STOXX 600 Index - Dividends and Implied Volatility Surfaces Parameters

Page 1

25.02.2013

Option Implied Volatility Skew Parameters by Terms: 2 IVt = atx + btx + ct

At The Money Implied Volatilities by Terms ATM Ref

Dividend Yield

Next ExDividend Date

III LN Equity

GB00B1YW4409

3I GROUP PLC

Financials

312.40

2.62%

19.06.2013

17.97

17.62

17.27

17.82

AALB NA Equity

NL0000852564

AALBERTS INDUSTRIES NV

Industrials

16.58

2.11%

29.04.2013

24.23

20.58

20.61

20.39

ABBN VX Equity

CH0012221716

ABB LTD-REG

Industrials

21.44

3.18%

30.04.2014

17.48

16.91

17.56

18.15

19.24

19.96

20.23

ADN LN Equity

GB0000031285

ABERDEEN ASSET MGMT PLC

Financials

435.20

3.03%

08.05.2013

ABE SQ Equity

ES0111845014

ABERTIS INFRAESTRUCTURAS SA

Industrials

13.40

4.93%

12.04.2013

22.32

22.15

22.57

22.99

22.62

22.27

22.55

-0.149 -0.128 -0.112 -0.148 -0.112 -0.123 -0.094 0.002

ANA SQ Equity

ES0125220311

ACCIONA SA

Utilities

46.99

5.75%

04.06.2013

40.95

39.52

38.42

37.16

35.65

34.65

34.38

-0.166 -0.146 -0.085 -0.014 -0.098 -0.048 -0.137 -0.001 -0.001 0.000 -0.001 -0.001 -0.001 0.000

