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Global Volatility Summit Tokyo

May 17, 2023 Mandarin Oriental Tokyo

We are pleased to announce the 4th Annual Global Volatility Summit Tokyo will be taking place on May 17, 2023 at the Mandarin Oriental. GVS remains dedicated to educating investors and providing thought leadership around the volatility and derivatives markets. The event will include timely and thought-provoking manager and investor panels and discussions as well as opportunities to network with participating managers and peers. The GVS team is excited to be back in person this year, and we hope you will join us.
If interested in registering for this event, please reach out to info@globalvolatilitysummit.com

2023 Global Volatility Summit

Save the date for May 17, 2023, in Tokyo, Japan

2023 Event Agenda

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2023 EVENT SPEAKERS

WILL BARTLETT

PARALLAX VOLATILITY ADVISERS

Deniz Cicek

Axonic Capital

Paul Britton

Capstone Investment Advisors

TOBIAS HEKSTER

TRUE PARTNER CAPITAL

Grant Jaffarian

Crabel Capital Management

Ryan McRandal

One River Asset Management

Diego Parilla

36 South Capital

Robert Printz

III Capital Management

Pav Sethi

Gladius Capital Management

Dan Stone

Ionic Capital Management

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 25 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 Trustees for both The Hamlin School and San Francisco University High School, The Board of Governors for Boys & Girls Clubs of San Francisco, and is a Senior 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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Deniz Cicek

Portfolio Manager

Axonic Capital

Deniz Cicek joined Axonic in 2017. He is the Lead Portfolio Manager of Axonic Systematic Arbitrage Fund responsible for portfolio management, research, and trading activities. Between 2010 and 2017, he was employed at Barclays Bank PLC where he started in Quantitative Analytics Department as a desk quant. In 2012 he moved internally to one of the propriety trading desks where he traded interest rate derivatives systematically. During his last year at Barclays, he was part of Quantitative Investment Strategies group building and trading systematic strategies and alternative beta indices for institutional clients. He holds a BS in Industrial Engineering with a Minor in Mathematics from Sabanci University in Istanbul and was in the PhD program in Decision, Risk & Operations Department at Columbia Business School.

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2023 Paul Britton (Capstone) 300x300

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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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.

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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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Ryan McRandal

Deputy Chief Investment Officer

One River Asset Management

Ryan McRandal is Deputy Chief Investment Officer at One River Asset Management. He is responsible for running the firm’s investment platform with Stephen Prajna (also Deputy CIO) and Eric Peters (CIO). Ryan manages the firm’s Volatility Relative Value strategy and co-manages the Dynamic Convexity strategy. Prior to One River, Ryan was Head of Thematic Portfolio Management at AXA Investment Managers in London where he focused on creating customized solutions and building thematic portfolios for institutional clients. Ryan also managed the AXA Alternative Tail Hedge Fund, an award-winning tail protection fund. Prior to this, Ryan was Head of Research at Unifortune, a multi-year award winning hedge fund boutique. In this role Ryan was responsible for overseeing research into both discretionary and systematic investment strategies. Prior to that role, he was a trader (Vice President) at Swiss Re Capital Markets and a trader on WestLB’s Cross Asset Arbitrage Desk, primarily trading interest rate, foreign exchange, and emerging market derivatives.

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Diego Parrilla

Principal

36 South Capital

Diego Parrilla is Principal at 36 South Capital, a $2 billion hedge fund with a 21 year track record in long volatility and tail risk strategies headquartered in London. Diego has over 25 years of investment and senior management experience across macro and commodity markets at industry leaders JP Morgan, Goldman Sachs, Merrill Lynch, BlueCrest Capital, Dymon Asia, Old Mutual Global Investors, and Quadriga Asset Managers between in London, New York, Singapore, and Madrid.

Diego is the co-author of best-seller “The Energy World is Flat” (Wiley, 2014), “The Anti-Bubbles” (2017), and selective contributor to leading financial media Financial Times (including two FT Insight Columns), WSJ, Reuters, CNN, Bloomberg, Hedgeye, MacroVoices, Real Vision, The Felder Report, El Mundo, and publishes the monthly newsletter “The Anti-Bubble Report” (25k subscribers).

