​Weekly: VSTOXX/VIX Spread; U.K. Pensions & Equity Derivs; McNeill Joining CS

It was a tough week for equity derivatives participants in Europe, jumping from headline to headline as the Greek saga continued. It seems the majority of hedge funds are sitting on the sidelines when it comes to Europe, waiting for the result of the country’s referendum at the weekend. According to news reports, supporters of the bailout hold a narrow lead in opinion polls over the ‘No’ voters. In this week’s coverage, we look at how the response of the Chicago Board Options Exchange Volatility Index to recent market turmoil in relation to the S&P 500 is driving relative value trades between the two indices. We also report on U.K. defined benefit pension schemes increasingly using equity synthetic strategies for risk management. In People & Firm’s, we have the exclusive on JPM’s Daniel McNeill joining Credit Suisse. Also, don’t miss Euan Sinclair’s article: ‘Does The VIX Know More Than The S&P 500?