AC FP Equity

FR0000120404

ACCOR SA

Consumer Discretionary

28.13

2.70%

11.06.2013

25.17

25.92

25.48

25.93

26.77

27.42

ACX SQ Equity

ES0132105018

ACERINOX SA

Materials

8.14

6.75%

05.07.2013

31.09

30.43

30.72

31.58

28.72

28.39

28.58

-0.022 -0.026 -0.057 -0.094 0.034

0.038

ACKB BB Equity

BE0003764785

ACKERMANS & VAN HAAREN

Financials

69.37

2.48%

29.05.2013

ACS SQ Equity

ES0167050915

ACS ACTIVIDADES CONS Y SERV

Industrials

18.60

11.24%

05.07.2013

28.24

27.23

26.70

25.74

23.62

21.83

21.62

-0.206 -0.151 -0.123 -0.081 -0.068 0.059

ATLN VX Equity

CH0010532478

ACTELION LTD-REG

Health Care

48.44

2.07%

22.04.2014

26.85

25.11

25.30

26.39

25.38

25.41

ADEN VX Equity

CH0012138605

ADECCO SA-REG

Industrials

54.30

3.32%

26.04.2013

28.30

24.84

25.51

24.04

24.01

24.10

23.96

ADS GY Equity

DE000A1EWWW0

ADIDAS AG

Consumer Discretionary

71.03

1.76%

09.05.2013

26.01

22.43

22.39

23.03

22.76

22.48

22.57

-0.217 -0.153 -0.098 -0.081 -0.059 -0.028 0.011

0.017

ADM LN Equity

GB00B02J6398

ADMIRAL GROUP PLC

Financials

1261.00

6.92%

15.05.2013

AGS LN Equity

GB00B4JV1B90

AEGIS GROUP PLC

Consumer Discretionary

238.60

AGN NA Equity

NL0000303709

AEGON NV

Financials

4.82

4.56%

15.08.2013

29.06

28.18

28.31

28.36

27.40

28.75

29.07

-0.273 -0.233 -0.146 -0.177 -0.081 -0.020 0.060

ADP FP Equity

FR0010340141

ADP

Industrials

62.54

2.81%

13.05.2013

17.05

17.02

17.60

17.61

17.51

17.95

-0.125 -0.036 0.006

AFR LN Equity

GB00B0672758

AFREN PLC

Energy

146.40

AGS BB Equity

BE0974264930

AGEAS

Financials

26.27

4.57%

29.04.2013

26.50

24.14

23.89

24.79

24.38

24.14

AGK LN Equity

GB00B4WQ2Z29

AGGREKO PLC

Industrials

1695.00

1.46%

24.04.2013

AF FP Equity

FR0000031122

AIR FRANCE-KLM

Industrials

7.74

16.07.2013

41.83

40.09

40.87

39.78

38.78

AI FP Equity

FR0000120073

AIR LIQUIDE SA

Materials

93.64

12.05.2014

16.37

15.91

16.97

17.78

AIXA GY Equity

DE000A0WMPJ6

AIXTRON SE

Information Technology

9.24

24.05.2013

44.08

39.32

39.70

39.50

AKSO NO Equity

NO0010215684

AKER SOLUTIONS ASA

Energy

112.20

3.57%

18.04.2014

31.12

32.17

32.08

32.18

AKZA NA Equity

NL0000009132

AKZO NOBEL

Materials

49.77

2.93%

22.10.2013

28.26

27.43

26.03

25.24

24.89

24.48

ALU FP Equity

FR0000130007

ALCATEL-LUCENT

Information Technology

09.06.2014

54.43

57.95

63.63

62.84

64.73

62.51

ALFA SS Equity

SE0000695876

ALFA LAVAL AB

Industrials

152.00

2.30%

24.04.2014

19.62

19.20

21.17

21.06

23.96

23.96

ALV GY Equity

DE0008404005

ALLIANZ SE-REG

Financials

106.55

4.22%

08.05.2014

21.83

20.38

20.70

20.94

20.82

20.37

ALLN SE Equity

CH0008837566

ALLREAL HOLDING AG-REG

Financials

135.90

4.05%

09.04.2013

ALO FP Equity

FR0010220475

ALSTOM

Industrials

33.29

2.85%

27.06.2013

28.94

27.83

28.66

29.34

29.54

AMS SQ Equity

EU0009658145

AMADEUS IT HOLDING SA-A SHS

Information Technology

18.76

18.74

19.17

19.78

AMEC LN Equity

GB0000282623

AMEC PLC

Energy

AMEAS FH Equity FI0009000285

AMER SPORTS OYJ

Consumer Discretionary

AML LN Equity

GB00B2988H17

AMLIN PLC

Financials

ANDR AV Equity

AT0000730007

ANDRITZ AG

Industrials

AAL LN Equity

GB00B1XZS820

ANGLO AMERICAN PLC

Materials

ABI BB Equity

BE0003793107

ANHEUSER-BUSCH INBEV NV

Consumer Staples

ANTO LN Equity

GB0000456144

ANTOFAGASTA PLC

MAERSKB DC Equity DK0010244508 MT NA Equity

LU0323134006

AKE FP Equity

FR0010313833

ARM LN Equity

Stoxx 600 Index

Ticker

ISIN

Name

GICS_SECTOR_NAME

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M 0.059

0.002

0.005

0.007

0.005

-0.278 -0.066 -0.090 -0.093

0.018

0.005

0.003

0.005

-0.230 -0.231 -0.069 -0.104 -0.126 -0.109 -0.082 0.034

0.108

0.099

0.089

0.012

0.005

0.006

0.002

0.002

0.002

0.003

0.002

0.003

0.003

0.003

0.003

-0.105 -0.135 -0.105 -0.120 -0.096 -0.120

0.029

0.006

0.003

0.002

0.002

0.002

0.065

0.001

0.000

0.001

0.000

0.001

0.001

0.268

0.002

0.002

0.002

0.001

0.001

0.002 -0.002

0.016

0.003

0.002

0.002

0.001

0.001

-0.315 -0.113 -0.014 -0.077 -0.064 -0.059 -0.052 0.012

0.003

0.001

0.003

0.002

0.002

0.002

0.008

0.005

0.002

0.001

0.001

0.001

0.032

0.004

0.005

0.004

0.002

0.000 -0.002

0.017

0.002

0.000

0.000

0.000

0.000

24.22

-0.268 -0.097 -0.071 -0.067 -0.069 -0.079 -0.059 0.010

0.003

0.002

0.003

0.002

0.002

0.002

37.01

30.50

-0.239 -0.089 -0.119 -0.146 0.010

0.026 -0.276 0.010

0.003

0.001

0.002

0.000

0.001

0.003

18.65

19.38

20.06

-0.175 -0.116 -0.068 -0.117 -0.139 -0.138 -0.132 0.027

0.014

0.008

0.003

0.003

0.002

0.002

39.92

40.51

40.18

-0.119 -0.151 -0.154 -0.155 -0.153 -0.233 -0.269 0.004

0.002

0.001

0.000

0.000

0.001

0.002

-0.206 -0.183 -0.152 -0.165

0.047

0.032

0.017

0.002

23.89

-0.313 -0.189 -0.157 -0.142 -0.108 -0.082 -0.063 0.019

0.005

0.003

0.003

0.002

0.002

0.002

62.18

-0.288 -0.334 -0.228 -0.127 -0.114 -0.055 -0.056 0.029

0.014

0.006

0.005

0.000

0.000

0.000

-0.273 -0.197 -0.138 -0.137 -0.102 -0.102

0.045

0.020

0.008

0.004

0.001

0.001

20.17

-0.169 -0.131 -0.085 -0.089 -0.078 -0.048 -0.027 0.026

0.010

0.005

0.003

0.002

0.002

0.002

29.99

29.25

-0.316 -0.224 -0.199 -0.130 -0.082 -0.071 -0.095 0.023

0.008

0.006

0.003

0.002

0.002

0.002

20.59

20.48

20.48

-0.129 -0.115 -0.098 -0.131 -0.109 -0.103 -0.099 0.001

0.002

0.001

0.002

0.001

0.001

0.001

-0.316 -0.030 -0.011 0.020

-0.268 -0.154 -0.121 -0.108 -0.080 -0.071

0.000

12.06.2013

2.67%

1.12

20.31

2.56%

29.07.2013

1055.00

3.54%

27.11.2013

12.93

2.71%

10.03.2014

429.50

5.73%

03.04.2013

52.07

2.40%

26.03.2013

27.93

25.51

26.75

26.68

28.49

33.45

1989.50

2.92%

14.08.2013

32.43

31.08

30.56

30.68

31.27

31.83

70.41

2.13%

26.04.2013

25.88

22.46

22.36

21.61

21.35

21.35

Materials

1122.00

1.41%

08.05.2013

34.36

33.36

32.66

32.17

AP MOELLER-MAERSK A/S-B

Industrials

45520.00

2.64%

14.04.2014

24.45

22.84

22.92

23.08

ARCELORMITTAL

Materials

11.85

1.27%

09.05.2014

31.03

31.74

32.49

33.12

34.15

35.03

ARKEMA

Materials

84.23

2.02%

29.05.2013

35.01

34.29

33.57

33.75

33.83

33.83

DE0005557508

ARM HOLDINGS PLC

Information Technology

941.50

0.51%

04.09.2013

28.75

28.65

28.45

28.65

ARYN SE Equity

CH0043238366

ARYZTA AG

Consumer Staples

53.30

1.30%

29.01.2014

15.71

16.03

16.43

17.09

ASHM LN Equity

GB00B132NW22

ASHMORE GROUP PLC

Financials

360.80

4.29%

06.11.2013

AHT LN Equity

GB0000536739

ASHTEAD GROUP PLC

Industrials

499.50

0.92%

14.08.2013

ASM NA Equity

NL0000334118

ASM INTERNATIONAL NV

Information Technology

ASML NA Equity

NL0010273215

30.30

31.26

0.003 -0.003 -0.015

0.022

0.003

0.000 -0.001 -0.001 -0.005

-0.275 -0.113 -0.097 -0.101 -0.061 -0.047 -0.067 0.015

0.005

0.001

0.002

0.001

0.000

-0.356 -0.221 -0.157 -0.148 -0.129 -0.129

0.501

0.706

0.013

0.006

0.004

0.003

0.002

0.002

-0.287 -0.213 -0.141 -0.068

0.004

0.003

0.002 -0.002

-0.050 -0.020 -0.003 -0.006

17.69

17.68

35.48

38.97

31.41

31.98

28.25

ASML HOLDING NV

Information Technology

54.80

0.97%

24.04.2014

28.12

29.68

28.74

28.48

28.33

28.36

ASSAB SS Equity SE0000255648

ASSA ABLOY AB-B

Industrials

256.10

1.99%

28.04.2014

18.53

19.16

20.09

21.09

23.53

23.53

G IM Equity

IT0000062072

ASSICURAZIONI GENERALI

Financials

13.13

2.67%

20.05.2013

31.58

28.81

29.02

27.59

27.57

27.65

27.38

ABF LN Equity

GB0006731235

ASSOCIATED BRITISH FOODS PLC

Consumer Staples

1819.00

1.70%

05.06.2013

13.22

12.89

12.57

12.46

AZN LN Equity

GB0009895292

ASTRAZENECA PLC

Health Care

2974.50

6.44%

07.08.2013

16.33

16.13

16.63

16.73

17.26

16.71

17.78

ATL IM Equity

IT0003506190

28.68

0.004

0.000

0.000

0.000

-0.292 -0.210 -0.172 -0.137 -0.096 -0.073 -0.063 0.020

0.004

0.003

0.002

-0.039 -0.026 -0.014 0.009

0.003

0.001

0.000 -0.003 -0.002 -0.002

-0.394 -0.292 -0.188 -0.069

0.026

0.018

0.010

-0.165 -0.071 -0.083 -0.073 -0.065 -0.060

0.028

0.004 -0.001 0.000

-0.137 0.001 -0.073 -0.129

0.020

0.020

0.000

0.000 -0.001 -0.001

0.002 0.001

0.001

0.017

0.005

0.003

0.004

-0.321 -0.182 -0.136 -0.160 -0.119 -0.100 -0.080 0.013

0.002

0.002

0.002

0.001

0.001

-0.350 -0.249 -0.179 -0.131 -0.104 -0.104

0.057

0.017

0.010

0.006

0.000

0.000

-0.418 -0.300 -0.283 -0.182 -0.112 -0.072 -0.047 0.016

0.005

0.004

0.002

0.001

0.000

0.000

-0.139 -0.100 -0.060 -0.041

0.002

0.004

0.003

0.001

0.001

-0.134 -0.163 -0.180 -0.130 -0.091 -0.060 -0.093 0.009

0.013

0.007

0.004

0.002

0.002

0.001

0.001

0.001

ATLANTIA SPA

Industrials

13.45

5.72%

20.05.2013

24.98

22.55

23.79

23.18

22.99

22.99

-0.312 -0.257 -0.222 -0.166 -0.182 -0.182

0.011

0.010

0.005

0.002

ATCOA SS Equity SE0000101032

ATLAS COPCO AB-A SHS

Industrials

186.70

2.95%

30.04.2014

18.42

18.40

20.34

21.42

24.72

24.72

-0.218 -0.179 -0.129 -0.103 -0.091 -0.091

0.042

0.018

0.009

0.005 -0.001 -0.001

ATO FP Equity

FR0000051732

ATOS

Information Technology

58.99

1.02%

13.06.2013

24.34

24.13

23.92

24.58

25.69

25.69

-0.123 -0.117 -0.110 -0.105 -0.096 -0.096

0.012

0.009

0.006

0.002

0.001

0.001

NDA GY Equity

DE0006766504

AURUBIS AG

Materials

53.95

2.50%

28.02.2014

21.08

21.62

22.00

23.46

24.12

24.13

23.87

-0.050 -0.083 -0.072 -0.066 -0.046 -0.029 -0.009 0.021

0.002

0.002

0.002

0.001

0.002

0.002

AVV LN Equity

GB00B15CMQ74

AVEVA GROUP PLC

Information Technology

2319.00

1.07%

19.06.2013

AV/ LN Equity

GB0002162385

AVIVA PLC

Financials

364.10

7.14%

20.03.2013

29.20

19.22

20.14

19.67

18.29

14.04

13.46

-0.114 -0.024 -0.022 -0.084 0.006

0.005

0.003

0.005

0.002

0.006

0.010

0.010

CS FP Equity

FR0000120628

AXA SA

Financials

13.98

5.15%

05.05.2014

26.96

25.61

25.66

25.99

27.79

28.33

27.10

-0.189 -0.130 -0.181 -0.145 -0.141 -0.150 -0.166 0.022

0.006

0.007

0.002

0.002

0.001

0.002

SPR GY Equity

DE0005501357

AXEL SPRINGER AG

Consumer Discretionary

36.44

4.94%

25.04.2013

16.05

15.83

14.68

15.04

15.88

16.99

17.06

-0.277 -0.081 0.061

0.016

0.005

0.001

0.001

0.000

0.000

0.001

BAB LN Equity

GB0009697037

BABCOCK INTL GROUP PLC

Industrials

1072.00

2.43%

03.07.2013

BA/ LN Equity

GB0002634946

BAE SYSTEMS PLC

Industrials

352.90

5.61%

16.10.2013

19.35

19.52

20.50

19.90

20.03

20.03

0.034

0.009

0.006

0.002

0.002

0.002

BBY LN Equity

GB0000961622

BALFOUR BEATTY PLC

Industrials

287.80

5.08%

24.04.2013

BALN VX Equity

CH0012410517

BALOISE HOLDING AG - REG

Financials

83.65

5.38%

03.05.2013

15.99

16.00

12.42

15.89

16.48

17.26

17.55

-0.242 -0.273 -0.100 -0.109 -0.079 -0.065 -0.053 0.027

0.012

0.008

0.005

0.002

0.002

0.002

BMPS IM Equity

IT0001334587

BANCA MONTE DEI PASCHI SIENA

Financials

0.23

20.05.2013

56.64

52.84

51.44

48.41

50.65

55.55

52.97

-0.187 -0.110 -0.187 -0.230 -0.469 -0.995 -1.079 0.003

0.003

0.005

0.005

0.002

0.002

0.002

BPE IM Equity

IT0000066123

BANCA POPOL EMILIA ROMAGNA

Financials

6.04

20.05.2013

41.02

41.65

45.69

41.10

41.60

42.98

-0.012 -0.058 -0.254 -0.080 -0.068 -0.087

-0.001 0.000

0.000

0.001

0.000

0.000

PMI IM Equity

IT0000064482

BANCA POPOLARE DI MILANO

Financials

0.57

20.05.2013

50.95

46.55

45.28

42.02

41.54

41.54

-0.266 -0.408 -0.230 -0.183 -0.104 -0.104

0.008

0.003

0.002

0.001

0.001

BPSO IM Equity

IT0000784196

BANCA POPOLARE DI SONDRIO

Financials

5.05

2.97%

22.04.2013

30.93

34.32

31.04

32.00

31.85

33.63

-0.168 -0.355 -0.138 -0.097 -0.092 -0.116

0.004 -0.001 0.000

BBVA SQ Equity

US78378X1072

BANCO BILBAO VIZCAYA ARGENTA

Financials

7.73

5.43%

16.04.2013

32.85

30.30

31.61

29.18

28.93

28.75

28.00

-0.360 -0.404 -0.370 -0.261 -0.194 -0.148 -0.081 0.008

0.007

0.005

0.002 -0.001 -0.002 -0.002

SAB SQ Equity

ES0113860A34

BANCO DE SABADELL SA

Financials

1.75

0.57%

10.09.2013

41.85

37.02

37.31

40.54

40.51

38.21

38.06

0.203

0.000

0.003

0.002

BES PL Equity

PTBES0AM0007

BANCO ESPIRITO SANTO-REG

Financials

0.99

07.04.2014

BP IM Equity

IT0004231566

BANCO POPOLARE SCARL

Financials

1.43

20.05.2013

47.18

42.80

40.94

38.59

37.53

37.53

0.004

POP SQ Equity

ES0113790531

BANCO POPULAR ESPANOL

Financials

0.65

13.03.2013

69.14

64.29

59.74

56.86

49.21

52.48

56.91

SAN SQ Equity

ES0113900J37

BANCO SANTANDER SA

Financials

5.99

08.07.2013

32.35

28.54

29.61

29.22

26.96

24.36

23.85

BKIR ID Equity

IE0030606259

BANK OF IRELAND

Financials

0.14

11.03.2013

39.47

38.73

39.10

39.23

39.60

40.74

BKIA SQ Equity

ES0113307039

BANKIA SA

Financials

0.30

46.96

43.05

39.14

45.51

43.70

45.28

BCVN SE Equity

CH0015251710

BANQUE CANTONALE VAUDOIS-REG

Financials

529.00

6.05%

29.04.2014

24.10

22.58

15.95

20.24

22.39

24.78

BARC LN Equity

GB0031348658

BARCLAYS PLC

Financials

316.55

2.21%

01.05.2013

31.46

29.69

29.96

29.61

29.06

29.50

BDEV LN Equity

GB0000811801

BARRATT DEVELOPMENTS PLC

Consumer Discretionary

238.50

1.26%

17.04.2013

22.89

22.52

22.16

21.59

BARN SE Equity

CH0009002962

BARRY CALLEBAUT AG-REG

Consumer Staples

910.00

1.70%

27.02.2014

16.67

16.88

16.68

17.00

17.40

17.65

BAS GY Equity

DE000BASF111

BASF SE

Materials

75.61

3.44%

29.04.2013

22.78

21.05

21.08

21.61

22.60

23.85

BAYN GY Equity

DE000BAY0017

BAYER AG-REG

Health Care

74.57

2.41%

29.04.2013

24.03

21.94

22.23

22.40

22.80

23.46

BMW GY Equity

DE0005190003

BAYERISCHE MOTOREN WERKE AG

Consumer Discretionary

70.99

3.66%

15.05.2013

26.40

26.67

26.09

25.81

25.56

25.71

BEI GY Equity

DE0005200000

BEIERSDORF AG

Consumer Staples

66.33

1.21%

19.04.2013

20.68

18.73

18.86

18.81

19.58

20.04

BELG BB Equity

BE0003810273

BELGACOM SA

Telecommunication Services 20.99

10.39%

23.04.2013

22.82

20.34

14.66

13.29

17.67

17.67

BWY LN Equity

GB0000904986

BELLWAY PLC

Consumer Discretionary

1151.00

2.08%

22.05.2013

BKG LN Equity

GB00B02L3W35

BERKELEY GROUP HOLDINGS

Consumer Discretionary

1893.00

0.79%

BG/ LN Equity

GB0008762899

BG GROUP PLC

Energy

1177.00

1.50%

31.07.2013

22.93

22.99

23.73

24.65

24.85

24.85

BLT LN Equity

GB0000566504

BHP BILLITON PLC

Materials

2134.50

3.59%

04.09.2013

24.32

24.37

24.50

24.52

25.25

24.74

24.04

GBF GY Equity

DE0005909006

BILFINGER SE

Industrials

80.80

3.71%

22.04.2014

19.02

18.11

19.58

20.35

21.26

21.81

21.67

-0.387 -0.159 -0.095 -0.138 -0.100 -0.097 -0.080 0.018

BIM FP Equity

FR0010096479

BIOMERIEUX

Health Care

73.60

1.48%

03.06.2013

23.47

23.39

23.40

23.73

23.59

23.84

-0.169 -0.004 0.004

BNP FP Equity

FR0000131104

BNP PARIBAS

Financials

45.08

3.33%

30.05.2014

34.24

32.13

32.92

31.28

30.40

29.81

BOL SS Equity

SE0000869646

BOLIDEN AB

Materials

111.90

3.57%

05.05.2014

23.22

22.29

24.19

24.61

26.59

26.59

BME SQ Equity

ES0115056139

BOLSAS Y MERCADOS ESPANOLES

Financials

20.93

7.65%

06.09.2013

32.30

28.75

27.07

24.34

22.23

20.85

21.64

BOK LN Equity

GB00B01TND91

BOOKER GROUP PLC

Consumer Staples

115.20

2.20%

05.06.2013

EN FP Equity

FR0000120503

BOUYGUES SA

Industrials

20.33

7.87%

30.04.2013

40.63

33.91

31.46

30.23

28.77

28.07

30.67

-0.092 -0.070 0.075

BP/ LN Equity

GB0007980591

BP PLC

Energy

453.75

5.39%

08.05.2013

24.97

23.62

23.19

22.39

21.62

19.95

BNR GY Equity

DE000A1DAHH0

BRENNTAG AG

Industrials

109.90

2.18%

20.06.2013

20.01

19.82

20.29

21.86

21.65

21.18

BATS LN Equity

GB0002875804

BRITISH AMERICAN TOBACCO PLC

Consumer Staples

3450.00

3.96%

13.03.2013

17.30

16.45

16.52

16.99

BLND LN Equity

GB0001367019

BRITISH LAND CO PLC

Financials

571.00

4.69%

03.07.2013

14.66

14.57

14.31

14.47

BSY LN Equity

GB0001411924

BRITISH SKY BROADCASTING GRO

Consumer Discretionary

826.00

3.44%

23.10.2013

15.57

15.76

16.02

17.35

17.70

17.70

BVIC LN Equity

GB00B0N8QD54

BRITVIC PLC

Consumer Staples

424.70

4.21%

29.05.2013

BT/A LN Equity

GB0030913577

BT GROUP PLC

Telecommunication Services 274.40

3.57%

07.08.2013

22.83

21.86

23.63

23.12

22.80

20.60

BTG LN Equity

GB0001001592

BTG PLC

Health Care

335.10

BNZL LN Equity

GB00B0744B38

BUNZL PLC

Industrials

1218.00

2.35%

06.11.2013

BRBY LN Equity

GB0031743007

BURBERRY GROUP PLC

Consumer Discretionary

1394.00

2.08%

03.07.2013

27.90

28.15

27.74

29.30

29.58

BVI FP Equity

FR0006174348

BUREAU VERITAS SA

Industrials

96.40

1.54%

11.06.2013

16.04

16.09

16.01

15.84

15.77

BPTY LN Equity

GI000A0MV757

BWIN.PARTY DIGITAL ENTERTAIN

Consumer Discretionary

140.60

2.60%

08.05.2013

GCC ID Equity

IE00B010DT83

C&C GROUP PLC

Consumer Staples

4.88

1.95%

22.05.2013

23.19

22.20

22.87

22.44

22.71

CWC LN Equity

GB00B5KKT968

CABLE & WIRELESS COMMUNICATI

Telecommunication Services 42.09

6.39%

29.05.2013

26.91

27.22

27.54

CNE LN Equity

GB00B74CDH82

CAIRN ENERGY PLC

Energy

31.99

32.27

32.56

CABK SQ Equity

ES0140609019

CAIXABANK S.A

Financials

3.12

7.41%

26.03.2013

25.01

29.78

29.44

28.59

25.86

24.21

CAP FP Equity

FR0000125338

CAP GEMINI

Information Technology

38.42

2.60%

04.06.2014

28.68

27.64

28.06

29.41

29.58

29.41

CPI LN Equity

GB00B23K0M20

CAPITA PLC

Industrials

846.00

2.86%

17.04.2013

CAPC LN Equity

GB00B62G9D36

CAPITAL & COUNTIES PROPERTIE

Financials

255.30

0.61%

15.05.2013

CLLN LN Equity

GB0007365546

1.66%

9.95%

278.10

0.056

0.034

0.010 0.008

0.051 0.008

-0.272 -0.051 -0.046 -0.055 -0.060 -0.060

45.55

0.070

0.095 -0.219 -0.328 -0.293 -0.252 0.003

0.012

0.000 -0.001 -0.003 0.000

0.002

-0.244 -0.263 -0.277 -0.259 -0.235 -0.235

0.001

0.002

0.002

0.002

0.002

0.033 -0.158 -0.003 -0.235 -0.347 -0.259 0.018

0.004

0.001 -0.008 0.002

0.006

0.002 -0.004

0.042 -0.224 -0.294 -0.244 -0.158 -0.076 0.164

0.031

0.000

0.000

0.002

0.002

0.003 -0.001

-0.223 -0.059 -0.076 0.028 -0.043 -0.001

0.044

0.005

0.002

0.002

0.002 -0.001

-0.001 -0.006 -0.011 -0.272 -0.157 -0.081 -0.103 0.001

0.005

0.009

0.006 -0.002 -0.003 -0.002

-0.097 0.018

0.005

0.004

0.001 -0.001

0.002

0.003

0.002

0.001

0.001

0.012 -0.037

0.000

0.001

0.002

0.002

-0.028 -0.052 -0.085 -0.048 -0.033 -0.032

0.013

0.001

0.001

0.001

0.000

0.000

23.93

-0.317 -0.205 -0.123 -0.117 -0.072 -0.032 -0.021 0.023

0.009

0.006

0.003

0.001

0.000

0.000

23.61

-0.326 -0.200 -0.171 -0.149 -0.112 -0.079 -0.057 0.021

0.010

0.007

0.003

0.002

0.001

0.001

25.40

-0.311 -0.161 -0.122 -0.103 -0.086 -0.071 -0.052 0.020

0.005

0.003

0.002

0.001

0.002

0.002

20.18

-0.278 -0.061 -0.064 -0.092 -0.070 -0.040 -0.010 0.020

0.005

0.004

0.004

0.002

0.001

0.001

0.015 -0.064 0.056

0.010 -0.021 -0.021

0.015

0.006

0.004

0.006

0.002

0.002

0.047

0.023

0.021

0.008

0.004

0.002

0.001

0.001

-0.339 -0.118 -0.154 -0.153 -0.109 -0.092 -0.062 0.014

0.006

0.002

0.003

0.002

0.002

0.002

0.006

0.003

0.004

0.003

0.003

0.003

0.008

0.000

0.000

0.000

0.000

0.000

-0.435 -0.290 -0.253 -0.189 -0.163 -0.144 -0.160 0.008

0.005

0.004

0.003

0.002

0.002

-0.385 -0.325 -0.116 -0.099 -0.079 -0.079

0.058

0.028

0.015

0.006

0.002

0.002

-0.051 -0.049 -0.034 -0.070 -0.063 -0.075 -0.051 0.002

0.000

0.000

0.001

0.001

0.002

0.006

0.006

0.005

0.004

0.002

0.004 -0.001

18.98

-0.078 0.001 -0.032 -0.066 -0.039 -0.042 -0.070 0.003

0.000

0.000

0.001

0.001

0.002

0.004

21.09

-0.131 -0.104 -0.079 -0.079 -0.061 -0.052 -0.032 0.019

0.000

0.001

0.000

0.000

0.001

0.001

-0.125 -0.178 -0.136 -0.082

0.005

0.007

0.004

0.002

-0.002 -0.009 -0.015 -0.041

0.001

0.004

0.007

0.006

-0.205 -0.076 -0.079 -0.086 -0.080 -0.080

29.04

30.18

0.003

0.000

-0.255 -0.173 -0.176 -0.169 -0.130 -0.088 -0.074 0.008 0.073

0.043

0.055

0.119

0.024

0.152

0.005

0.166

0.027

0.003

0.215

0.001

0.027

0.004

0.045 -0.068 -0.094 0.067

0.002

0.002 0.001

0.007

0.002

0.002

0.003

0.002

0.002

-0.548 -0.323 -0.245 -0.170 -0.107 -0.120 -0.123 0.018

0.008

0.004

0.003

0.001

0.001

30.32

-0.072 -0.110 -0.089 -0.069 -0.029 -0.018

0.010

0.000

0.001

0.001

0.000 -0.001

15.87

-0.161 -0.087 -0.001 0.008

0.034

0.016

0.004

0.000

0.000

0.000

0.000

22.68

-0.172 -0.135 -0.111 -0.130 -0.127 -0.120

0.039

0.011

0.001

0.001

0.002

0.002

29.25

0.122

-0.002 -0.001 0.000

0.004

33.35

-0.356 -0.329 -0.302 -0.186

0.013

0.011

0.009

0.003

23.98

-0.296 -0.047 -0.098 -0.099 -0.269 -0.516 -0.566 0.010

0.007

0.002

0.000

0.004

0.007

0.008

27.12

-0.317 -0.194 -0.190 -0.133 -0.103 -0.078 -0.073 0.019

0.008

0.005

0.002

0.001

0.002

0.002

-0.106 -0.065 -0.053 -0.030

0.002

-0.060 -0.076 -0.092 -0.094

19.43

0.020

0.005 -0.112 -0.196

0.001

CARILLION PLC

Industrials

321.60

5.34%

15.05.2013

CARLB DC Equity DK0010181759

CARLSBERG AS-B

Consumer Staples

590.50

1.02%

24.03.2014

23.52

21.90

22.93

22.41

0.000

0.000

0.000

CCL LN Equity

GB0031215220

CARNIVAL PLC

Consumer Discretionary

2413.00

2.81%

22.05.2013

24.45

23.60

22.90

22.67

0.021

0.016

0.011

0.003

CA FP Equity

FR0000120172

CARREFOUR SA

Consumer Staples

21.24

3.11%

04.07.2013

30.85

31.60

34.89

28.46

31.03

31.98

30.67

-0.126 -0.127 -0.295 -0.123 -0.062 -0.106 -0.057 0.020

0.007

0.003

0.004

0.001

0.001

0.002

CO FP Equity

FR0000125585

CASINO GUICHARD PERRACHON

Consumer Staples

78.04

3.84%

21.05.2014

20.31

20.61

20.75

21.20

22.57

22.02

23.64

-0.184 -0.183 -0.084 -0.093 -0.096 -0.110 -0.089 0.020

0.010

0.005

0.003

0.001

0.002

0.001

CAST SS Equity

SE0000379190

CASTELLUM AB

Financials

97.20

4.06%

21.03.2014

CGL LN Equity

BMG196F11004

CATLIN GROUP LTD

Financials

498.30

6.02%

21.08.2013

CLS1 GY Equity

DE000CLS1001

CELESIO AG

Health Care

13.82

2.68%

17.05.2013

21.19

20.38

21.35

22.78

23.92

24.45

24.63

-0.084 -0.116 -0.065 -0.053 -0.021 0.005

0.034

0.005

0.002

0.002

0.001

0.000 -0.001

CNA LN Equity CHR DC Equity

GB00B033F229 DK0060227585

CENTRICA PLC CHR HANSEN HOLDING A/S

Utilities Materials

346.50 198.20

4.86% 1.69%

24.04.2013 27.11.2013

17.43

15.17

14.79

15.37

15.44

15.44

0.002

0.003

0.005

0.003

0.003

0.003

-0.114 -0.158 -0.086 -0.087 -0.095 -0.095

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.032


25.02.2013

Option Implied Volatility Skew Parameters by Terms: IVt = atx + btx2 + ct

At The Money Implied Volatilities by Terms

Stoxx 600 Index

Ticker

ISIN

CDI FP Equity FR0000130403 SGO FP Equity FR0000125007 CFR VX Equity CH0045039655 CGG FP Equity FR0000120164 ML FP Equity FR0000121261 CLN VX Equity CH0012142631 CBG LN Equity GB0007668071 CNP FP Equity FR0000120222 COB LN Equity GB00B07KD360 EEEK GA Equity GRS104003009 COFB BB Equity BE0003593044 COLOB DC Equity DK0060448595 COLR BB Equity BE0974256852 CBK GY Equity DE0008032004 CPG LN Equity GB0005331532 CON GY Equity DE0005439004 CORA NA Equity NL0000288967 ACA FP Equity FR0000045072 CSGN VX Equity CH0012138530 CRH ID Equity IE0001827041 CRDA LN Equity GB0002335270 DMGT LN Equity GB0009457366 DAI GY Equity DE0007100000 BN FP Equity FR0000120644 DANSKE DC EquityDK0010274414 DSY FP Equity FR0000130650 CPR IM Equity IT0003849244 DCC ID Equity IE0002424939 DLAR LN Equity GB00B3DGH821 DE NA Equity NL0010157558 DEB LN Equity GB00B126KH97 DELB BB Equity BE0003562700 DL NA Equity NL0009294552 DLN LN Equity GB0002652740 DBK GY Equity DE0005140008 DB1 GY Equity DE0005810055 DEQ GY Equity DE0007480204 LHA GY Equity DE0008232125 DPW GY Equity DE0005552004 DTE GY Equity DE0005557508 DWNI GY Equity DE000A0HN5C6 DGE LN Equity GB0002374006 DIA SQ Equity ES0126775032 DNB NO Equity NO0010031479 DRX LN Equity GB00B1VNSX38 SMDS LN Equity GB0008220112 DSV DC Equity DK0060079531 DUFN SE Equity CH0023405456 EOAN GY Equity DE000ENAG999 EAD FP Equity NL0000235190 EZJ LN Equity GB00B7KR2P84 EBRO SQ Equity ES0112501012 EDEN FP Equity FR0010908533 EDP PL Equity PTEDP0AM0009 FGR FP Equity FR0000130452 ELN ID Equity IE0003072950 EDF FP Equity FR0010242511 ECM LN Equity GB0003096442 ELUXB SS Equity SE0000103814 EKTAB SS Equity SE0000163628 ELM LN Equity GB0002418548 ELI1V FH Equity FI0009007884 EMSN SE Equity CH0016440353 ENG SQ Equity ES0130960018 ELE SQ Equity ES0130670112 EGPW IM Equity IT0004618465 ENEL IM Equity IT0003128367 ENI IM Equity IT0003132476 EBS AV Equity AT0000652011 EI FP Equity FR0000121667 MAU FP Equity FR0000051070 ENRC LN Equity GB00B29BCK10 RF FP Equity FR0000121121 ECMPA NA Equity NL0000288876 ETL FP Equity FR0010221234 EVR LN Equity GB00B71N6K86 EXO IM Equity IT0001353140 EXPN LN Equity GB00B19NLV48 FER SQ Equity ES0118900010 FI IM Equity IT0004644743 F IM Equity IT0001976403 FLTR LN Equity GB00B0744359 FNC IM Equity IT0003856405 FGP LN Equity GB0003452173 FLS DC Equity DK0010234467 FHZN SE Equity CH0010567961 FDR FP Equity FR0000064578 FUM1V FH Equity FI0009007132 FTE FP Equity FR0000133308 FRA GY Equity DE0005773303 FNTN GY Equity DE000A0Z2ZZ5 FME GY Equity DE0005785802 FRE GY Equity DE0005785604 FRES LN Equity GB00B2QPKJ12 FPE3 GY Equity DE0005790430 FUR NA Equity NL0000352565 GFS LN Equity GB00B01FLG62 GALN SE Equity CH0015536466 GALP PL Equity PTGAL0AM0009 GAM SE Equity CH0102659627 GAS SQ Equity ES0116870314 GSZ FP Equity FR0010208488 G1A GY Equity DE0006602006 GEBN VX Equity CH0030170408 GFC FP Equity FR0010040865 GTO FP Equity NL0000400653 FI/N SE Equity CH0001752309 GXI GY Equity DE000A0LD6E6 GETIB SS Equity SE0000202624 GIVN VX Equity CH0010645932 GJF NO Equity NO0010582521 GKN LN Equity GB0030646508 GSK LN Equity GB0009252882 GLEN LN Equity JE00B4T3BW64 GN DC Equity DK0010272632 GPOR LN Equity GB00B01FLL16 GNK LN Equity GB00B0HZP136 GRF SQ Equity ES0171996012 GBLB BB Equity BE0003797140 GET FP Equity FR0010533075 GIB GY Equity DE000GSW1111 HLMA LN Equity GB0004052071 HMSO LN Equity GB0004065016 HNR1 GY Equity DE0008402215 HL/ LN Equity GB00B1VZ0M25 HAV FP Equity FR0000121881