Diego holds a MSc in Mineral Economics from Colorado School of Mines (USA), MSc Petroleum Economics from French Institute of Petroleum in Paris (France), MS Mining Petroleum Engineering Polytechnic University of Madrid in 1997 and completed JP Morgan Markets Training Program in New York in 1998. Diego is married and a father of 3 children, passionate about sports (former competitive football and tennis player), foreign cultures and languages. He is fluent in Spanish, English, French and keen student of Italian and Mandarin Chinese.

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Robert Printz

Principal and Presiden

III Capital Management

Robert Printz is a principal and President of the firm, which he joined in 2000. From 1996 to 2000, Rob was with Barclays Capital as Managing Director of Capital Markets and at separate times Head of Generalist Sales, Derivatives Sales and Global Hedge Fund Sales. Prior to joining Barclays, in 1996 Rob worked at Merrill Lynch as a Director in derivatives sales, from 1993 to 1996 at JP Morgan Securities as MBS product manager and hedge fund salesperson, and from 1986 to 1993 at Mitsui Bank as a portfolio manager. Rob earned an M.B.A. in International Finance (1986) from New York University Stern School of Business and a B.S. in Management (1984) from the State University of New York at Binghamton.

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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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DAn STONE

Principal and Portfolio Manager

IONIC CAPITAL MANAGEMENT

Dan Stone is one of the co-founders of Ionic, where he focuses on managing the interest rates, currencies and credit strategies.  He has over 25 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 U.S. and European Volatility and Credit Arbitrage Group at Highbridge.  He joined Highbridge in 1996 where he managed convertible bonds and equity, interest rate and credit derivatives.  Mr. Stone earned an AB in Economics Magna cum Laude from Harvard College.

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

Axonic Capital

Axonic is an independent financial services firm, headquartered in New York City, offering asset management services across structured credit and commercial real estate (“CRE”) lending. We currently manage approximately $4.1 billion in assets and employ 57 professionals. Our business model is providing niche opportunistic investment solutions from an experienced team with expertise in creating unique advantages through sourcing and asset allocation.

www.axoniccap.com

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 $9.2 billion of AUM and 236 employees as of June 1, 2022, Capstone was established in 2007 and is headquartered in New York with offices in London, Amsterdam, Stamford, Boston and Los Angeles, as well as a new office opening in Hong Kong in mid-2022. Through strategic insight, market-leading derivatives 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

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

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 $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.

www.ioniccap.com

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.

www.oneriveram.com

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.

www.optiver.com

Parallax Volatility Advisers

Parallax Volatility Advisers, L.P. is the San Francisco based investment adviser to Parallax Master Fund, L.P. and Cega RV Master Fund, L.P. Parallax has four distinct investment strategies that align with our data-driven approach to capturing value through volatility and market dislocation by integrating robust quantitative models and embedded risk modeling with state-of-the-art technology.

Parallax Master Fund 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.

Cega RV is a capital structure and convertible relative value fund that seeks to capture value through relative value trading within corporate capital structures. Cega RV seeks to generate returns by identifying pricing dislocations across an issuer’s capital structure (equity, debt, and relative derivatives) via this long volatility, long convexity strategy.

Corvus Delta is a global, diversified, systematic strategy that is uncorrelated to traditional investment benchmarks and is committed to trend and counter-trend following. Corvus Delta strives to profit from the mispricing of global assets resulting from large, dominant flows in liquid markets via its data-driven approach to trading.

Parallax Eclipse Digital is a Digital Asset strategy that seeks to capture value in the Digital Asset space through Relative Value Volatility Arbitrage in both listed and OTC options across multiple cryptocurrencies and crypto-related equities. The strategy captures value by monitoring options markets across multiple exchanges and executing trades when prices diverge relative to our proprietary models.

www.parallaxfund.com

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.

www.truepartnercapital.com

UBS

UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as to private clients in Switzerland. UBS offers investment solutions, products and impactful thought leadership, is the leading global wealth manager, provides large-scale and diversified asset management, focused investment banking capabilities, and personal and corporate banking services in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient and have an attractive long-term structural growth or profitability outlook.   UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

www.ubs.com