community benefits from margin efficiencies – making trading capital efficient for a large variety of markets and products. Eurex Clearing serves more than 200 Clearing Members in 20 countries and manages a collateral pool of about EUR 46 billion.

Eurex Exchange is part of Deutsche Börse Group.

www.eurex.com

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.

www.gladiusgroup.com

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.

www.goldmansachs.com

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.

www.iiicm.com

Ionic Capital Management

Ionic Capital Management® LLC (“Ionic”) is a $2.5 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.

www.ioniccap.com

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.

www.jpmorgan.com

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.

www.man.com

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.

Click here to visit MIAX

Click here to visit MGEX

Click here to visit BSX

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.

www.nb.com

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.

www.parallaxfund.com

Penso Advisors

Penso Advisors LLC, established in 2010, is a $1.3 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: Global Macro Opportunities (GMO) – A high convexity, capital efficient, discretionary global macro strategy. Negative Correlated Alpha (NCA) – An alpha based, high convexity risk mitigation strategy implemented on a bespoke basis for institutional investors.

www.penso.com

Quantitative Brokers

Quantitative Brokers (QB), an independent, global financial technology company, provides advanced algorithms and data-driven analytics to clients in the Futures and US Cash Treasury markets. QB continually develops and innovates an evolving suite of products to reduce implicit trading costs for its clients. QB has offices in New York City, London, Sydney and Chennai.

quantitativebrokers.com

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 and proprietary trading firms around the world. The platform is a high-performance, cloud-based trading system empowering institutional clients with tools to construct, manage, and scale complex equity, futures and option strategies. SpiderRock is also a market data vendor specializing in low latency data service and normalized multicast data 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.

www.spiderrock.net

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

www.societegenerale.com

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.

www.systematica.com

TRUE PARTNER CAPITAL

True Partner Capital is a global volatility manager which trades listed derivatives on all of the major global equity markets from its offices in Chicago and Hong Kong. With a distinct market maker heritage and emphasis on our proprietary trading technology and risk management, the firm aims to provide uncorrelated and absolute returns for its clients and investors. It is the intention to especially outperform in times of general market turmoil. The applied strategies strive to identify overvalued and undervalued volatility, with an overall vega and delta neutral bias. Running a global volatility book trading around the clock, it is the team’s belief that a significant part of the opportunity set originates from the Asian timezone.

www.truepartnercapital.com