Name CHRISTIAN DIOR COMPAGNIE DE SAINT-GOBAIN CIE FINANCIERE RICHEMON-BR A CIE GENERALE DE GEOPHYSIQUE MICHELIN (CGDE) CLARIANT AG-REG CLOSE BROTHERS GROUP PLC CNP ASSURANCES COBHAM PLC COCA-COLA HELLENIC BOTTLING COFINIMMO COLOPLAST-B COLRUYT SA COMMERZBANK AG COMPASS GROUP PLC CONTINENTAL AG CORIO NV CREDIT AGRICOLE SA CREDIT SUISSE GROUP AG-REG CRH PLC CRODA INTERNATIONAL PLC DAILY MAIL&GENERAL TST-A NV DAIMLER AG-REGISTERED SHARES DANONE DANSKE BANK A/S DASSAULT SYSTEMES SA DAVIDE CAMPARI-MILANO SPA DCC PLC DE LA RUE PLC DE MASTER BLENDERS1753 NV DEBENHAMS PLC DELHAIZE GROUP DELTA LLOYD NV DERWENT LONDON PLC DEUTSCHE BANK AG-REGISTERED DEUTSCHE BOERSE AG DEUTSCHE EUROSHOP AG DEUTSCHE LUFTHANSA-REG DEUTSCHE POST AG-REG DEUTSCHE TELEKOM AG-REG DEUTSCHE WOHNEN AG-BR DIAGEO PLC DISTRIBUIDORA INTERNACIONAL DNB ASA DRAX GROUP PLC DS SMITH PLC DSV A/S DUFRY AG-REG E.ON SE EADS NV EASYJET PLC EBRO FOODS SA EDENRED EDP-ENERGIAS DE PORTUGAL SA EIFFAGE ELAN CORP PLC EDF ELECTROCOMPONENTS PLC ELECTROLUX AB-SER B ELEKTA AB-B SHS ELEMENTIS PLC ELISA OYJ EMS-CHEMIE HOLDING AG-REG ENAGAS SA ENDESA SA ENEL GREEN POWER SPA ENEL SPA ENI SPA ERSTE GROUP BANK AG ESSILOR INTERNATIONAL MAUREL ET PROM EURASIAN NATURAL RESOURCES EURAZEO EUROCOMMERCIAL PROPERTIE-CV EUTELSAT COMMUNICATIONS EVRAZ PLC EXOR SPA EXPERIAN PLC FERROVIAL SA FIAT INDUSTRIAL FIAT SPA FILTRONA PLC FINMECCANICA SPA FIRSTGROUP PLC FLSMIDTH & CO A/S FLUGHAFEN ZUERICH AG-REG FONCIERE DES REGIONS FORTUM OYJ FRANCE TELECOM SA FRAPORT AG FREENET AG FRESENIUS MEDICAL CARE AG & FRESENIUS SE & CO KGAA FRESNILLO PLC FUCHS PETROLUB AG -PREF FUGRO NV-CVA G4S PLC GALENICA AG-REG GALP ENERGIA SGPS SA GAM HOLDING AG GAS NATURAL SDG SA GDF SUEZ GEA GROUP AG GEBERIT AG-REG GECINA SA GEMALTO FISCHER (GEORG)-REG GERRESHEIMER AG GETINGE AB-B SHS GIVAUDAN-REG GJENSIDIGE FORSIKRING ASA GKN PLC GLAXOSMITHKLINE PLC GLENCORE INTERNATIONAL PLC GN STORE NORD A/S GREAT PORTLAND ESTATES PLC GREENE KING PLC GRIFOLS SA GROUPE BRUXELLES LAMBERT SA GROUPE EUROTUNNEL SA - REGR GSW IMMOBILIEN AG HALMA PLC HAMMERSON PLC HANNOVER RUECKVERSICHERU-REG HARGREAVES LANSDOWN PLC HAVAS SA

GICS_SECTOR_NAME

ATM Ref

Consumer Discretionary 129.55 Industrials 32.08 Consumer Discretionary 74.75 Energy 20.57 Consumer Discretionary 67.75 Materials 14.12 Financials 1053.00 Financials 11.97 Industrials 234.20 Consumer Staples 19.60 Financials 90.24 Health Care 297.60 Consumer Staples 36.11 Financials 1.48 Consumer Discretionary 799.00 Consumer Discretionary 88.53 Financials 35.14 Financials 7.55 Financials 26.39 Materials 16.23 Materials 2557.00 Consumer Discretionary 695.50 Consumer Discretionary 45.80 Consumer Staples 54.05 Financials 107.80 Information Technology 87.28 Consumer Staples 5.99 Industrials 26.87 Industrials 942.00 Consumer Staples 9.09 Consumer Discretionary 96.15 Consumer Staples 37.37 Financials 14.14 Financials 2152.00 Financials 36.95 Financials 50.55 Financials 31.60 Industrials 15.19 Industrials 17.33 Telecommunication Services 8.33 Financials 14.28 Consumer Staples 1970.00 Consumer Staples 6.00 Financials 85.30 Utilities 627.00 Materials 237.70 Industrials 139.90 Consumer Discretionary 126.90 Utilities 13.17 Industrials 35.81 Industrials 987.50 Consumer Staples 14.66 Industrials 26.17 Utilities 2.28 Industrials 33.91 Health Care 8.54 Utilities 14.96 Information Technology 261.00 Consumer Discretionary 164.30 Health Care 100.30 Materials 232.00 Telecommunication Services 16.28 Materials 263.75 Utilities 18.41 Utilities 17.18 Utilities 1.45 Utilities 2.93 Energy 17.83 Financials 24.03 Health Care 76.84 Energy 14.21 Materials 369.10 Financials 42.67 Financials 29.48 Consumer Discretionary 27.40 Materials 276.00 Financials 22.09 Industrials 1088.00 Industrials 11.94 Industrials 9.40 Consumer Discretionary 4.22 Materials 626.00 Industrials 3.92 Industrials 192.20 Industrials 393.20 Industrials 424.25 Financials 63.35 Utilities 14.87 Telecommunication Services 7.65 Industrials 45.19 Telecommunication Services 16.35 Health Care 52.63 Health Care 91.10 Materials 1492.00 Materials 60.01 Energy 36.96 Industrials 287.00 Health Care 540.00 Energy 12.00 Financials 16.20 Utilities 15.32 Utilities 14.96 Industrials 27.41 Industrials 223.30 Financials 85.94 Information Technology 69.44 Industrials 405.50 Health Care 44.31 Health Care 197.60 Materials 1099.00 Financials 91.05 Consumer Discretionary 253.80 Health Care 1476.50 Materials 379.00 Health Care 104.90 Financials 490.00 Consumer Discretionary 703.00 Health Care 27.16 Financials 61.34 Industrials 6.47 Financials 31.16 Information Technology 498.00 Financials 500.50 Financials 59.08 Financials 848.50 Consumer Discretionary 4.89

Dividend Yield

Next ExDividend Date

2.24% 3.87% 0.94%

29.11.2013 09.06.2014 09.09.2013

3.54% 2.34% 4.18% 6.43% 3.76%

13.05.2014 10.06.2013 20.03.2013 03.07.2013 01.05.2013 25.06.2014 30.04.2013 12.12.2013 27.09.2013 23.05.2014 26.06.2013 16.05.2013 22.04.2013 26.05.2014 09.05.2014 06.03.2013 01.05.2013 29.05.2013 10.04.2014 06.05.2014 19.03.2014 14.06.2013 20.05.2013 22.05.2013 03.07.2013

7.20% 1.68% 2.71% 2.93% 2.26% 7.86% 0.38% 3.87% 2.39% 2.73% 4.80% 2.68% 0.89% 1.24% 3.20% 4.49% 3.74% 4.60% 7.29% 1.56% 2.03% 4.15% 3.64%

8.36% 1.76% 2.18% 3.41% 3.13% 8.11% 3.54%

05.06.2013 29.05.2013 21.05.2013 15.05.2013 23.05.2014 15.05.2014 21.06.2013 09.05.2014 30.05.2013 17.05.2013 06.06.2013 04.09.2013 16.07.2013 25.04.2014 25.09.2013 02.10.2013 24.03.2014 10.05.2013 09.05.2014 04.06.2013 26.02.2014 10.01.2014 27.05.2013 13.05.2013 26.04.2013

8.36% 4.50% 3.96% 1.40% 2.27% 7.99%

12.12.2013 19.06.2013 26.03.2014 05.09.2013 01.05.2013 26.03.2014

6.34% 4.37% 2.02% 4.95% 6.11% 1.46% 1.28% 2.82% 2.06% 2.81% 6.82% 4.01% 7.18% 1.59% 2.16% 3.77% 2.39%

04.07.2013 02.07.2013 20.05.2013 24.06.2013 23.09.2013 22.05.2013 24.05.2013 17.06.2013 27.03.2013 16.05.2013 31.10.2013 14.11.2013 05.06.2013 24.06.2013 19.06.2013 12.12.2013 21.04.2014 21.04.2014 25.09.2013 20.05.2013 10.07.2013 07.04.2014 30.04.2013 03.05.2013 10.04.2014 05.09.2013 03.06.2013 24.05.2013 17.05.2013 20.05.2013 24.04.2013 12.05.2014 10.05.2013 08.05.2013 09.05.2013 21.05.2013 19.04.2013 30.05.2013 24.04.2013 22.04.2014 08.04.2013 19.04.2013 28.05.2013 25.03.2013 22.04.2014 24.03.2014 26.03.2014 25.04.2014 24.04.2013 08.05.2013 15.05.2013 21.03.2014 29.05.2013 07.08.2013 02.07.2013 25.04.2013 21.05.2013 19.06.2013 17.07.2013 13.03.2013 08.05.2013 11.09.2013 15.05.2013

4.33% 8.40% 1.82% 2.39% 2.17% 2.46% 2.73% 2.94% 0.89%

2.04% 11.11% 2.29% 2.36% 6.63% 6.72% 7.19% 2.77% 7.34% 1.41% 1.17% 2.48% 2.17% 4.06% 3.17% 1.67% 2.20% 3.09% 6.06% 10.03% 2.01% 2.91% 5.12% 0.55% 2.96% 1.47% 2.10% 3.28% 7.52% 2.99% 5.42% 2.77% 0.47% 1.78% 3.81% 0.81% 4.37% 1.55% 2.89% 2.15% 3.52% 4.74% 3.16% 2.66%

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M 25.96 27.36 23.79 36.16 28.26 25.59

26.19 26.80 24.08 33.20 27.40 22.42

26.18 27.18 25.46 32.31 27.81 22.12

26.56 28.59 25.68 31.57 28.22 24.12

26.98 28.78 26.42 31.22 28.40 25.83

26.98 29.70 26.82 31.11 26.85 26.19

29.19

27.75

26.31

25.27

24.66

24.66

-0.202 -0.156 -0.110 -0.101 -0.113 -0.113

11.71

11.76

13.04

13.31

13.22

14.68

-0.026 -0.011 -0.020 0.006 -0.030 -0.057

17.44 33.66 17.31 26.40 17.67 40.26 27.26 30.89

17.43 34.55 15.71 25.24 18.55 37.97 27.09 27.56

17.47 35.07 16.17 25.17 17.24 39.15 30.44 27.81

18.19 33.75 16.79 26.50 18.19 37.04 29.80 28.90

19.07 35.35 16.91 27.04 19.28 36.17 27.21 29.59

19.07 37.36 16.91 27.00 19.28 32.30 26.13 30.10

-0.148 -0.303 -0.078 -0.272 -0.199 -0.203 -0.324 -0.056

-0.083 -0.180 -0.054 -0.110 -0.163 -0.158 -0.260 -0.100

-0.085 -0.015 -0.105 -0.059 -0.017 -0.115 -0.368 -0.094

-0.077 -0.056 -0.099 -0.093 -0.112 -0.107 -0.344 -0.133

-0.062 -0.093 -0.063 -0.053 -0.101 -0.093 -0.291 -0.105

24.62 19.30 26.71 19.90 17.95 26.62

24.34 19.31 25.96 19.78 17.90 23.46

24.73 18.75 25.00 19.66 17.93 22.75

24.96 18.87 27.31 20.42 17.94 20.95

25.11 18.85

25.03 18.64

21.43 18.00 20.85

21.43 18.16 21.94

-0.163 -0.302 -0.262 -0.158 -0.249 -0.276

-0.043 -0.159 -0.179 -0.140 -0.042 -0.203

-0.070 -0.094 -0.121 -0.122 0.008 -0.154

-0.071 -0.125 -0.094 -0.098 0.004 -0.094

38.92

30.16

28.65

27.15

26.28

25.51

29.79 27.71

26.84 24.81

26.00 25.42

23.89 24.22

22.75 23.60

22.75 23.60

27.87 23.15 16.35 31.08 20.51 26.92 23.42 14.89 30.35 27.78

27.58 21.08 17.85 28.63 19.00 22.32 22.76 15.09 29.14 27.75

28.66 20.90 18.71 28.90 18.82 21.75 23.04 14.85 28.10 26.73

29.28 20.88 18.37 28.37 18.25 20.11 23.50 15.36 26.83 23.65

29.87 21.39 18.07 27.29 18.01 18.43 23.27 16.68 24.60

30.97 21.79 18.13 27.10 18.09 17.29 23.22 16.72 24.29

31.88 21.71 18.63 26.87 19.09 16.11 23.05 16.20 24.09

24.48 26.69 27.74 29.39

22.58 26.90 25.26 26.45

22.46 27.47 26.02 26.31

23.51 27.08 24.78 26.87

27.44 23.86 26.59

27.91 23.97 26.53

23.78 25.30

32.38 23.07

29.76 22.92

28.56 21.96

26.46 20.77

24.75 22.32

23.90 23.82

36.40 47.86 24.89

36.03 44.82 23.78

37.13 41.92 24.35

37.27 39.06 24.20

37.06 39.83 24.55

38.07 39.95 21.89

21.80 35.10

22.54 35.10

23.96 35.10

25.11 35.10

26.34

26.34

18.57

17.91

18.88

19.26

23.08 29.43 34.09 31.47 23.27 37.04 21.98 25.95 51.37 30.86

23.03 28.62 30.84 28.31 21.38 34.12 19.60 25.97 49.33 30.08

22.96 28.02 32.52 28.37 21.99 35.31 19.97 26.00 46.88 27.78

22.80 26.69 32.57 27.88 21.10 34.50 19.70 26.62 43.56 31.63

22.69 25.36 32.75 26.71 20.17 36.27 19.96 26.46

21.96 24.90 32.75 26.47 20.36 42.59 19.78 27.07

31.43

20.65

20.56

20.56

20.57

21.50

25.30 18.55 28.69 29.57 43.71

22.92 18.33 28.81 28.70 42.88

22.85 18.11 28.86 28.69 41.70

23.04 18.80 28.08 29.19 40.31

51.96

45.78

44.50

41.85

27.82

27.10

27.72

27.85

16.80 23.15 29.85 21.89 25.27 17.46 19.39 34.71 21.70 45.76

17.03 21.23 27.76 20.50 25.50 15.74 17.54 31.81 21.97 37.72

17.92 22.36 27.57 20.20 22.95 15.94 17.63 29.43 22.29 33.54

28.14

28.07

22.32 26.40 28.33 21.25 16.67 15.31 27.89 21.01 19.27 15.16 12.32 18.84

19.44 25.16 24.66 21.23 14.97 6.00 27.66 22.02 19.97 19.69 12.63 16.82

17.94 23.20 26.82

28.38

26.33

37.43 27.41 19.28 32.80 26.10

24.50 21.13

25.34

24.88

22.51

-0.071 -0.130 -0.266 -0.185 -0.196 -0.162

-0.052 -0.147 -0.153 -0.119 -0.204 -0.282

-0.033 -0.153 -0.122 -0.111 -0.183 -0.255

-0.035 -0.104 -0.146 -0.133 -0.122 -0.077

-0.065 -0.110 -0.112 -0.118 -0.136 -0.068

0.009 0.006 0.002 0.000 0.008 0.009

0.006 0.006 0.001 0.001 0.004 0.006

0.002 0.002 0.002 0.002 0.002 0.003

0.002 0.001 0.001 0.002 0.002 0.001

0.002 0.000 0.001 0.002 0.001 0.000

0.022

0.015

0.009

0.002

0.001

0.001

0.010

0.000

0.000

0.001

0.000

0.000

0.029 -0.043 0.051 0.001 0.003 0.016 -0.101 0.030 0.079 0.009 -0.217 0.023 0.012

0.003 0.012 0.003 0.003 0.006 0.008 0.009 0.003

0.003 0.003 0.001 0.001 0.002 -0.001 0.000 -0.001 -0.001 0.004 0.003 0.002 0.002 0.001 0.002 0.001 0.001 0.001 0.006 0.003 0.002 0.002 0.002 0.002 0.000 0.001 0.007 0.008 0.005 0.003 0.003 0.003 0.003 0.002 0.002 0.002 0.002

-0.057 -0.026 0.006 0.018 -0.079 -0.069 -0.037 0.030 0.047 -0.076 -0.076 0.024 0.005 0.008 0.012 -0.093 -0.072 0.012

0.007 0.011 0.014 0.017 0.002 0.004

0.004 0.008 0.004 0.010 0.000 0.002

0.002 0.003 0.000 0.002 0.000 0.003

0.001 0.002

0.002 0.002

0.001 0.000 0.002

0.001 0.000 0.001

0.072 -0.099 -0.051 -0.047 -0.047 -0.046 -0.032 0.007

0.002

0.000

0.000

0.000

0.001

-0.268 -0.156 -0.099 -0.036 -0.056 -0.056 -0.227 -0.156 -0.167 -0.078 -0.068 -0.068

0.019 0.021

0.007 0.004

0.005 0.003

0.004 0.003

0.002 0.002

0.002 0.002

0.003 0.003 0.003 0.002 0.004 0.007 0.002 0.004 0.004 0.004

0.001 0.001 0.001 0.002 0.001 0.001 0.000 -0.001 0.000 0.001 0.000 0.000 0.002 0.001 0.001 0.004 0.005 0.006 0.003 0.004 0.004 0.002 0.002 0.002 0.002 0.002 0.002

-0.122 -0.056 -0.050 -0.053 -0.054 0.017 -0.103 -0.087 -0.131

-0.065 0.013 -0.047 -0.060 0.019 -0.089 0.018 -0.110 0.000 -0.080 0.009 -0.052 -0.036 0.029

-0.062 -0.104 -0.063 -0.017 -0.101 0.056 -0.253 -0.108

-0.087 -0.037 -0.009 0.021 -0.023 0.066 -0.105 -0.063 -0.128

0.001

0.000

0.002 0.001

0.001

-0.256 -0.145 -0.170 -0.277 -0.202 -0.223 -0.236 -0.243 -0.174 -0.280

-0.255 -0.063 -0.123 -0.165 -0.151 -0.101 -0.185 -0.189 -0.189 -0.203

-0.234 -0.023 -0.114 -0.116 -0.137 0.054 -0.157 -0.113 -0.167 -0.124

-0.167 -0.069 -0.108 -0.100 -0.072 0.014 -0.108 -0.133 -0.207 -0.127

-0.068 -0.023 -0.063 0.069 0.004 0.042 -0.089 -0.059 -0.113

0.021 0.018 0.033 0.018 0.031 0.027 0.021 0.009 0.005 0.052

0.009 0.004 0.004 0.007 0.011 0.011 0.005 0.007 0.005 0.025

0.006 0.002 0.004 0.004 0.008 0.011 0.003 0.004 0.004 0.012

-0.093 -0.173 -0.236 -0.146

-0.064 -0.220 -0.086 -0.147

-0.029 -0.166 0.085 -0.132

-0.070 -0.144 -0.097 -0.078 0.003 0.020 0.087 0.102 -0.059 -0.015 -0.011 -0.025

0.019 0.006 0.023 0.009

0.003 0.002 0.006 0.007

0.001 -0.001 0.001 0.002 0.000 0.005 0.003 0.002 0.005 0.002 0.001

-0.200 -0.113 -0.108 -0.153 -0.106 -0.092 -0.065 0.005 -0.179 -0.065 -0.029 -0.060 -0.066 -0.059 0.016

0.000 0.003

0.000 0.002

0.000 -0.001 -0.001 -0.001 0.005 0.003 0.001

-0.077 0.002 -0.006 0.008 0.005 -0.003 0.002 -0.011 -0.137 -0.129 -0.130 -0.099 -0.096 0.006 -0.195 -0.123 -0.113 -0.088 -0.046 0.036 -0.024 0.024

