​Daily Bulletin: Monday March 23

It was a fairly muted day in the listed markets on Monday compared to last week, with an EEM Sep 33-Dec 32 put spread standing out to traders as one investor rolled a position to Dec. Today, EQDerivatives reports on AccuShares Investment Management being close to launching a spot CBOE Volatility Index ETF. The novel structure will have two classes of shares – one allowing holders to take upside exposure, the other downside. The vehicle will allow spot VIX exposure to be traded – a front-of-the-curve complement to current options, futures and swaps on volatility. Elsewhere, we look at why Nikkei 225 (NKY) back-end volatility is range trading, despite a wave of reissuance in structured products last week as previous structures knocked out on the back of a surge in the index earlier this month. We also take a look at an S&P 500 listed variance trade that recently hit the market, and separately how San Bernardino County Employees’ Retirement Association explores volatility.