0.000 0.003 0.007

0.000 0.001 0.005

0.000 0.002 0.004

0.000 0.001 0.001

0.000 0.001 0.003

-0.250 -0.120 -0.149 -0.105 -0.082 -0.082 0.000 0.000 0.000 0.000

0.044 0.000

0.021 0.000

0.009 0.000

0.004 0.000

0.001

0.001

0.035

-0.084 0.168

0.022 -0.031

31.95

-0.014 -0.038 -0.232 -0.461 -0.303 -0.251 -0.206 -0.049 -0.178 -0.124

-0.087 -0.027 -0.052 -0.307 -0.274 -0.028 -0.187 -0.009 -0.175 0.158

21.15

27.07 29.02 39.60

26.54 29.02 39.57

41.04

41.04

18.56 21.93 26.54 20.82 19.79 16.80 17.28 26.05 23.02 31.68

18.09

18.89

24.06 21.46 19.08 17.52 18.48

20.37 21.73 18.50 17.80 18.46

21.70 21.48 17.69 18.17 18.52

23.45 30.87

24.02 30.87

24.00 30.87

28.54

29.11

29.15

29.34

-0.365 -0.253 -0.172 -0.125 -0.113 -0.112

20.16 24.64 24.78 22.19 15.64 9.83 28.52 22.11 19.73 19.50 13.06 16.15

21.85 24.43 24.35 23.98 16.25 20.37 27.66 22.67 20.78 20.63 14.22 13.53

23.74 24.41 22.46 25.67 16.90 19.73 27.44 23.54 22.38

24.37 23.04 21.57 27.64 17.25 20.60 27.82 24.71 22.63

15.04

15.85

-0.392 -0.037 -0.129 -0.204 -0.189 -0.013 -0.110 -0.189 -0.343 -0.480 -0.339 -0.288

16.33 24.00 24.72

15.98 24.35 24.49

15.75 24.02 25.15

16.01 24.63

15.11 24.59

28.15 13.34 23.07 19.55

26.72 12.77 23.30 19.55

26.17 10.92 23.77 19.36

24.80 11.42 21.25 20.01

23.17 12.45 22.37 20.09

20.93

19.20

18.98

20.81

21.59

38.66

38.14

38.67

38.05

0.000 0.001 0.001

0.000 0.001

0.002

0.014

0.001

0.002

-0.103 0.042 0.018 -0.201 -0.163 -0.047 -0.122 -0.035 -0.115 -0.001

-0.114 0.073 0.013 -0.140 -0.128 0.363 -0.094 -0.001

0.000 0.003 0.008 -0.203 0.014 -0.123 0.024 0.044 -0.060 0.018 0.021 0.007 -0.002 -0.009 0.005

0.002 0.001 0.004 0.008 0.009 0.007 0.008 0.002 0.006 0.000

0.001 0.000 0.000 0.005 0.006 0.002 0.005 0.000 0.005 0.001

0.001 0.001 0.002 0.001 0.000 0.001 0.000 0.000 0.000 0.002 0.001 0.002 0.003 0.002 0.001 0.003 -0.002 -0.010 0.003 0.002 0.001 0.001 0.000 -0.001 0.001 0.000 0.000 0.001

-0.193 -0.008 0.009

0.008

0.003 -0.010

0.014

0.000

0.000

0.000

0.000

0.000

-0.168 -0.373 -0.029 -0.262 -0.108

-0.127 -0.076 -0.096 -0.125 -0.122 -0.109 -0.159 -0.133 -0.133 -0.169 -0.165 -0.216 -0.277

0.010 0.009 0.000 0.020 0.012

0.004 0.007 0.001 0.011 0.006

0.004 0.005 0.000 0.003 0.004

0.001 0.002 0.000 0.001 0.002

0.000 0.001 0.001

0.000 0.001 0.001

-0.093 -0.165 -0.125 -0.161 -0.104 -0.104

0.007

0.002

0.002

0.004

0.002

0.002

-0.100 -0.058 -0.054 -0.038

0.007

0.000 -0.001 0.000

0.013 0.024 0.025 0.027 0.018 0.028 0.021 0.005 0.011 0.009

0.000 -0.001 -0.001 0.003 0.000 0.002 0.010 0.006 0.001 0.004 0.003 0.003 0.003 0.003 0.007 0.011 0.004 0.002 0.002 0.002 0.003 0.005 0.004 -0.002 0.001 0.002 0.002 0.005 0.004 0.004

0.000

0.001

0.000 0.001 0.005 0.002 0.001

0.004 0.002 0.009 0.003 0.001

0.001 0.002 0.010 0.003 0.001

0.001 0.002

0.001 0.002

0.001 0.002

0.007

0.003

0.003

0.001

0.002

0.017 0.008 0.001 0.009 0.020 -0.063 0.023 0.021 0.006 0.009 0.013 -0.050 0.014 0.046 -0.066 -0.048 0.016 0.058

0.008 0.002 0.006 0.006 0.009 0.005 0.000 0.003 0.004 0.008 0.007 0.043

0.004 0.004 0.003 0.000 0.000 0.000 0.004 0.002 0.002 0.004 0.002 0.001 0.006 0.005 0.003 0.001 -0.002 0.000 0.000 0.001 0.000 0.002 0.002 0.001 0.002 0.002 0.001 0.001 0.002 0.002 0.005 0.003 0.032 0.012

0.003 0.001 -0.001 0.003 0.003 0.000 0.000 0.003 0.000 0.000 0.000 0.001 0.001

14.39 24.82

-0.204 -0.181 -0.174 -0.134 -0.096 -0.064 -0.046 0.005 -0.170 -0.171 -0.143 -0.103 -0.062 -0.064 -0.062 0.027 -0.248 -0.248 -0.203 -0.078 0.044

0.006 0.002 0.013

0.006 0.001 0.009

0.004 0.000 0.002

0.002 0.001

0.002 0.001

0.002 0.001

22.83 12.45 21.24 20.71

22.80

-0.118 -0.102 0.003 -0.112 0.032 0.029 0.022 0.010 0.018 0.017

0.002 0.008 0.001 0.000

0.001 0.004 0.001 0.000

0.002 0.007 0.003 0.000

0.002 0.002 0.002 0.000

0.002 0.002 0.006 0.000

0.001

20.52

-0.093 -0.169 -0.211 -0.105

22.20

22.20

-0.233 -0.119 -0.064 -0.110 -0.095 -0.078 -0.051 0.024

0.007

0.004

0.004

0.001

0.001

0.001

-0.185 -0.110 -0.037 0.058

0.013

0.007

0.001

22.80 24.66 25.04 20.05 19.65

26.96 37.90

24.30 20.06 27.65

22.80

-0.018 -0.176 -0.216 -0.164 -0.293 -0.065 -0.123 -0.508 -0.200 -0.181

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

-0.070 -0.037 -0.177 -0.325 -0.334 -0.087 -0.228 -0.021 -0.177 0.035

-0.139 -0.268 -0.062 -0.235 -0.097

0.004 -0.066 -0.134 -0.178 -0.160 -0.054 -0.081 -0.422 -0.022 -0.095

-0.139 -0.079 -0.126 -0.151 -0.111 0.321 -0.002 -0.095 -0.130 0.006 -0.127 -0.108

-0.081 -0.032 -0.190 -0.036

-0.130 -0.163 -0.054 -0.138 -0.142

0.006 -0.097 -0.184 -0.135 -0.067 -0.041 -0.042 -0.343 -0.046 0.028

-0.058 -0.021 -0.047 -0.122 -0.122 0.370 -0.033 -0.063 -0.091 0.000 -0.034 0.065

-0.073 -0.051 -0.237 0.021

-0.001 -0.053 0.061 -0.124 0.038 -0.030 -0.051 -0.102 -0.044 0.005

-0.096 -0.019 -0.066 -0.106 -0.144 0.031 -0.037 -0.065 -0.083 -0.080 -0.090 0.139

-0.130 -0.122 -0.034 0.048

-0.058 0.064 0.013 -0.137 -0.140 0.580 -0.075 0.031

0.005 0.102

-0.018 -0.048 0.015 -0.090 0.019 -0.030 -0.039

0.061 -0.092 0.034 -0.008 -0.034

0.050 -0.083 0.060 -0.004 -0.020

-0.069 -0.079 -0.072 0.000 0.000 0.000

-0.057 -0.037 -0.007 -0.080 -0.119 -0.009 0.000 -0.060 -0.076

-0.133 -0.112 0.000 0.007

-0.026 -0.015 0.002 -0.079 -0.113 -0.043 0.007 -0.061 -0.066

0.020

0.002

0.000 -0.001 0.002 0.002 0.002

0.000 0.001

0.002

0.000


25.02.2013

Option Implied Volatility Skew Parameters by Terms: 2 IVt = atx + btx + ct

ATM2 ATM2 ATM2 ATM2 ATM2 ATM2 ATM2 Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M

ATM2 Ref

Dividend Yield

Next ExDividend Date

HAS LN Equity

GB0004161021

HAYS PLC

Industrials

96.60

2.59%

06.03.2013

HEI GY Equity

DE0006047004

HEIDELBERGCEMENT AG

Materials

52.18

0.96%

09.05.2013

27.06

25.79

26.48

27.98

28.21

28.43

28.50

-0.352 -0.211 -0.130 -0.152 -0.112 -0.087 -0.057 0.017

0.006

0.002

0.002

0.001

0.001

0.000

HEIO NA Equity

NL0000008977

HEINEKEN HOLDING NV

Consumer Staples

46.62

1.97%

26.08.2013

HEIA NA Equity

NL0000009165

HEINEKEN NV

Consumer Staples

55.18

1.67%

26.08.2013

19.29

18.44

19.44

18.91

19.18

19.21

19.25

-0.328 -0.194 -0.095 -0.137 -0.101 -0.081 -0.061 0.026

0.006

0.002

0.004

0.002

0.001

0.001

HELN SE Equity

CH0012271687

HELVETIA HOLDING AG-REG

Financials

379.00

4.49%

09.05.2013

22.11

22.08

21.40

22.54

22.86

23.48

-0.141 -0.092 -0.052 -0.075 -0.060 -0.065

0.009

0.002

0.002

0.001

0.001

0.001

HGG LN Equity

JE00B3CM9527

HENDERSON GROUP PLC

Financials

168.10

4.43%

01.05.2013

HEN3 GY Equity

DE0006048432

HENKEL AG & CO KGAA VORZUG

Consumer Staples

67.51

1.36%

16.04.2013

24.13

21.04

21.68

21.66

21.77

22.14

-0.210 -0.182 -0.140 -0.123 -0.103 -0.073 -0.054 0.014

0.007

0.005

0.002

0.001

0.001

HMB SS Equity

SE0000106270

HENNES & MAURITZ AB-B SHS

Consumer Discretionary

235.60

4.03%

24.04.2014

15.91

17.49

17.58

17.74

18.87

18.87

-0.210 -0.130 -0.050 -0.084 -0.088 -0.088

0.042

0.019

0.012

0.004

0.001

0.001

RMS FP Equity

FR0000052292

HERMES INTERNATIONAL

Consumer Discretionary

255.05

0.98%

31.05.2013

19.23

19.71

20.49

21.39

21.62

21.43

-0.123 -0.047 -0.043 -0.052 -0.036 -0.020

0.014

0.001

0.001

0.000

0.000

0.001

HEXAB SS Equity SE0000103699

HEXAGON AB-B SHS

Information Technology

182.10

1.30%

12.05.2014

25.21

25.21

25.21

25.21

0.000

0.000

0.000

0.000

0.000

HIK LN Equity

GB00B0LCW083

HIKMA PHARMACEUTICALS PLC

Health Care

869.50

1.14%

17.04.2013

HOT GY Equity

DE0006070006

HOCHTIEF AG

Industrials

54.95

2.27%

08.05.2013

33.20

30.61

30.28

29.78

29.75

30.25

29.95

-0.341 -0.231 -0.189 -0.162 -0.146 -0.142 -0.127 0.010

0.003

0.002

0.001

0.002

0.002

0.002

HOLN VX Equity

CH0012214059

20.99

21.44

21.41

-0.327 -0.129 -0.112 -0.142 -0.103 -0.067 -0.060 0.014

0.004

0.002

0.004

0.002

0.001

0.001

-0.340 -0.067 -0.059 -0.076

0.056

0.029

0.019

0.009 0.005

0.005

Ticker

Stoxx 600 Index

At The Money Implied Volatilities by Terms ISIN

Name

GICS_SECTOR_NAME

22.41

0.000

0.000

0.000

0.000

HOLCIM LTD-REG

Materials

73.50

1.50%

19.04.2013

21.47

19.79

19.76

20.22

HOLMB SS Equity SE0000109290

HOLMEN AB-B SHARES

Materials

192.70

4.67%

10.04.2014

15.57

14.86

16.30

16.61

HWDN LN Equity GB0005576813

HOWDEN JOINERY GROUP PLC

Consumer Discretionary

196.30

0.71%

22.05.2013

HSBA LN Equity

20.66

17.71

17.66

18.29

18.20

18.14

17.46

-0.425 -0.201 -0.122 -0.136 -0.066 -0.020 0.008

0.015

0.007

0.003

0.005

0.004

28.21

26.98

21.79

27.92

29.31

30.80

30.63

-0.056 0.004

0.237

0.010

0.008

0.002

0.001

0.001

0.000 -0.001 -0.001

0.136

0.188

0.008 -0.067 -0.067

0.090

0.046

0.028

0.012

0.003

0.003

27.34

-0.203 -0.150 -0.126 -0.071 -0.122 -0.092 -0.024 0.004

0.003

0.000 -0.001 0.001

0.002

HSBC HOLDINGS PLC

Financials

732.90

4.15%

20.03.2013

HUFVA SS Equity SE0000170375

HUFVUDSTADEN AB-A SHS

Financials

89.05

2.92%

21.03.2014

BOSS GY Equity

GB0005405286 DE000A1PHFF7

HUGO BOSS AG -ORD

Consumer Discretionary

88.81

3.66%

06.05.2013

HTG LN Equity

GB0004478896

0.023

0.044

0.070

HUNTING PLC

Energy

862.50

2.14%

05.06.2013

HUSQB SS Equity SE0001662230

HUSQVARNA AB-B SHS

Consumer Discretionary

39.65

3.78%

14.04.2014

24.18

23.21

24.64

24.19

27.93

27.93

IBE SQ Equity

ES0144580Y14

IBERDROLA SA

Utilities

3.83

7.84%

04.07.2013

30.66

29.80

29.74

28.57

27.41

26.56

ICAD FP Equity

FR0000035081

ICADE

Financials

68.01

5.35%

26.06.2013

15.99

15.66

13.21

13.52

17.22

20.51

IAP LN Equity

GB0033872168

ICAP PLC

Financials

352.70

6.61%

26.06.2013

26.92

26.56

26.20

26.31

IGG LN Equity

GB00B06QFB75

IG GROUP HOLDINGS PLC

Financials

496.40

4.53%

18.09.2013

ILD FP Equity

FR0004035913

ILIAD SA

Telecommunication Services 142.80

0.26%

04.06.2013

23.70

23.70

23.66

23.73

23.77

23.61

-0.149 0.001

0.006

0.009

0.010

IMG LN Equity

GB0009303123

IMAGINATION TECH GROUP PLC

Information Technology

520.50

NK FP Equity

FR0000120859

IMERYS SA

Materials

51.98

2.98%

06.05.2014

21.33

21.24

21.83

21.85

21.70

21.95

-0.162 0.008

0.003

0.003

0.000 -0.017

IMI LN Equity

GB0004579636

IMI PLC

Industrials

1218.00

2.78%

10.04.2013

IIA AV Equity

AT0000809058

IMMOFINANZ AG

Financials

3.29

4.56%

08.10.2013

26.53

20.99

19.52

22.09

22.87

19.45

-0.315 0.065 -0.039 0.040

0.480

0.030

0.004

IMT LN Equity

GB0004544929

IMPERIAL TOBACCO GROUP PLC

Consumer Staples

2359.00

4.83%

17.07.2013

17.11

17.20

17.29

18.09

0.001

INCH LN Equity

EU0009658145

INCHCAPE PLC

Consumer Discretionary

509.00

2.48%

15.05.2013

ITX SQ Equity

ES0148396015

INDITEX

Consumer Discretionary

104.20

1.92%

02.05.2013

29.40

26.97

26.55

27.05

26.78

26.42

26.21

-0.185 -0.140 -0.103 -0.149 -0.155 -0.153 -0.141 0.002

INDUA SS Equity SE0000190126

INDUSTRIVARDEN AB-A SHS

Financials

122.00

4.10%

08.05.2014

IFX GY Equity

DE0006231004

INFINEON TECHNOLOGIES AG

Information Technology

6.57

1.83%

07.03.2014

34.54

33.16

34.92

34.05

33.71

33.72

33.20

INF LN Equity

JE00B3WJHK45

INFORMA PLC

Consumer Discretionary

495.50

3.83%

14.08.2013

INGA NA Equity

NL0000303600

ING GROEP NV-CVA

Financials

34.39

32.90

32.92

32.80

33.07

35.45

34.82

ING FP Equity

FR0000125346

INGENICO

Information Technology

46.34

1.29%

13.05.2013

ISAT LN Equity

GB00B09LSH68

INMARSAT PLC

Telecommunication Services 648.00

4.70%

15.05.2013

IHG LN Equity

GB00B85KYF37

INTERCONTINENTAL HOTELS GROU

Consumer Discretionary

1935.00

2.22%

21.08.2013

20.63

20.45

20.27

20.91

ICP LN Equity

GB0004564430

INTERMEDIATE CAPITAL GROUP

Financials

389.80

5.18%

29.05.2013

IAG LN Equity

ES0177542018

INTL CONSOLIDATED AIRLINE-DI

Industrials

225.70

37.14

35.33

33.63

32.58

ITRK LN Equity

DE0005557508

INTERTEK GROUP PLC

Industrials

3358.00

1.25%

05.06.2013

ISP IM Equity

IT0000072618

INTESA SANPAOLO

Financials

1.39

3.59%

20.05.2013

46.83

41.10

41.01

37.60

INTU LN Equity

GB0006834344

INTU PROPERTIES PLC

Financials

350.90

4.56%

29.05.2013

ISYS LN Equity

GB00B19DVX61

INVENSYS PLC

Industrials

364.70

1.37%

19.06.2013

23.40

23.58

23.75

24.56

INVP LN Equity

GB00B17BBQ50

INVESTEC PLC

Financials

495.70

3.83%

24.07.2013

15.41

16.11

16.82

18.16

KINVB SS Equity

SE0000164626

INVESTMENT AB KINNEVIK-B SHS

Financials

151.70

4.28%

16.05.2014

18.77

14.11

15.38

17.03

INVEB SS Equity

SE0000107419

INVESTOR AB-B SHS

Financials

188.10

3.72%

16.04.2014

16.64

15.72

15.59

16.44

ITV LN Equity

GB0033986497

ITV PLC

Consumer Discretionary

120.00

2.25%

01.05.2013

27.14

24.49

22.17

20.07

SBRY LN Equity

GB00B019KW72

SAINSBURY (J) PLC

Consumer Staples

346.50

4.88%

15.05.2013

18.78

18.68

19.62

18.76

18.52

18.52

-0.124 -0.035 -0.052 0.004

0.007

JLT LN Equity

GB0005203376

JARDINE LLOYD THOMPSON GROUP

Financials

798.00

3.31%

03.04.2013

DEC FP Equity

FR0000077919

JC DECAUX SA

Consumer Discretionary

21.13

2.18%

16.05.2013

24.93

23.61

19.42

23.73

24.04

25.12

-0.150 0.009

0.052

JMT PL Equity

PTJMT0AE0001

JERONIMO MARTINS

Consumer Staples

16.46

1.95%

30.04.2013

JM SS Equity

SE0000806994

JM AB

Consumer Discretionary

151.00

4.47%

25.04.2014

WG/ LN Equity

GB00B5N0P849

WOOD GROUP (JOHN) PLC

Energy

807.50

1.50%

10.04.2013

JMAT LN Equity

GB00B70FPS60

JOHNSON MATTHEY PLC

Materials

2318.00

2.67%

12.06.2013

BAER VX Equity

CH0102484968

JULIUS BAER GROUP LTD

Financials

36.38

1.65%

11.04.2014

20.26

19.99

20.99

21.85

23.26

24.35

JUP LN Equity

GB00B53P2009

JUPITER FUND MANAGEMENT

Financials

341.10

JYSK DC Equity

DK0010307958

JYSKE BANK-REG

Financials

186.00

SDF GY Equity

DE000KSAG888

K+S AG-REG

Materials

36.05

3.88%

15.05.2013

24.34

21.64

22.13

21.84

22.18

22.65

KABN SE Equity

CH0011795959

KABA HOLDING AG-REG B

Industrials

408.25

2.20%

31.10.2013

15.36

15.56

15.61

15.52

14.26

14.00

KD8 GY Equity

DE000KD88880

KABEL DEUTSCHLAND HOLDING AG

Consumer Discretionary

68.74

3.64%

13.10.2014

18.16

18.35

18.61

18.67

18.12

17.59

KAZ LN Equity

GB00B0HZPV38

KAZAKHMYS PLC

Materials

693.00

1.52%

24.04.2013

40.42

39.65

38.41

36.57

KBC BB Equity

BE0003565737

KBC GROEP NV

Financials

29.10

3.44%

13.05.2015

34.44

33.88

34.21

33.30

33.44

33.44

KRA1V FH Equity FI0009004824

KEMIRA OYJ

KYG ID Equity

21.46

21.40

6.51

08.08.2013

06.03.2013

17.98

34.19

34.31

0.004

-0.007 -0.042 -0.078 -0.098

0.007

0.006

0.005

0.003

0.007

0.000

0.000

0.015 -0.001 0.000

Materials

11.20

4.73%

27.03.2014

KERRY GROUP PLC-A

Consumer Staples

41.11

0.91%

10.04.2013

21.17

20.19

19.93

20.51

KESKO OYJ-B SHS

Consumer Staples

24.36

4.93%

08.04.2014

KGF LN Equity

US78378X1072

KINGFISHER PLC

Consumer Discretionary

280.60

3.45%

01.05.2013

20.63

20.25

20.25

21.05

LI FP Equity

FR0000121964

15.22

15.92

15.97

15.97

15.67

16.28

0.000

0.001

0.000

0.000

0.000

0.000

0.000

0.000

0.001

0.008

0.007

0.000 -0.002

0.001

0.001

0.001

0.001

0.001

0.000

0.001

0.000

0.000

-0.283 -0.207 -0.202 -0.159 -0.121 -0.068 -0.061 0.032

0.005

0.001

0.000

0.000

0.000

0.002

-0.200 -0.144 -0.160 -0.184 -0.109 0.008

0.018

0.006

0.005

0.003

0.001 -0.002 -0.001

-0.174 -0.158 -0.142 -0.097

0.003

0.003

0.002

0.001

-0.145 -0.040 -0.026 -0.083

0.009

0.000

0.000

0.002

-0.356 -0.272 -0.239 -0.143 -0.107 -0.063 -0.062 0.012

0.004

0.003

0.001

-0.067 -0.064 -0.061 -0.046

0.001

0.002

0.002

0.003

0.098

0.115

0.015

0.679

0.049 -0.011

0.098

0.001

0.001

0.001

0.037 -0.025 -0.032

0.001

0.004

0.007

0.005

-0.346 -0.002 -0.021 -0.053

0.009

0.000

0.001

0.003

-0.143 -0.024 -0.024 -0.091 -0.083 -0.083

0.044

0.021

0.016

0.007

0.002

0.002

-0.180 -0.099 -0.019 0.009

0.000

0.004

0.008

0.008

0.007

0.007

0.003

0.006

0.003

0.002

0.002

0.062

0.010

0.001

0.001

0.001

0.000 -0.001

24.14

-0.240 -0.078 -0.083 -0.141 -0.128 -0.109 -0.099 0.027

0.003

0.002

0.003

0.002

0.001

0.001

22.60

-0.313 -0.125 -0.026 -0.012 -0.013 0.005

0.021

0.000

17.98

KESBV FH Equity FI0009000202

IE0004906560

0.018 -0.001 0.002

0.180

35.87

0.273

-0.244 -0.369 -0.429 -0.137 -0.082 -0.182

0.129

0.054

0.003

0.002

0.002

0.001

0.001

0.019

0.002

0.002

0.003

0.002

0.003

-0.200 -0.087 -0.071 -0.117 -0.108 -0.103 -0.093 0.021

0.033

0.003

0.001

0.001

0.001

0.002

-0.243 -0.186 -0.126 -0.061

0.007

0.004

0.002

0.000

-0.222 -0.093 -0.023 -0.071 -0.084 -0.084

0.011

0.003

0.001

0.003

0.001

0.001

-0.018 0.039

0.019

0.007

0.004

0.002

0.001

0.002

0.007

0.008

0.002

0.002

0.019

0.001

0.000

0.001

0.000

0.000

0.036

-0.107 -0.057 -0.044 -0.050 -0.070 -0.065 17.19

0.009 -0.054 -0.071 -0.068

0.130 -0.036 -0.042 -0.050 -0.209 -0.013 -0.003 0.013

KLEPIERRE

Financials

30.51

4.92%

21.04.2014

KNEBV FH Equity FI0009013403

KONE OYJ-B

Industrials

63.70

2.75%

25.02.2014

KCR1V FH Equity FI0009005870

KONECRANES OYJ

Industrials

28.16

3.73%

21.03.2014

AH NA Equity

NL0006033250

KONINKLIJKE AHOLD NV

Consumer Staples

11.08

3.97%

19.04.2013

17.48

12.58

13.86

14.20

15.31

16.50

17.29

0.014

0.011

0.009

0.004

0.002

0.002

BOKA NA Equity

NL0000852580

BOSKALIS WESTMINSTER

Industrials

33.65

3.68%

10.05.2013

22.85

20.92

21.09

21.79

0.024

0.005

0.005

0.004

DSM NA Equity

NL0000009827

KONINKLIJKE DSM NV

Materials

45.13

3.37%

08.08.2013

19.76

19.22

20.02

20.01

20.44

20.44

20.20

-0.246 -0.116 -0.106 -0.125 -0.085 -0.054 -0.017 0.025

0.004

0.002

0.004

0.002

0.003

0.003

KPN NA Equity

NL0000009082

KONINKLIJKE KPN NV

Telecommunication Services 2.82

PHIA NA Equity

NL0000009538

KONINKLIJKE PHILIPS ELECTRON

Industrials

VPK NA Equity

NL0009432491

VOPAK

KNIN VX Equity

CH0025238863

KUEHNE & NAGEL INTL AG-REG

OR FP Equity

FR0000120321

LAD LN Equity

GB00B0ZSH635

LG FP Equity

FR0000120537

MMB FP Equity LAND LN Equity

-0.170 0.026

0.003 -0.002

0.002

0.027 -0.054 -0.044 -0.010 0.016

-0.344 -0.187 -0.131 -0.151

26.07.2013

52.72

54.37

53.09

46.47

42.31

40.94

41.10

-0.087 -0.021 0.000 -0.049 -0.064 -0.040 0.004

0.017

0.005

0.003

0.001

0.000

0.000 -0.003

22.11

3.39%

06.05.2013

25.80

24.43

25.19

24.56

24.74

25.32

25.96

-0.329 -0.192 -0.142 -0.163 -0.129 -0.108 -0.081 0.024

0.004

0.003

0.004

0.002

0.001

Industrials

54.65

1.70%

26.04.2013

20.39

19.02

19.08

18.98

19.01

19.01

-0.154 -0.133 -0.061 -0.071 -0.075 -0.075

0.020

0.004

0.002

0.003

0.002

0.002

Industrials

109.10

3.53%

09.05.2013

22.76

21.02

20.33

20.92

21.42

21.47

-0.160 -0.120 -0.047 -0.089 -0.087 -0.101

0.013

0.003

0.002

0.002

0.001

0.001

L'OREAL

Consumer Staples

115.00

2.00%

28.04.2014

20.40

19.98

19.56

19.82

19.88

19.74

19.61

-0.227 -0.192 -0.184 -0.154 -0.101 -0.103 -0.091 0.019

LADBROKES PLC

Consumer Discretionary

229.00

4.02%

11.09.2013

21.07

20.74

20.42

20.47

-0.345 -0.223 -0.101 -0.008

LAFARGE SA

Materials

50.59

1.98%

03.07.2013

25.77

25.29

26.63

27.46

29.69

29.39

27.60

FR0000130213

LAGARDERE S.C.A.

Consumer Discretionary

26.44

4.92%

08.05.2013

24.61

24.07

24.77

24.79

25.62

25.73

GB0031809436

LAND SECURITIES GROUP PLC

Financials

838.50

3.67%

19.06.2013

12.29

12.63

13.42

14.06

LXS GY Equity

DE0005470405

LANXESS AG

Materials

67.56

1.41%

24.05.2013

34.16

31.56

30.65

28.41

28.28

28.68

LGEN LN Equity

GB0005603997

LEGAL & GENERAL GROUP PLC

Financials

160.50

4.77%

17.04.2013

20.98

16.70

19.08

18.47

18.95

18.95

-0.100 -0.001 -0.023 -0.095 -0.109 -0.109

LR FP Equity

FR0010307819

LEGRAND SA

Industrials

35.17

2.84%

02.06.2014

23.18

22.93

22.68

24.03

24.12

24.12

-0.184 -0.154 -0.124 -0.135 -0.132 -0.132

LIN GY Equity

DE0006483001

LINDE AG

Materials

138.80

1.95%

30.05.2013

18.14

17.33

17.69

18.35

19.51

20.55

LISN SE Equity

CH0010570759

LINDT & SPRUENGLI AG-REG

Consumer Staples

39295.00

1.43%

22.04.2013

19.72

19.99

20.05

19.59

19.52

19.51

LLOY LN Equity

GB0008706128

LLOYDS BANKING GROUP PLC

Financials

06.03.2013

33.77

32.00

31.17

31.58

31.58

35.13

LOGN SE Equity

CH0025751329

LOGITECH INTERNATIONAL-REG

Information Technology

39.27

39.84

LSE LN Equity

GB00B0SWJX34

LONDON STOCK EXCHANGE GROUP

Financials

1361.00

LMI LN Equity

GB0031192486

LONMIN PLC

Materials

352.40

LONN VX Equity

55.08 6.51 2.30%

28.81

20.93 34.87

0.001

0.008

0.004

0.004

0.002

0.002

0.001

0.011

0.009

0.006

0.002

-0.294 -0.218 -0.216 -0.158 -0.102 -0.095 -0.112 0.020

0.009

0.006

0.003

0.002

0.002

0.002

-0.154 -0.120 -0.092 -0.071 -0.066 -0.053

0.024

0.017

0.011

0.002

0.001

0.002

-0.284 -0.097 -0.114 -0.108

0.009

0.004

0.002

0.003

0.010

0.001

0.001

0.001

0.000

0.000

0.002

0.010

0.009

0.003

0.002

0.002

0.023

0.016

0.009

0.002

0.002

0.002

-0.239 -0.159 -0.157 -0.097 -0.070 -0.046 -0.022 0.024 -0.037 0.007

-0.003 0.013 -0.005 -0.003 -0.003 0.012

0.032

0.000

0.009

0.008

0.004

0.001

0.000

0.002

0.000

0.000

0.000

0.000

0.000

-0.315 -0.272 -0.227 -0.148 -0.156 -0.156 -0.127 0.006

0.006

0.010

0.002

0.002 -0.001 0.000 0.002

0.000

0.052

0.034

0.028

0.029

0.000

35.67

35.27

38.44

39.98

-0.232 -0.154 -0.236 -0.292 -0.367 -0.421

0.023

0.000

0.001

0.000

24.07.2013

21.22

20.60

19.98

19.33

0.011

0.042

0.001

0.002

0.003

0.003

08.01.2014

39.22

40.33

41.44

42.55

-0.184 -0.198 -0.213 -0.171

0.009

0.006

0.004

0.001

24.03

22.70

23.95

24.48

25.10

25.33

-0.118 -0.036 -0.023 -0.056 -0.054 -0.051

0.016

0.004

0.002

0.002

0.001

0.001

28.25

26.70

27.74

27.66

29.35

29.35

-0.240 -0.208 -0.133 -0.071 -0.017 -0.017

0.041

0.019

0.008

0.003

0.001

0.001

-0.276 -0.185 -0.177 -0.115 -0.080 -0.080

0.013

0.005

0.003

0.002

0.001

0.001

-0.150 -0.169 -0.154 -0.131 -0.111 -0.092 -0.089 0.014

0.008

0.005

0.003

0.002

0.001

0.001

0.000

0.000

0.000

CH0013841017

LONZA GROUP AG-REG

Health Care

59.45

3.61%

07.04.2014

LUNDB SS Equity SE0000108847

LUNDBERGS AB-B SHS

Financials

267.90

1.61%

14.04.2014

LUPE SS Equity

SE0000825820

LUNDIN PETROLEUM AB

Energy

151.10

LUX IM Equity

IT0001479374

LUXOTTICA GROUP SPA

Consumer Discretionary

34.68

1.73%

20.05.2013

24.80

21.27

21.09

19.72

20.50

20.50

MC FP Equity

FR0000121014

LVMH MOET HENNESSY LOUIS VUI

Consumer Discretionary

134.80

2.23%

29.11.2013

22.26

22.41

22.04

22.58

23.14

22.81

EMG LN Equity

GB00B83VD954

MAN GROUP PLC

Financials

106.30

13.67%

24.04.2013

50.15

42.70

47.96

45.41

MAN GY Equity

DE0005937007

MAN SE

Industrials

88.87

1.13%

10.06.2014

15.32

12.43

12.67

12.94

12.70

12.82

MAP SQ Equity

ES0124244E34

MAPFRE SA

Financials

2.56

4.68%

01.07.2013

35.03

34.05

32.09

30.89

27.61

26.44

MHG NO Equity

NO0003054108

MARINE HARVEST

Consumer Staples

5.92

37.20

33.15

34.02

MKS LN Equity

GB0031274896

22.48

0.031

0.051

-0.180 -0.089 -0.001 0.068

-0.001 0.001 -0.002 -0.001

12.75

-0.151 -0.027 -0.013 -0.006 -0.006 -0.007 0.004

0.007

0.000

0.000

0.001

27.53

-0.141 -0.150 -0.240 -0.282 -0.183 -0.205 -0.151 0.004

0.002

0.002

0.000 -0.001 0.000 -0.004

-0.689 -0.141 0.434

0.086

0.060

0.040

-0.085 -0.024 0.004 -0.010 -0.036 -0.047 -0.064 0.006

MARKS & SPENCER GROUP PLC

Consumer Discretionary

371.20

4.69%

29.05.2013

21.42

22.35

22.08

22.92

22.07

21.57

0.007

0.001

0.001

0.002

0.002

MEDAA SS Equity SE0000221723

MEDA AB-A SHS

Health Care

73.95

3.04%

12.05.2014

23.60

16.34

18.42

18.77

-0.320 -0.166 -0.111 -0.029

0.091

0.041

0.026

0.011

MS IM Equity

IT0001063210

MEDIASET SPA

Consumer Discretionary

1.72

20.05.2013

51.16

48.34

46.95

44.33

43.61

43.61

21.21

-0.195 -0.140 -0.225 -0.241 -0.218 -0.218

0.004

0.000

0.000

0.002

0.003

0.003

MB IM Equity

IT0000062957

MEDIOBANCA SPA

Financials

5.44

2.94%

18.11.2013

39.92

36.24

35.82

35.05

32.19

32.19

-0.221 -0.257 -0.237 -0.189 -0.047 -0.047

0.012

0.004

0.003

0.003

0.003

0.003

MGGT LN Equity

GB0005758098

MEGGITT PLC

Industrials

459.50

2.57%

13.03.2013

MRO LN Equity

GB00B8L59D51

MELROSE INDUSTRIES PLC

Industrials

253.30

3.04%

03.04.2013

MRK GY Equity

DE0006599905

MERCK KGAA

0.001

0.001

MEO GY Equity

DE0007257503

0.001

Health Care

106.75

1.45%

29.04.2013

23.75

21.78

21.74

21.71

21.42

21.13

20.97

-0.135 -0.130 -0.109 -0.095 -0.095 -0.109 -0.102 0.016

0.006

0.004

0.002

METRO AG

Consumer Staples

24.24

5.57%

09.05.2013

26.28

27.02

27.84

27.86

27.06

27.09

27.66

-0.315 -0.187 -0.005 0.018

0.022

0.008

0.005

0.001 -0.001 -0.002 -0.003

MEO1V FH Equity FI0009007835

METSO OYJ

Industrials

33.65

5.50%

02.04.2014

29.37

29.17

28.97

0.006

0.000

0.000

MPI LN Equity

GB0030232317

MICHAEL PAGE INTERNATIONAL

Industrials

432.60

2.37%

01.05.2013

MTO LN Equity

GB0004657408

MITIE GROUP PLC

Industrials

287.70

3.63%

19.06.2013

MOBN SE Equity

CH0011108872

MOBIMO HOLDING AG-REG

Financials

209.80

4.29%

11.04.2013

MTGB SS Equity

SE0000412371

MODERN TIMES GROUP-B SHS

Consumer Discretionary

271.70

3.68%

15.05.2014

MNDI LN Equity

GB00B1CRLC47

MONDI PLC

Materials

855.00

2.94%

21.08.2013

MTX GY Equity

DE000A0D9PT0

MTU AERO ENGINES HOLDING AG

Industrials

71.66

2.02%

06.05.2013

21.71

21.24

21.75

23.46

24.39

23.84

23.87

-0.242 -0.105 -0.060 -0.074 -0.042 -0.024 -0.011 0.024

0.003

0.002

0.001

0.000

0.001

0.001

MUV2 GY Equity

DE0008430026

MUENCHENER RUECKVER AG-REG

Financials

138.65

5.05%

24.04.2014

17.96

17.26

16.93

18.07

18.36

19.04

19.52

-0.141 -0.159 -0.092 -0.110 -0.089 -0.060 -0.049 0.029

0.010

0.008

0.004

0.002

0.001

0.001

ETE GA Equity

GRS003013000

NATIONAL BANK OF GREECE

Financials

0.96

21.05.2013

62.14

62.39

62.63

62.87

0.005

0.000

0.000

0.000

0.000

NEX LN Equity

GB0006215205

NATIONAL EXPRESS GROUP PLC

Industrials

208.90

4.88%

24.04.2013

NG/ LN Equity

GB00B08SNH34

NATIONAL GRID PLC

Utilities

712.50

5.80%

29.05.2013

13.27

13.57

14.05

15.75

16.18

16.18

-0.096 0.004 -0.064 -0.022 -0.025 -0.025

0.012

0.003

0.002

0.001

0.001

0.001

KN FP Equity

FR0000120685

NATIXIS

Financials

3.35

2.98%

03.06.2013

35.33

33.83

32.72

34.86

32.22

31.76

-0.146 -0.062 -0.115 -0.121 -0.055 -0.134

0.024

0.000

0.000

0.002

0.003

0.002

NCCB SS Equity

SE0000117970

NCC AB-B SHS

Industrials

167.20

5.98%

10.04.2014

NEO FP Equity FR0000120560 NES1V FH Equity FI0009013296

NEOPOST SA NESTE OIL OYJ

Information Technology Energy

44.07 11.76

8.85% 3.23%

10.07.2013 07.04.2014

17.11 31.05

16.88 30.08

16.90 30.78

18.43 31.15

24.77

21.88

-0.138 0.009 0.002 -0.022 -0.159 -0.079 -0.170 -0.118 -0.091 -0.090

0.027 0.017

0.000 0.003

0.000 0.002

0.000 -0.003 -0.001 0.001

0.035

0.072

-0.107 -0.081 -0.064

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.003

0.002

0.000

0.097

0.001


25.02.2013

Stoxx 600 Index

Ticker

ISIN

NESN VX Equity CH0038863350 NXT LN Equity GB0032089863 NOK1V FH Equity FI0009000681 NRE1V FH Equity FI0009005318 NDA SS Equity SE0000427361 NHY NO Equity NO0005052605 NOVN VX Equity CH0012005267 NOVOB DC Equity DK0060102614 NZYMB DC Equity DK0060336014 NUO NA Equity NL0000375400 OERL SE Equity CH0000816824 OML LN Equity GB00B77J0862 OMV AV Equity AT0000743059 OPAP GA Equity GRS419003009 OPHR LN Equity GB00B24CT194 ORI SS Equity SE0001174889 ORNBV FH Equity FI0009014377 ORK NO Equity NO0003733800 OTE1V FH Equity FI0009014575 PWL ID Equity IE0002588105 PARG SE Equity CH0021783391 PGHN SE Equity CH0024608827 PSON LN Equity GB0006776081 PNN LN Equity GB00B18V8630 RI FP Equity FR0000120693 PSN LN Equity GB0006825383 PFC LN Equity GB00B0H2K534 PGS NO Equity NO0010199151 POG LN Equity GB0031544546 UG FP Equity FR0000121501 PC IM Equity IT0004623051 POH1S FH Equity FI0009003222 PGIL LN Equity JE00B5WLXH36 PAH3 GY Equity DE000PAH0038 PTC PL Equity PTPTC0AM0009 PNL NA Equity NL0009739416 PP FP Equity FR0000121485 PMO LN Equity GB00B43G0577 PSM GY Equity DE0007771172 PFG LN Equity GB00B1Z4ST84 PRU LN Equity GB0007099541 PRY IM Equity IT0004176001 PSPN SE Equity CH0018294154 PUB FP Equity FR0000130577 QIA GY Equity NL0000240000 QQ/ LN Equity GB00B0WMWD03 RBI AV Equity AT0000606306 RRS LN Equity GB00B01C3S32 RAND NA Equity NL0000379121 RATOB SS Equity SE0000111940 RB/ LN Equity GB00B24CGK77 REE SQ Equity ES0173093115 REN NA Equity NL0006144495 REL LN Equity GB00B2B0DG97 RCO FP Equity FR0000130395 RNO FP Equity FR0000131906 RTO LN Equity GB00B082RF11 REP SQ Equity ES0173516115 REX LN Equity GB00B943Z359 RXL FP Equity FR0010451203 RHM GY Equity DE0007030009 RHK GY Equity DE0007042301 RMV LN Equity GB00B2987V85 RIO LN Equity GB0007188757 ROG VX Equity CH0012032048 RR/ LN Equity GB00B63H8491 ROR LN Equity GB0007506958 RBS LN Equity GB00B7T77214 RDSA NA Equity GB00B03MLX29 IM NA Equity NL0006055329 RSA LN Equity GB0006616899 RUI FP Equity FR0000121253 RWE GY Equity DE0007037129 RYA ID Equity IE00B1GKF381 SAB LN Equity GB0004835483 SAF FP Equity FR0000073272 SGE LN Equity GB0008021650 SPM IM Equity IT0000068525 SZG GY Equity DE0006202005 SAMAS FH Equity FI0009003305 SAND SS Equity SE0000667891 SAN FP Equity FR0000120578 SAP GY Equity DE0007164600 SBMO NA Equity NL0000360618 SCVB SS Equity SE0000308280 SCH NO Equity NO0003028904 SCHP VX Equity CH0024638196 SU FP Equity FR0000121972 SDR LN Equity GB0002405495 SCR FP Equity FR0010411983 SDRL NO Equity BMG7945E1057 SK FP Equity FR0000121709 SECUB SS Equity SE0000163594 SGRO LN Equity GB00B5ZN1N88 SRP LN Equity GB0007973794 SESG FP Equity LU0088087324 SVT LN Equity GB00B1FH8J72 SGL GY Equity DE0007235301 SGSN VX Equity CH0002497458 SHB LN Equity GB0007990962 SHP LN Equity JE00B2QKY057 SIE GY Equity DE0007236101 SIK VX Equity CH0000587979 SEBA SS Equity SE0000148884 SKAB SS Equity SE0000113250 SKFB SS Equity SE0000108227 SKYD GY Equity DE000SKYD000 SN/ LN Equity GB0009223206 SMIN LN Equity GB00B1WY2338 SKG ID Equity IE00B1RR8406 SRG IM Equity IT0003153415 BB FP Equity FR0000120966 GLE FP Equity FR0000130809 SW FP Equity FR0000121220 SOW GY Equity DE0003304002 SOLB BB Equity BE0003470755 SOON VX Equity CH0012549785 SXS LN Equity GB0003308607 SPX LN Equity GB0008347048 SPT LN Equity GB0004726096 SSABA SS Equity SE0000171100 SSE LN Equity GB0007908733 SAZ GY Equity DE0007251803 SGC LN Equity GB00B6YTLS95 STAN LN Equity GB0004082847 SL/ LN Equity GB00B16KPT44

Name NESTLE SA-REG NEXT PLC NOKIA OYJ NOKIAN RENKAAT OYJ NORDEA BANK AB NORSK HYDRO ASA NOVARTIS AG-REG NOVO NORDISK A/S-B NOVOZYMES A/S-B SHARES NUTRECO NV OC OERLIKON CORP AG-REG OLD MUTUAL PLC OMV AG OPAP SA OPHIR ENERGY PLC ORIFLAME COSMETICS SA-SDR ORION OYJ-CLASS B ORKLA ASA OUTOTEC OYJ PADDY POWER PLC PARGESA HOLDING SA-BR PARTNERS GROUP HOLDING AG PEARSON PLC PENNON GROUP PLC PERNOD-RICARD SA PERSIMMON PLC PETROFAC LTD PETROLEUM GEO-SERVICES PETROPAVLOVSK PLC PEUGEOT SA PIRELLI & C. POHJOLA BANK PLC-A SHS POLYUS GOLD INTERNATIONAL LT PORSCHE AUTOMOBIL HLDG-PRF PORTUGAL TELECOM SGPS SA-REG POSTNL NV PPR PREMIER OIL PLC PROSIEBEN SAT.1 MEDIA AG-PRF PROVIDENT FINANCIAL PLC PRUDENTIAL PLC PRYSMIAN SPA PSP SWISS PROPERTY AG-REG PUBLICIS GROUPE QIAGEN N.V. QINETIQ GROUP PLC RAIFFEISEN BANK INTERNATIONA RANDGOLD RESOURCES LTD RANDSTAD HOLDING NV RATOS AB-B SHS RECKITT BENCKISER GROUP PLC RED ELECTRICA CORPORACION SA REED ELSEVIER NV REED ELSEVIER PLC REMY COINTREAU RENAULT SA RENTOKIL INITIAL PLC REPSOL SA REXAM PLC REXEL SA RHEINMETALL AG RHOEN-KLINIKUM AG RIGHTMOVE PLC RIO TINTO PLC ROCHE HOLDING AG-GENUSSCHEIN ROLLS-ROYCE HOLDINGS PLC ROTORK PLC ROYAL BANK OF SCOTLAND GROUP ROYAL DUTCH SHELL PLC-A SHS ROYAL IMTECH NV RSA INSURANCE GROUP PLC RUBIS RWE AG RYANAIR HOLDINGS PLC SABMILLER PLC SAFRAN SA SAGE GROUP PLC/THE SAIPEM SPA SALZGITTER AG SAMPO OYJ-A SHS SANDVIK AB SANOFI SAP AG SBM OFFSHORE NV SCANIA AB-B SHS SCHIBSTED ASA SCHINDLER HOLDING-PART CERT SCHNEIDER ELECTRIC SA SCHRODERS PLC SCOR SE SEADRILL LTD SEB SA SECURITAS AB-B SHS SEGRO PLC SERCO GROUP PLC SES SEVERN TRENT PLC SGL CARBON SE SGS SA-REG SHAFTESBURY PLC SHIRE PLC SIEMENS AG-REG SIKA AG-BR SKANDINAVISKA ENSKILDA BAN-A SKANSKA AB-B SHS SKF AB-B SHARES SKY DEUTSCHLAND AG SMITH & NEPHEW PLC SMITHS GROUP PLC SMURFIT KAPPA GROUP PLC SNAM SPA SOCIETE BIC SA SOCIETE GENERALE SODEXO SOFTWARE AG SOLVAY SA SONOVA HOLDING AG-REG SPECTRIS PLC SPIRAX-SARCO ENGINEERING PLC SPIRENT COMMUNICATIONS PLC SSAB AB-A SHARES SSE PLC STADA ARZNEIMITTEL AG STAGECOACH GROUP PLC STANDARD CHARTERED PLC STANDARD LIFE PLC

GICS_SECTOR_NAME

ATM2 Ref

Consumer Staples 64.60 Consumer Discretionary 4209.00 Information Technology 2.92 Consumer Discretionary 35.62 Financials 75.00 Materials 26.92 Health Care 64.45 Health Care 990.50 Materials 196.80 Consumer Staples 69.64 Industrials 11.45 Financials 201.90 Energy 32.50 Consumer Discretionary 6.72 Energy 478.20 Consumer Staples 224.30 Health Care 23.04 Industrials 47.89 Industrials 51.50 Consumer Discretionary 64.40 Financials 68.65 Financials 214.00 Consumer Discretionary 1148.00 Utilities 659.00 Consumer Staples 98.39 Consumer Discretionary 900.00 Energy 1598.00 Energy 93.75 Materials 316.60 Consumer Discretionary 5.83 Consumer Discretionary 8.51 Financials 12.74 Materials 218.75 Consumer Discretionary 62.26 Telecommunication Services 4.03 Industrials 1.98 Consumer Discretionary 171.90 Energy 382.50 Consumer Discretionary 24.46 Financials 1510.00 Financials 969.50 Industrials 15.97 Financials 86.00 Consumer Discretionary 50.48 Health Care 16.43 Industrials 208.20 Financials 29.61 Materials 5485.00 Industrials 32.98 Financials 66.80 Consumer Staples 4353.00 Utilities 42.36 Consumer Discretionary 11.12 Consumer Discretionary 689.50 Consumer Staples 99.84 Consumer Discretionary 48.22 Industrials 92.45 Energy 15.96 Materials 508.50 Industrials 17.80 Industrials 42.33 Health Care 15.94 Consumer Discretionary 1747.00 Materials 3510.00 Health Care 213.70 Industrials 1040.00 Industrials 2875.00 Financials 355.00 Energy 24.86 Industrials 9.81 Financials 119.10 Utilities 53.43 Utilities 28.53 Industrials 5.70 Consumer Staples 3216.00 Industrials 34.59 Information Technology 342.80 Energy 20.79 Materials 36.36 Financials 28.62 Industrials 106.90 Health Care 73.83 Information Technology 61.10 Energy 10.74 Industrials 137.80 Consumer Discretionary 234.60 Industrials 142.10 Industrials 59.70 Financials 2064.00 Financials 22.08 Energy 208.40 Consumer Discretionary 60.94 Industrials 59.95 Financials 256.10 Industrials 590.50 Consumer Discretionary 23.20 Utilities 1617.00 Industrials 33.32 Industrials 2361.00 Financials 573.00 Health Care 2124.00 Industrials 80.07 Materials 2330.00 Financials 67.60 Industrials 116.60 Industrials 160.30 Consumer Discretionary 4.93 Health Care 711.00 Industrials 1255.00 Materials 11.90 Utilities 3.73 Industrials 88.05 Financials 31.02 Consumer Discretionary 70.16 Information Technology 30.11 Materials 112.20 Health Care 113.10 Information Technology 2439.00 Industrials 2422.00 Information Technology 166.80 Materials 51.70 Utilities 1440.00 Health Care 29.53 Industrials 298.90 Financials 1772.00 Financials 350.20

Dividend Yield 3.18% 2.45%

Next ExDividend Date

At The Money Implied Volatilities by Terms

Option Implied Volatility Skew Parameters by Terms: IVt = atx + btx2 + ct

ATM2 ATM2 ATM2 ATM2 ATM2 ATM2 ATM2 Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M

4.07% 3.84% 2.79% 3.57% 1.82% 1.12% 3.02%

23.04.2014 26.06.2013 09.05.2014 14.04.2014 14.03.2014 09.05.2014 28.02.2014 20.03.2014 27.02.2014 30.07.2013

3.12% 3.69% 10.27%

17.04.2013 12.05.2014 20.06.2013

6.61% 5.64% 5.22% 2.33% 1.93% 3.96% 2.69% 4.01% 4.40% 1.77% 8.33% 2.75% 1.76% 3.79% 3.88% 3.61%

22.05.2014 20.03.2014 18.04.2014 27.03.2014 13.03.2013 10.05.2013 06.05.2013 14.08.2013 07.08.2013 02.07.2013 07.05.2014 17.04.2013 14.05.2014 26.06.2013 05.06.2013 20.05.2013 25.03.2014

1.77% 8.06% 6.19% 1.31%

02.05.2013 21.05.2013 06.08.2013 02.05.2014

30.40

31.55

32.02

31.41

29.48

45.21 21.01

36.27 20.37

43.35 20.27

33.45 20.73

32.80 20.72

22.89% 5.26% 2.78% 1.53% 3.60% 1.78%

24.07.2013 15.05.2013 27.03.2013 22.04.2013 11.04.2013 27.06.2014

34.00

34.24

34.31

43.30

25.52 25.22 9.64 17.03 23.16

22.61 24.18 7.65 19.12 21.98

22.42 24.38 7.62 18.50 21.90

22.20 24.96 10.96 18.86 22.23

1.63% 3.95% 0.60% 3.79% 4.49% 3.12% 5.56% 4.15% 3.36% 1.40% 3.57% 2.46% 6.22% 3.09% 4.21% 4.25% 2.82% 1.32% 3.26% 3.44% 1.96% 1.52%

22.16 35.61 21.13

26.63 34.78 21.21

26.47 34.15 22.13

17.72 22.51 24.43 24.45 28.94 31.53 21.71 29.65

17.34 21.53 20.09 22.09 29.03 30.16 20.57 28.35

25.16 25.54

5.21%

07.08.2013 02.07.2014 07.05.2014 03.04.2014 17.04.2014 07.08.2013 02.07.2013 30.04.2013 01.05.2013 02.08.2013 10.05.2013 03.04.2013 20.06.2013 07.08.2013 24.05.2013 15.05.2013 13.06.2013 08.05.2013 14.08.2013 10.03.2014 23.10.2013 10.04.2013 06.03.2013 15.05.2013 07.04.2014 25.09.2013

7.01%

19.04.2013

2.16% 2.98% 3.24% 3.27% 0.96% 4.72% 3.27% 3.75% 1.39% 3.45% 1.49% 1.55% 3.13% 1.99% 5.21% 7.06% 2.05% 5.00% 5.82% 1.57% 4.18% 4.80% 0.60% 1.27% 2.24% 0.54% 3.87% 2.06% 4.07% 5.15% 3.43%

07.08.2013 17.12.2013 15.05.2013 19.05.2014 24.05.2013 21.04.2014 28.04.2014 10.05.2013 05.06.2013 03.04.2014 06.05.2014 16.05.2014 28.03.2014 12.05.2014 27.03.2013 08.05.2013 22.05.2013 15.05.2013 08.05.2014 20.03.2013 12.03.2013 18.04.2014 19.06.2013 01.05.2013 21.03.2014 12.06.2013 04.09.2013 24.01.2014 18.04.2013 24.03.2014 14.04.2014 29.04.2014

2.48% 3.19% 2.56% 6.70% 2.91% 1.45% 2.54% 1.56% 2.90% 1.24% 1.64% 2.29% 1.33% 1.93% 5.93% 2.20% 2.91% 3.19% 4.25%

09.10.2013 27.03.2013 25.09.2013 20.05.2013 21.05.2014 02.06.2014 30.01.2014 06.05.2013 16.01.2014 21.06.2013 16.10.2013 17.04.2013 06.03.2013 15.04.2014 24.07.2013 06.06.2013 28.08.2013 06.03.2013 03.04.2013

5.44%

10.92 16.50 47.90 29.95 19.33 42.29 8.92 26.00 22.07 16.46 34.86 27.11 24.39 53.36

9.23 17.43 50.26 29.02 19.45 36.19 8.00 24.26 22.42 16.39 29.62 25.34 22.98 52.41

10.05 18.36 49.83 29.40 19.43 33.61 9.50 24.08 22.50 16.26 29.03 22.97 23.82 51.47

11.08 19.12 50.11

12.04

12.21

12.68

49.47

49.35

47.29

19.71 30.73 10.96 23.40 21.88 17.17 29.75 21.08 22.91 54.38

22.69

22.69

11.95

12.66

29.88

28.93

19.81

15.39

16.65

17.28

17.33

17.56

16.09 15.27 20.48

16.25 15.17 19.62

16.82 15.16 18.26

17.84 15.81 17.17

19.34 15.56

21.15 15.78

18.45

18.23

18.98

19.56

19.31

18.92

23.76 24.69

23.50 27.04

22.81 29.91

21.53 32.83

53.75 31.58

52.51 29.08

52.94 29.91

53.11 28.86

53.35 29.26

52.17 29.26

12.48

-0.248 -0.058 -0.103 -0.068 -0.076 -0.397 0.113 0.006 0.123 -0.421 -0.297 0.059 -0.674 0.043

-0.063 -0.063 -0.067 0.008 -0.044 -0.450 0.044 0.012 0.003 -0.126 -0.277 -0.002 -0.366 0.038

-0.051 -0.069 -0.176 -0.004 -0.108 -0.117 0.019 0.016 -0.022 -0.112 -0.276 -0.063 -0.220 0.033

-0.095 -0.085 -0.047 -0.026 0.039 -0.070 0.002 -0.161 -0.123 -0.122 -0.077 0.021 0.007 -0.122 -0.091 -0.091 0.049 -0.109 0.081 -0.031 -0.041 -0.025 -0.019 0.036 0.030 0.000 -0.033 0.012 -0.114 0.017 -0.265 -0.228 -0.266 0.018 -0.113 0.009 -0.089 0.447 0.759 0.031 0.021 -0.001

0.020 0.002 0.006 0.000 0.025 0.058 0.021 0.000 0.003 0.008 0.004 0.007 0.013 -0.001

0.015 0.003 0.004 0.000 0.016 0.032 0.014 0.000 -0.001 0.005 0.002 0.006 0.006 -0.001

0.008 0.001 0.003

0.003

0.003

0.008 0.008 0.006 0.000 0.001 0.004 0.003 0.004 0.002 0.000

0.002

0.002

0.003

0.002

0.003

0.005

0.005

0.004

0.002

0.000 -0.001 0.000

0.002

-0.226 -0.145 0.075 -0.037

0.059

0.035

0.019

0.008

-0.147 -0.130 -0.131 -0.143 -0.118 -0.089 -0.080 0.029 0.027 0.020 0.014 0.011 0.214 0.125 0.031 -0.046

0.011 0.023 0.004

0.002 0.001 0.004

0.002 0.000 0.004

0.003 0.000 0.003

0.002 0.000

0.003 0.000

-0.190 -0.184 -0.128 -0.142 -0.122 -0.104 -0.088 0.023

0.008

0.004

0.003

0.002

0.003

0.002

-0.156 -0.119 -0.080 -0.058 0.313 0.171 0.031 -0.076

0.002 0.005

0.002 0.004

0.002 0.003

0.001 0.000

51.34

-0.185 -0.238 -0.194 -0.186 -0.135 -0.112 -0.111 0.007 -0.207 -0.130 -0.104 -0.079 -0.067 -0.067 0.007

0.007 0.004

0.005 0.002

0.003 0.002

0.000 0.001

0.000 0.001

0.000

29.81

28.40

-0.460 -0.360 -0.275 -0.204 -0.154 -0.134 -0.072 0.017

0.010

0.007

0.002

0.001 -0.001 0.001

32.80 20.51

32.80 20.68

0.042 0.855 0.798 1.008 1.123 1.123 1.123 0.031 -0.162 -0.133 -0.095 -0.098 -0.046 0.007 -0.019 0.014

0.012 0.006

0.008 0.006

0.016 0.003

0.012 0.002

47.34

51.33

46.13

-0.135 -0.026 -0.031 0.953

1.247

1.145

0.007

0.000

0.000 -0.017 -0.028 -0.037 -0.030

22.01 24.91 12.09 19.08 22.48

21.96 24.91 11.63 18.80 22.40

21.43

18.50 22.23

-0.458 -0.224 -0.275 -0.174 -0.291

-0.116 -0.113 -0.104 -0.129 -0.093

-0.069 -0.050 0.013 -0.113 0.000 -0.087 0.022 -0.123 -0.118 0.030 -0.087 -0.075 0.020

0.004 0.001 0.005 0.006 0.003

0.003 0.006 0.004 0.004 0.002

28.95 33.06 22.78

31.84

35.90

23.67

23.67

23.67

0.506 0.157 -0.094 -0.092 0.416 0.701 0.050 -0.177 -0.120 -0.063 -0.045 0.002 -0.458 -0.126 -0.112 -0.146 -0.120 -0.120 -0.120 0.022

0.019 0.003 0.005 -0.002 -0.010 0.000 -0.002 -0.002 0.008 0.002 0.003 0.002 0.002 0.002

17.71 21.11 19.77 20.26 28.79 30.78 19.07 27.37

17.54 19.38 17.93 17.77 29.34 31.30 20.61 25.76

17.44 17.84 17.24

17.44 17.36 17.67

16.90 17.99

0.001 0.001

0.002

24.41

26.18

0.000 0.002 0.005 0.004 0.000 0.002 0.004 0.002

0.000 0.001

27.13

0.002 0.001 0.008 0.005 0.000 0.002 0.006 0.002

0.001 0.001

28.90

0.007 0.002 0.011 0.005 0.000 0.007 0.005 0.001

0.000 0.003 0.001

29.59 30.80

-0.068 -0.068 0.014 -0.070 -0.067 -0.044 0.003 -0.059 -0.034 -0.022 0.028 0.005 -0.002 -0.011 0.005 -0.076 -0.042 -0.040 0.018 0.003 -0.188 -0.114 -0.044 0.004

0.000 0.002 0.003

29.20 31.90

-0.123 -0.187 -0.177 -0.142 -0.068 -0.423 -0.046 -0.187

0.002

0.002

0.000

24.95 25.17

25.99 24.31

28.63 25.69

27.50 26.25

28.38 26.83

28.19 26.69

-0.166 -0.087 -0.026 -0.040 -0.042 -0.070 -0.060 0.016 -0.079 -0.021 0.007 0.020 0.004 -0.009 0.001 0.026

0.003 0.005

0.001 0.002

0.001 0.000

0.001 0.000

0.001 0.000

0.001 0.000

28.96 12.13 23.80

28.38 14.40 22.87

28.01 14.80 22.20

28.26 15.59 21.21

28.93 16.30

30.01 16.79

29.34 17.14

-0.338 -0.103 -0.110 -0.115 -0.072 -0.038 -0.043 0.003 0.244 0.118 0.064 0.001 -0.014 0.010 0.025 0.031 -0.262 -0.222 -0.185 -0.112 0.007

0.003 0.014 0.005

0.002 0.009 0.002

0.002 0.004 0.000

0.001 0.003

0.000 0.003

0.001 0.002

37.99 13.94 84.45 20.91

34.11 13.49 75.13 17.60

33.89 13.51 69.43 18.00

33.00 14.15 65.99 18.33

32.13 15.10

32.12 15.44

32.34 15.72

-0.133 -0.124 -0.588 -0.040

-0.149 -0.100 -0.067 -0.044 0.020 -0.133 -0.076 -0.050 -0.016 0.027 -0.498 0.013 -0.124 -0.056 -0.056 0.002

0.006 0.011 0.010 0.001

0.002 0.005 0.008 0.005

0.002 0.008 0.005 0.005

0.001 0.003

0.000 0.002

18.06

-0.138 -0.058 -0.706 0.099

0.001 0.004

18.06

-0.174 0.033 -0.948 -0.028

0.006

0.006

27.60 24.89 16.55 25.81 21.63 33.19 32.13 16.86 19.83 23.00 18.86 41.90 22.12

24.86 23.58 16.74 25.60 20.85 31.88 30.30 15.83 19.86 22.02 19.44 38.42 21.96

24.68 23.42 16.93 25.40 20.31 32.69 31.28 16.85 22.38 22.06 19.77 37.46 22.23

24.11 22.26 17.25 25.82 19.86 31.61 31.66 16.48 23.27 21.87 20.47 36.86 23.49

22.82 21.93

23.14 21.74

23.17

24.27

0.002 0.000 0.003 0.003 0.003 0.001 0.001 0.004 0.006 0.002 0.004 0.001 0.005

0.002 0.000 0.000

25.74 19.90 22.39 35.33 24.79

0.021 0.007 0.006 0.020 -0.001 0.001 0.003 0.003 0.004 0.020 0.015 0.010 0.000 0.002 0.003 0.018 0.006 0.003 0.008 0.002 0.001 0.022 0.006 0.003 0.057 0.027 0.019 0.016 0.009 0.003 0.031 0.011 0.008 0.016 0.003 0.000 0.045 0.017 0.012

0.000 0.001

25.74 20.01 21.76 35.50 24.79

-0.041 -0.012 -0.095 -0.119 -0.147 -0.086 -0.083 -0.137 -0.144 -0.104 -0.219 -0.069 -0.156

0.002

32.15 32.35

-0.037 -0.037 -0.117 -0.120 -0.118 -0.170 -0.099 -0.061 -0.132 -0.115 -0.284 -0.060 -0.231

0.000 -0.001 0.001

32.15 31.89

-0.085 -0.042 -0.102 -0.131 -0.061 -0.226 -0.094 -0.137 -0.129 -0.156 -0.340 -0.078 -0.211

0.001 0.000

24.27

-0.177 -0.064 -0.087 -0.141 -0.005 -0.358 -0.122 -0.322 -0.121 -0.175 -0.370 -0.182 -0.257

0.002 0.002 0.002 0.001 0.001

0.002 0.002 0.001 0.002 0.001

17.07 24.38

17.39 24.44

17.46 25.85

17.66 26.87

17.72 28.51

17.94 28.05

0.002 0.004

0.002 0.003

0.001 0.002

0.001 0.002

19.98 17.83 20.55 22.70

19.49 18.62 20.80 20.00

20.07 19.89 21.26 21.76

19.76

20.28

20.28

0.004

0.002

0.002

21.13 21.38

21.04 24.59

21.47 24.59

0.036 0.025 0.016 0.039 0.027 0.016 0.012 -0.001 0.000 0.115 0.066 0.042

0.000 0.013

0.000 0.000

0.000 0.000

18.40 30.87 15.76

18.26 27.04 14.77

18.11 26.84 14.79

19.11 24.98 15.60

25.40 16.25

26.89 16.57

27.19

0.001 -0.002 -0.002 0.003 0.003

25.57 16.09 16.97 19.77 17.47 21.16 35.97 15.69

27.77 15.53 17.04 18.49 15.56 22.71 34.94 16.24

27.55 16.17 17.52 18.78 16.96 21.82 34.95 16.52

27.35 16.92 18.70 20.31 17.26 22.05 35.97 17.36

18.89 19.27 23.42 19.23 23.50 36.05

18.83 19.87 23.42 19.23 23.50 36.12

19.80

31.84 19.58 23.13 39.71 13.10 33.40 25.93 19.48

32.06 16.71 22.90 37.24 13.79 33.18 24.96 18.27

31.67 16.69 22.90 37.61 14.48 33.86 25.82 18.82

32.64 14.74 23.65 36.83 16.02 33.32 26.34 20.98

33.21 14.47 23.23 34.09 15.55 33.05 26.31 21.67

33.72 14.47 23.35 33.30 13.92 33.37 26.31 21.91

25.31 14.18 31.60

27.14 14.21 29.99

27.63 14.25 29.76

29.09 14.43 29.61

31.99

31.99

28.60

27.75

25.03 22.28

21.86 22.12

21.33 21.33

20.94 20.59

20.87

20.87

18.92

32.37

21.02 22.76 35.49

26.87

34.48 13.82 33.26

27.53

-0.011 -0.139 -0.070 -0.138 0.007 -0.193 -0.059 -0.179

-0.183 -0.209 -0.060 -0.173 -0.080

-0.126 -0.130 -0.001 -0.138 0.008 -0.086 -0.072 -0.183

-0.193 -0.156 -0.107 -0.181 -0.103

-0.087 -0.123 -0.058 -0.107 -0.005 -0.117 -0.074 -0.162

1.048

-0.048 -0.001 0.041 -0.016 -0.015 -0.088 -0.088 -0.078 -0.078 -0.071 -0.075 -0.060 -0.100 -0.110 -0.177 -0.066 -0.117

-0.100 -0.098 -0.071 -0.137 -0.105 -0.070 -0.054 -0.117

-0.180 -0.077 -0.049 -0.057 -0.033 -0.028 0.016 -0.163 -0.201 -0.171 -0.123 -0.090 -0.067 -0.111 0.022 -0.188 -0.221 -0.101 -0.339

36.01

-0.177 -0.179 0.007 -0.194 -0.140

-0.148 -0.154 0.010 -0.198

-0.115 -0.080 -0.091 -0.091 -0.089 -0.024 0.000 0.001 -0.008 0.056 -0.017 -0.052 -0.052

-0.021 -0.031 -0.041 -0.037 0.003 -0.016 -0.129 -0.115 -0.195 -0.229 -0.259 -0.294 0.016 -0.258 -0.167 -0.075 -0.137 -0.102 -0.095 0.010

0.002 0.008

0.004 0.002 0.008 0.004 0.003

0.003 0.002 0.007

0.003 0.002 0.003

0.001 0.002 0.005

0.003 0.001 0.003 0.002 0.002

0.012 0.002

0.004 0.001 0.004 0.001 0.002

0.012 0.001

0.003

0.001 0.002

0.000

0.002 0.001 0.001

0.003

0.042 -0.281 -0.064 -0.305 0.114 -0.244 -0.257 -0.153

0.056 -0.215 -0.057 0.029 0.176 -0.225 -0.154 -0.146

0.024 -0.180 -0.016 -0.071 0.138 -0.130 -0.097 -0.137

0.003 -0.164 -0.058 -0.102 -0.076 -0.125 -0.073 -0.105

-0.121 -0.076 -0.084 -0.100 -0.070 -0.065

0.019 0.006 -0.079 -0.077 0.030 0.013 -0.079 0.001 0.001 -0.084 0.058 0.029 -0.100 0.065 0.039 -0.070 0.045 0.017 -0.063 -0.044 0.018 -0.002 0.006 0.006

0.003 0.009 0.000 0.020 0.025 0.014 0.002 0.005

0.002 0.004 0.002 0.008 0.010 0.006 0.000 0.004

0.002 0.002 0.002 0.003 0.002 0.002

-0.220 -0.395 0.082 -0.325 -0.149 -0.177 -0.247 -0.345

-0.034 -0.293 0.001 -0.240 -0.127 -0.124 -0.146 -0.207

-0.057 -0.237 0.003 -0.223 -0.105 -0.107 -0.146 -0.151

-0.072 -0.155 -0.002 -0.184 -0.111 -0.133 -0.123 -0.147

-0.034 -0.072 0.011 -0.132 -0.101 -0.157 -0.100 -0.121

-0.012 0.010 -0.072 0.014 0.019 0.006 -0.079 -0.027 0.012 -0.103 -0.104 0.038 -0.172 -0.163 0.006 -0.100 0.012 -0.119 0.026

0.002 0.008 0.000 0.005 0.027 0.004 0.004 0.009

0.001 0.008 0.000 0.004 0.016 0.002 0.003 0.004

0.000 0.002 0.000 0.003 0.004 0.001 0.002 0.003

0.000 -0.001 0.001 0.001 0.000 0.000 0.002 0.001 0.001 0.002 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.002 0.002

0.001 0.002 0.002 0.003 0.002 0.002

-0.757 -0.400 -0.104 -0.106 -0.076 -0.076 0.327 0.168 0.010 -0.074 0.022 0.056 0.073 0.074 0.057 0.086 0.112

0.082 0.016 0.013

0.035 0.012 0.004

0.016 0.008 0.003

0.007 0.003 0.003

0.003

0.003

0.003

0.004

-0.209 -0.178 -0.114 -0.136 -0.124 -0.124 0.102 0.107 0.109 0.068

0.009 0.001

0.006 0.002

0.003 0.003

0.003 0.004

0.002

0.002

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.002

0.003

0.004


25.02.2013

Option Implied Volatility Skew Parameters by Terms: 2 IVt = atx + btx + ct

At The Money Implied Volatilities by Terms

Stoxx 600 Index

Ticker

ISIN

Name

GICS_SECTOR_NAME

STL NO Equity

NO0010096985

STATOIL ASA

Energy

STM IM Equity

NL0000226223

ATM3 Ref

Dividend Yield

Next ExDividend Date

144.10

4.68%

16.05.2014

19.19

20.15

19.40

18.13

17.74

18.72

35.55

34.98

ATM3 ATM3 ATM3 ATM3 ATM3 ATM3 ATM3 Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M -0.040 -0.107 -0.046 -0.059 -0.110 -0.093

33.73

0.030

0.011

0.006

0.008

0.003

0.001

0.007

0.001

0.001

0.001

0.002

0.002

0.002

0.037

0.010

0.002

0.002

0.076

0.054

0.032

0.004

0.010

0.008

0.006

0.002

0.015

0.002

0.001

0.001

0.002

0.003

0.004

-0.195 -0.116 -0.084 -0.027 -0.024 -0.066 -0.062 0.017

0.002

0.001

0.000

0.000

0.003

0.003

0.012

0.004

0.002

0.002

0.001

0.001

-0.198 -0.077 -0.080 -0.083 -0.060 -0.060

0.042

0.019

0.010

0.005

0.002

0.002

-0.204 0.049 -0.004 -0.076 -0.080 -0.080

STMICROELECTRONICS NV

Information Technology

6.19

4.86%

03.06.2013

37.09

37.24

37.92

37.02

STERV FH Equity FI0009005961

STORA ENSO OYJ-R SHS

Materials

4.98

6.02%

23.04.2014

23.88

23.08

24.39

25.47

-0.090 -0.028 0.012

0.042

STB NO Equity

NO0003053605

STOREBRAND ASA

Financials

27.58

17.04.2014

46.98

44.96

42.94

36.15

-0.377 -0.339 -0.301 -0.138

SUBC NO Equity

LU0075646355

SUBSEA 7 SA

Energy

135.80

2.07%

25.06.2013

33.49

31.80

30.10

28.13

SZU GY Equity

DE0007297004

SUEDZUCKER AG

Consumer Staples

33.06

2.72%

02.08.2013

21.46

21.50

21.61

22.66

23.11

23.00

21.96

-0.261 -0.058 -0.020 -0.026 -0.004 0.013

SEV FP Equity

FR0010613471

SUEZ ENVIRONNEMENT CO

Utilities

9.99

6.51%

27.05.2013

30.08

30.04

29.24

29.06

28.87

26.16

24.01

SUN VX Equity

CH0038388911

SULZER AG-REG

Industrials

164.10

1.95%

11.04.2014

18.72

19.50

19.64

20.61

21.37

21.73

-0.224 -0.092 -0.074 -0.115 -0.084 -0.082

SCAB SS Equity

SE0000112724

SVENSKA CELLULOSA AB-B SHS

Consumer Staples

157.10

2.86%

11.04.2014

17.74

18.38

19.00

18.69

20.08

20.08

SHBA SS Equity

SE0000193120

SVENSKA HANDELSBANKEN-A SHS

UHR VX Equity

CH0012255151

0.089

-0.185 -0.168 -0.150 -0.124

Financials

275.70

3.90%

26.03.2014

17.69

15.79

16.54

16.44

17.17

17.17

SWATCH GROUP AG/THE-BR

Consumer Discretionary

522.00

1.29%

21.05.2014

24.34

23.20

23.03

24.20

25.27

26.24

SWEDA SS Equity SE0000242455

SWEDBANK AB - A SHARES

Financials

156.20

6.34%

21.03.2014

19.02

17.75

18.59

18.65

19.35

19.35

SWMA SS Equity SE0000310336

SWEDISH MATCH AB

Consumer Staples

210.80

3.46%

05.05.2014

22.75

21.77

23.10

22.01

SLHN VX Equity

CH0014852781

SWISS LIFE HOLDING AG-REG

Financials

145.80

3.09%

26.04.2013

26.49

22.99

22.44

22.61

22.70

23.49

SPSN VX Equity

CH0008038389

SWISS PRIME SITE-REG

Financials

74.90

4.74%

22.04.2013

14.25

22.85

11.59

11.67

11.77

12.06

SREN VX Equity

CH0126881561

SWISS RE AG

Financials

76.05

4.61%

14.04.2014

16.97

16.76

17.25

17.60

18.33

19.02

19.16

SCMN VX Equity

CH0008742519

SWISSCOM AG-REG

Telecommunication Services 420.40

5.23%

11.04.2014

11.26

10.10

7.94

11.47

12.49

13.07

12.82

SYDB DC Equity

DK0010311471

SYDBANK A/S

Financials

114.50

SY1 GY Equity

DE000SYM9999

SYMRISE AG

Materials

28.97

2.42%

16.05.2013

27.41

23.77

23.32

23.37

23.61

23.90

SYNN VX Equity

CH0011037469

SYNGENTA AG-REG

Materials

391.50

2.43%

28.04.2014

17.51

17.41

16.67

17.86

18.62

18.89

TATE LN Equity

GB0008754136

TATE & LYLE PLC

Consumer Staples

798.00

3.31%

26.06.2013

12.80

13.02

13.25

14.07

TW/ LN Equity

GB0008782301

TAYLOR WIMPEY PLC

Consumer Discretionary

79.00

1.06%

17.04.2013

TDC DC Equity

DK0060228559

TDC A/S

Telecommunication Services 43.37

9.57%

09.08.2013

37.48

30.99

25.75

25.75

TEC FP Equity

FR0000131708

TECHNIP SA

Energy

83.97

2.00%

08.05.2013

26.70

26.61

27.07

27.48

27.96

27.33

TRE SQ Equity

ES0178165017

TECNICAS REUNIDAS SA

Energy

39.11

3.51%

11.07.2013

30.06

29.52

29.55

29.94

29.64

29.43

TEL2B SS Equity SE0000314312

TELE2 AB-B SHS

Telecommunication Services 105.40

6.74%

13.05.2014

17.57

18.14

16.09

17.97

19.16

19.16

TCY LN Equity

GB00B282YM11

TELECITY GROUP PLC

Information Technology

0.86%

14.08.2013

TIT IM Equity

IT0003497168

931.00

-0.171 -0.156 -0.108 -0.085 -0.014 0.023

0.048

0.065

0.034

0.023

0.009

0.006

0.006

-0.161 -0.149 -0.114 -0.110 -0.092 -0.064 -0.040 0.011

0.006

0.003

0.002

0.001

0.001

-0.211 0.100

0.050

0.023

0.014

0.007

0.004

0.004

0.028

0.007

0.003

0.003

-0.382 -0.202 -0.129 -0.105 -0.083 -0.066 -0.063 0.019

0.007

0.005

0.003

0.002

0.002

-0.107 -0.254 -0.036 -0.020 -0.031 -0.033

0.012

0.000

0.002

0.003

0.001

0.001

-0.171 -0.112 -0.123 -0.139 -0.121 -0.094 -0.073 0.026

0.012

0.010

0.005

0.003

0.002

0.001

-0.140 0.053 -0.015 -0.088 -0.083 -0.052 -0.050 0.025

0.012

0.009

0.007

0.004

0.004

0.003

23.86

-0.129 -0.014 0.081 -0.017 -0.029 -0.035 -0.024 0.011

0.001

0.003

0.002

0.002

0.002

0.002

18.87

-0.308 -0.133 -0.103 -0.156 -0.123 -0.095 -0.076 0.023

0.004

0.003

0.004

0.002

0.001

0.001

-0.285 -0.205 -0.126 -0.031

0.007

0.005

0.003

0.002

0.121

0.024

26.83

0.029 -0.035 -0.057 -0.057

-0.073 -0.013 0.041 24.34

0.013

0.000

0.002

14.03.2014

0.031

0.036

0.036

0.010

0.007

0.005

0.001

0.002

0.002

-0.129 -0.091 -0.085 -0.125 -0.115 -0.117 -0.108 0.004

0.184

0.216

0.216

0.002

0.001

0.001

0.001

0.002

-0.241 -0.259 -0.053 -0.054 -0.047 -0.047

0.049

0.027

0.019

0.007

0.004

0.004

-0.156 -0.124 -0.094 -0.045 -0.074 -0.064 29.22

0.001

TELECOM ITALIA SPA

Telecommunication Services 0.60

3.50%

20.05.2013

40.63

35.21

34.92

31.42

30.05

29.80

29.98

-0.280 -0.223 -0.470 -0.137 -0.105 -0.099 -0.043 0.017

0.006

0.004

0.002

0.001

0.001

0.001

ERICB SS Equity SE0000108656

ERICSSON LM-B SHS

Information Technology

3.47%

10.04.2014

22.14

23.02

25.93

25.32

27.28

27.28

27.28

-0.250 -0.077 -0.099 -0.094 -0.071 -0.071 -0.071 0.046

0.016

0.008

0.004

0.000

0.000

0.000

TEF SQ Equity

ES0178430E18

TELEFONICA SA

Telecommunication Services 9.98

2.50%

07.11.2013

24.45

23.19

23.21

23.41

24.48

24.20

27.88

0.448 -0.218 -0.181 -0.238 -0.133 -0.046 0.217

0.034

0.003

0.001

0.001

0.001

0.002 -0.003

TKA AV Equity

AT0000720008

TELEKOM AUSTRIA AG

Telecommunication Services 5.04

0.99%

31.05.2013

23.69

23.87

25.33

25.07

24.87

22.02

-0.437 0.192

0.053

0.020

0.004

0.008

0.002 -0.001

TNET BB Equity

BE0003826436

TELENET GROUP HOLDING NV

Telecommunication Services 38.44

20.56%

27.08.2013

TEL NO Equity

NO0010063308

TELENOR ASA

Telecommunication Services 123.20

4.87%

16.05.2014

17.68

21.09

21.44

19.62

0.040

0.016

RCF FP Equity

FR0000051807

TELEPERFORMANCE

Industrials

30.01

1.83%

03.06.2013

24.69

24.02

23.83

23.65

23.92

24.55

TLSN SS Equity

SE0000667925

TELIASONERA AB

Telecommunication Services 45.00

6.33%

04.04.2014

16.57

16.19

15.94

16.51

19.24

19.24

TEN IM Equity

LU0156801721

TENARIS SA

Energy

15.82

2.14%

18.11.2013

24.02

23.52

24.94

24.71

TRN IM Equity

IT0003242622

TERNA SPA

Utilities

3.18

5.98%

24.06.2013

15.24

15.44

15.87

16.27

15.26

15.26

TSCO LN Equity

GB0008847096

TESCO PLC

Consumer Staples

373.95

3.98%

24.04.2013

17.06

17.36

16.95

17.25

17.28

16.54

15.59

TGS NO Equity

NO0003078800

TGS NOPEC GEOPHYSICAL CO ASA

Energy

217.40

3.68%

04.06.2014

30.22

28.43

26.63

26.64

HO FP Equity

FR0000121329

THALES SA

Industrials

27.14

3.32%

28.05.2013

22.85

20.76

20.52

21.42

22.21

22.01

21.11

THR BB Equity

BE0003846632

THROMBOGENICS NV

Health Care

39.83

37.70

36.80

37.66

0.044 -0.042 -0.095

TKA GY Equity

DE0007500001

THYSSENKRUPP AG

Materials

17.82

1.68%

20.01.2014

27.75

27.78

28.87

29.55

30.44

30.81

31.96

-0.202 -0.103 -0.099 -0.086 -0.060 -0.021 0.000

TNTE NA Equity

NL0009739424

TNT EXPRESS NV

Industrials

5.79

0.52%

11.04.2014

24.68

28.23

28.02

27.93

27.95

27.95

27.95

-0.106 0.077

TOD IM Equity

IT0003007728

TOD'S SPA

Consumer Discretionary

106.90

2.57%

20.05.2013

TOP DC Equity

DK0010259530

TOPDANMARK A/S

Financials

1314.00

FP FP Equity

FR0000120271

TOTAL SA

Energy

17.66

TPK LN Equity

GB0007739609

79.15

0.003

0.121

0.338

0.488

-0.224 -0.108 -0.032 -0.099 19.24

0.005

0.005

0.011 -0.001 0.000

0.000

0.000

0.000

0.062

0.035

0.028

0.011

0.009

0.009

-0.261 -0.166 -0.142 -0.085

0.010

0.003

0.003

0.002

-0.343 -0.316 -0.259 -0.133 -0.083 -0.083

0.032

0.009

0.007

0.004

0.002

0.002

-0.270 -0.218 -0.061 -0.100 -0.045 -0.011 -0.021 0.012

0.006

0.004

0.003

0.002

0.002

0.003

-0.347 -0.315 -0.283 -0.244

0.024

0.019

0.013

0.007

-0.222 -0.214 -0.195 -0.123 -0.115 -0.071 -0.093 0.025

0.007

0.005

0.003

0.001

0.000

0.001

0.008

0.005

0.006

0.021

0.006

0.004

0.002

0.001

0.000 -0.001

0.010 -0.031 -0.038 -0.038 -0.038 0.038

0.004

0.002

0.002

0.001

0.001

0.001

-0.187 -0.153 -0.201 -0.158 -0.082 -0.117 -0.036 0.029

0.010

0.008

0.005

0.002

0.002

0.001

-0.075 -0.201 -0.170 -0.133 -0.508 -0.508

0.013

0.008

0.007

0.003

0.018

0.018

-0.096 0.016

0.011

0.046

0.058

-0.181 0.101

0.140 -0.024 0.008

0.044

0.008

0.008

38.90

6.11%

24.09.2013

18.96

18.26

18.64

18.69

18.67

18.55

TRAVIS PERKINS PLC

Industrials

1270.00

2.09%

09.10.2013

TRELB SS Equity SE0000114837

TRELLEBORG AB-B SHS

Industrials

91.95

3.26%

25.04.2014

38.72

29.13

26.14

23.99

24.55

24.55

TRYG DC Equity

DK0060013274

TRYG A/S

Financials

451.40

5.76%

22.04.2014

18.09

16.69

16.84

18.14

-0.052 -0.066 -0.027 -0.010

0.003

0.001

0.000

0.000

TT/ LN Equity

GB00B1Z7RQ77

TUI TRAVEL PLC

Consumer Discretionary

321.90

3.70%

04.09.2013

TLW LN Equity

GB0001500809

TULLOW OIL PLC

Energy

1248.00

1.00%

04.09.2013

24.64

25.33

25.84

26.44

-0.084 -0.075 -0.064 -0.042

0.001

0.001

0.000

0.000

UBM LN Equity

JE00B2R84W06

UBM PLC

Consumer Discretionary

774.50

3.67%

10.04.2013

UBSN VX Equity

CH0024899483

UBS AG-REG

Financials

15.04

1.00%

07.05.2013

25.44

24.47

25.42

25.62

26.33

27.22

-0.368 -0.261 -0.199 -0.191 -0.163 -0.176 -0.180 0.032

0.012

0.007

0.004

0.002

0.002

UCB BB Equity

BE0003739530

UCB SA

Health Care

26.10

23.56

23.75

24.53

25.17

25.17

-0.108 -0.130 -0.082 -0.077 -0.061 -0.061

0.015

0.004

0.002

0.003

0.001

0.001

ULE LN Equity

GB0009123323

ULTRA ELECTRONICS HLDGS PLC

Industrials

UMI BB Equity

BE0003884047

UMICORE

-0.069 -0.120 -0.106 -0.114 -0.093 -0.093

UL FP Equity

FR0000124711

UNIBAIL-RODAMCO SE

UCG IM Equity

IT0004781412

UNICREDIT SPA

UNA NA Equity

NL0000009355

ULVR LN Equity

28.09

0.009

0.001

43.69

2.36%

02.05.2013

1662.00

2.48%

10.04.2013

Materials

38.45

2.73%

06.09.2013

24.34

23.29

23.98

23.54

24.64

24.64

0.015

0.003

0.002

0.003

0.001

0.001

Financials

175.65

4.78%

07.05.2013

18.61

17.85

17.52

18.66

19.36

19.36

19.36

-0.318 -0.200 -0.127 -0.145 -0.137 -0.137 -0.137 0.022

0.005

0.005

0.005

0.003

0.003

0.003

Financials

4.28

1.52%

20.05.2013

47.55

41.30

40.64

38.16

37.15

36.74

37.44

-0.342 -0.306 -0.271 -0.215 -0.157 -0.139 -0.178 0.011

0.006

0.004

0.002

0.002

0.001

0.000

UNILEVER NV-CVA

Consumer Staples

29.88

3.41%

08.05.2013

13.89

13.67

14.52

15.30

16.49

17.30

17.99

-0.171 -0.074 -0.082 -0.136 -0.098 -0.064 -0.029 0.035

0.005

0.005

0.005

0.003

0.002

0.001

GB00B10RZP78

UNILEVER PLC

Consumer Staples

2655.00

3.38%

08.05.2013

14.78

14.00

15.06

15.41

15.57

15.57

-0.042 -0.095 -0.182 -0.127 -0.129 -0.129

0.004

0.011

0.004

0.004

0.003

0.003

UBI IM Equity

IT0003487029

UBI BANCA SCPA

Financials

3.72

1.35%

20.05.2013

39.42

36.32

36.73

35.01

34.85

34.85

-0.267 -0.295 -0.237 -0.194 -0.143 -0.143

0.003

0.001

0.001

0.003

0.002

0.002

UTDI GY Equity

DE0005089031

UNITED INTERNET AG-REG SHARE

22.91

23.38

0.002

0.001

UU/ LN Equity

GB00B39J2M42

Information Technology

17.73

1.69%

03.06.2013

16.93

18.58

19.42

21.54

-0.319 -0.222 -0.123 -0.120 -0.093 -0.095 -0.074 0.028

UNITED UTILITIES GROUP PLC

Utilities

736.50

4.74%

19.06.2013

25.54

24.34

23.15

22.32

0.326

UPM1V FH Equity FI0009005987

UPM-KYMMENE OYJ

Materials

8.90

6.74%

08.04.2014

27.26

27.31

28.00

27.77

23.42

-0.081 0.025

FR FP Equity

FR0000130338

VALEO SA

Consumer Discretionary

42.58

3.52%

27.06.2013

27.56

28.24

28.92

30.53

31.13

31.13

VATN SE Equity

CH0014786500

VALIANT HOLDING AG-REG

Financials

84.35

3.79%

24.05.2013

36.53

36.58

36.61

35.68

33.41

34.31

VK FP Equity

FR0000120354

VALLOUREC

Industrials

42.57

1.62%

05.06.2014

31.68

30.77

33.09

32.81

33.27

33.28

VED LN Equity

GB0033277061

VEDANTA RESOURCES PLC

Materials

1218.00

3.15%

14.08.2013

40.25

39.33

38.40

39.40

VIE FP Equity

FR0000124141

VEOLIA ENVIRONNEMENT

Utilities

9.48

7.39%

22.05.2013

48.11

37.94

37.31

36.35

34.48

30.89

VER AV Equity

AT0000746409

VERBUND AG

Utilities

16.62

3.31%

24.04.2013

25.82

24.27

24.72

23.90

25.35

33.17

VSVS LN Equity

GB00B82YXW83

VESUVIUS PLC

Industrials

379.60

3.69%

01.05.2013

VCT LN Equity

GB0009292243

VICTREX PLC

Materials

1594.00

2.48%

05.06.2013

VIG AV Equity

AT0000908504

VIENNA INSURANCE GROUP AG

Financials

38.86

3.09%

13.05.2013

18.29

18.37

17.51

19.62

18.73

14.27

DG FP Equity

FR0000125486

VINCI SA

Industrials

36.30

4.88%

11.11.2013

22.48

23.11

22.62

23.51

25.72

25.81

26.26

VIS SQ Equity

ES0184262212

VISCOFAN SA

Consumer Staples

40.35

2.73%

05.06.2013

29.01

28.94

29.00

29.65

30.60

29.52

29.45

-0.089 -0.104 -0.099 -0.136 -0.173 -0.121 -0.106 0.001

VIV FP Equity

FR0000127771

VIVENDI

Telecommunication Services 16.06

6.23%

06.05.2013

40.17

33.93

34.77

31.90

30.07

30.06

28.54

-0.070 -0.125 -0.044 -0.030 -0.040 0.045

0.090

VOD LN Equity

GB00B16GWD56

VODAFONE GROUP PLC

Telecommunication Services 163.90

6.27%

05.06.2013

21.78

21.56

20.91

20.41

18.32

14.36

14.32

-0.149 -0.015 -0.103 -0.046 0.003

0.059

0.043

VOE AV Equity

AT0000937503

-0.011 0.085 -0.052 -0.068 0.417

0.655

33.18 29.45

0.004

0.003

0.003

0.015

0.006

0.004

0.003

0.001

0.031 -0.051

0.023

0.003

0.001

0.000

-0.144 -0.130 -0.116 -0.078 -0.072 -0.072

0.022

0.013

0.218

0.111

0.015

0.008

0.001

0.001

0.001

0.001

0.000

0.000

0.000

0.000

0.000

-0.208 -0.176 -0.160 -0.106 -0.085 -0.077 -0.088 0.015

0.006

0.004

0.003

0.001

0.000

0.001

-0.102 -0.125 -0.149 -0.270

0.004

0.003

0.002 -0.001

0.006

0.005

0.002

0.000 -0.001 0.000

0.003

0.003

0.004 -0.019 -0.035 -0.068

0.064 -0.120 -0.036 0.104

0.036

0.197

0.017

-0.228 -0.012 -0.026 0.136

0.518

0.758

0.067

0.024

0.010

0.020

0.005 -0.005

-0.238 0.006 -0.063 0.114

0.433

0.691

0.075

0.022

0.006

0.018

0.007

-0.199 -0.169 -0.151 -0.142 -0.146 -0.098 -0.133 0.022

0.009

0.007

0.003

0.001 -0.001 0.002

0.001

0.001

0.001

0.001

0.008

0.003

0.001

0.001 -0.001 -0.003 -0.005

0.009

0.010

0.004

0.002

VOESTALPINE AG

Materials

25.89

3.28%

08.07.2013

23.19

25.04

25.11

26.97

29.15

32.44

VOW3 GY Equity DE0007664039

VOLKSWAGEN AG-PREF

Consumer Discretionary

167.55

2.12%

22.04.2014

26.91

24.24

24.69

23.06

23.96

25.47

VOLVB SS Equity SE0000115446

VOLVO AB-B SHS

Industrials

99.50

3.02%

03.04.2014

19.38

19.87

21.66

23.69

26.14

26.14

WRT1V FH Equity FI0009003727

WARTSILA OYJ ABP

Industrials

36.13

2.77%

10.03.2014

WEIR LN Equity

GB0009465807

WEIR GROUP PLC/THE

Industrials

2172.00

1.74%

01.05.2013

MF FP Equity

FR0000121204

WENDEL

Financials

85.47

1.64%

07.06.2013

19.26

19.81

20.88

23.33

24.70

24.99

WHA NA Equity

NL0000289213

WERELDHAVE NV

Financials

54.53

6.05%

22.04.2014

15.49

15.10

15.43

16.23

16.68

16.68

WTB LN Equity

GB00B1KJJ408

WHITBREAD PLC

Consumer Discretionary

2588.00

2.25%

15.05.2013

16.71

16.91

17.35

16.57

WDH DC Equity

DK0010268440

WILLIAM DEMANT HOLDING

Health Care

482.80

WMH LN Equity

GB0031698896

WILLIAM HILL PLC

Consumer Discretionary

402.80

2.83%

01.05.2013

23.54

23.12

23.14

22.85

WIN GY Equity

DE000A0CAYB2

WINCOR NIXDORF AG

Information Technology

38.92

3.39%

21.01.2014

26.46

26.58

27.46

27.55

29.48

29.60

30.46

WDI GY Equity

DE0007472060

WIRECARD AG

Information Technology

19.89

0.60%

24.06.2013

28.45

28.64

28.82

29.42

29.07

29.55

29.48

-0.168 -0.120 -0.103 -0.174 -0.129 -0.126 -0.100 0.018

MRW LN Equity

GB0006043169

WM MORRISON SUPERMARKETS

Consumer Staples

263.80

4.63%

15.05.2013

16.92

15.29

15.08

14.92

0.193 -0.081 -0.057 -0.012

WOS LN Equity

JE00B8N69M54

WOLSELEY PLC

Industrials

3059.00

2.26%

03.04.2013

18.66

19.13

19.45

19.33

0.019

WKL NA Equity

NL0000395903

WOLTERS KLUWER

Consumer Discretionary

15.24

4.53%

26.04.2013

17.13

16.61

16.83

17.29

WPP LN Equity

JE00B8KF9B49

WPP PLC

Consumer Discretionary

1044.00

2.80%

05.06.2013

25.33

23.85

22.37

21.42

XTA LN Equity

GB0031411001

XSTRATA PLC

Materials

1133.50

2.51%

01.05.2013

30.49

26.90

25.59

25.43

YAR NO Equity

NO0010208051

22.83

YARA INTERNATIONAL ASA

Materials

282.30

4.61%

09.05.2014

21.80

20.66

22.86

YTY1V FH Equity FI0009800643

YIT OYJ

Industrials

17.38

4.32%

18.03.2014

27.89

27.89

27.89

ZOT SQ Equity

12.03.2013

ES0184933812

25.56

16.68

17.95

18.70

19.39

25.84

26.22

25.81

ZARDOYA OTIS SA

Industrials

10.81

4.35%

ZIGGO NA Equity NL0006294290

ZIGGO NV

Telecommunication Services 26.20

3.44%

22.94

24.04

23.03

23.79

ZC FP Equity

FR0000125684

ZODIAC AEROSPACE

Industrials

85.91

2.04%

13.01.2014

22.46

21.88

22.34

23.19

24.31

24.30

ZURN VX Equity

CH0011075394

ZURICH INSURANCE GROUP AG

Financials

255.00

6.67%

02.04.2014

15.86

14.95

14.98

15.42

15.58

16.02

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security

0 #N/A Invalid Security 0 #N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security #N/A Invalid Security #N/A Invalid Security

#N/A Invalid Security #N/A Invalid Security

16.04

0.001

0.003

0.004 0.001 0.006

0.068

0.018

0.004

0.004 -0.004 -0.009

-0.436 -0.285 -0.291 -0.283 -0.225 -0.187 -0.149 0.020

0.007

0.005

0.005

0.003

0.001

-0.163 -0.052 -0.118 -0.105 -0.107 -0.107

0.047

0.020

0.011

0.003

0.001

0.001

-0.260 -0.096 -0.092 -0.133 -0.149 -0.158

0.012

0.003

-0.312 -0.182 -0.065 -0.097 -0.110 -0.110 -0.110 0.034 0.057

0.001 0.004 0.001

0.004

0.005

0.002

0.002

0.004

0.003

0.006

0.003

0.003

0.003

0.019 -0.019 -0.046

0.001

0.003

0.006

0.011

-0.046 -0.035 -0.026 -0.018

0.001

0.001

0.001

0.001

-0.330 -0.146 -0.128 -0.118 -0.075 -0.077 -0.078 0.011

0.002

0.002

0.002

0.001

0.001

0.002

0.003

0.001

0.000

0.000

0.000

0.000

0.009

0.003

0.002

0.001

0.003

0.003

0.004

0.004

-0.221 -0.097 -0.087 -0.120 -0.101 -0.089 -0.085 0.035

0.003

0.002

0.002

-0.144 -0.131 -0.119 -0.094

0.001

0.001

0.001

0.004 -0.012 -0.017

0.011

0.008

0.006

0.006

0.005

0.005

0.002

-0.400 -0.177 -0.136 -0.150 -0.111 -0.069 -0.036 0.018

0.003

0.003

0.003

-0.049 -0.113 -0.151 -0.154

0.008

0.004

0.001

0.002

-0.158 -0.158 -0.158

0.004

0.004

0.004

-0.142 -0.241 -0.063 -0.233

0.030

0.010

0.003

0.005

-0.311 -0.179 -0.157 -0.192 -0.154 -0.130

0.009

0.002

0.001

0.002

0.001

0.001

-0.167 -0.030 -0.087 -0.117 -0.127 -0.101 -0.062 0.029

0.013

0.009

0.007

0.003

0.002

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

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