Page 1

06.08.2013

At The Money Implied Volatilities by Terms

Stoxx 600 Index

Ticker

Name

GICS_SECTOR_NAME

ATM Ref

Dividend Yield

Next ExDividend Date

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

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

NESN VX Equity

NESTLE SA-REG

Consumer Staples

64.95

3.31%

16.04.2014

15.09

13.47

13.47

13.79

13.46

14.12

14.46

-0.230 -0.192 -0.213 -0.186 -0.110 -0.079 -0.044 0.039

0.018

0.012

0.006

0.003

0.002

0.002

HSBA LN Equity

HSBC HOLDINGS PLC

Financials

716.80

4.54%

23.10.2013

20.76

18.96

19.25

19.66

19.93

20.71

20.81

-0.375 -0.215 -0.135 -0.155 -0.077 -0.035 -0.101 0.020

0.009

0.005

0.005

0.003

0.003

0.001

NOVN VX Equity

NOVARTIS AG-REG

Health Care

68.20

3.52%

28.02.2014

14.42

14.38

14.71

15.12

15.86

16.07

16.10

-0.154 -0.113 -0.115 -0.097 -0.062 -0.045 -0.017 0.037

0.013

0.008

0.003

0.002

0.001

0.001

ROG VX Equity

ROCHE HOLDING AG-GENUSSCHEIN

Health Care

232.20

3.53%

10.03.2014

19.20

19.13

19.27

18.39

18.63

19.23

20.20

-0.190 -0.172 -0.180 -0.132 -0.072 -0.054 -0.026 0.026

0.008

0.005

0.003

0.002

0.001

0.000

VOD LN Equity

VODAFONE GROUP PLC

Telecommunication Services 198.00

5.30%

20.11.2013

23.73

22.93

22.89

23.21

22.67

22.06

20.27

-0.357 -0.157 -0.090 -0.055 -0.020 0.020

0.012

0.006

0.003

0.002

0.001

0.001

0.000

BP/ LN Equity

BP PLC

Energy

455.40

5.21%

06.11.2013

15.51

15.59

16.20

17.64

18.00

17.84

17.99

-0.250 -0.201 -0.119 -0.106 -0.111 -0.094 -0.090 0.009

0.008

0.004

0.003

0.002

0.001

0.000

SAN FP Equity

SANOFI

Health Care

77.99

3.67%

09.05.2014

20.47

20.65

21.46

22.64

23.01

23.75

22.85

-0.077 -0.122 -0.144 -0.142 -0.079 -0.076 -0.106 0.025

0.008

0.005

0.003

0.002

0.000

0.002

GSK LN Equity

GLAXOSMITHKLINE PLC

Health Care

1691.50

4.73%

13.11.2013

15.56

15.85

16.10

16.26

16.72

14.67

6.39

-0.101 -0.111 -0.138 -0.093 -0.051 -0.025 0.020

0.010

0.010

0.007

0.004

0.003

0.001

0.001

RDSA NA Equity

ROYAL DUTCH SHELL PLC-A SHS

Energy

24.26

5.64%

13.11.2013

14.12

13.79

13.80

13.73

13.79

13.99

13.42

0.190 -0.018 -0.057 -0.096 -0.059 -0.016 0.029

0.031

0.012

0.005

0.006

0.004

0.003

0.003

BATS LN Equity

BRITISH AMERICAN TOBACCO PLC

Consumer Staples

3510.00

2.56%

12.03.2014

18.02

17.36

17.68

18.37

-0.165 -0.187 -0.159 -0.166

0.009

0.006

0.004

0.003

FP FP Equity

TOTAL SA

Energy

40.31

5.90%

24.03.2014

15.46

16.00

16.29

17.45

18.42

18.49

17.67

-0.215 -0.155 -0.166 -0.173 -0.085 -0.063 -0.075 0.038

0.013

0.007

0.004

0.003

0.004

0.006

BAYN GY Equity

BAYER AG-REG

Health Care

90.49

2.21%

28.04.2014

21.93

21.95

22.16

23.00

24.09

24.72

24.73

-0.274 -0.235 -0.194 -0.140 -0.071 -0.053 -0.038 0.027

0.008

0.005

0.003

0.001

0.000

0.000

SIE GY Equity

SIEMENS AG-REG

Industrials

84.65

3.54%

24.01.2014

18.97

18.04

18.16

19.44

20.29

21.55

21.84

-0.133 -0.116 -0.122 -0.087 -0.054 -0.031 0.005

0.031

0.011

0.007

0.003

0.001

0.000 -0.001

BAS GY Equity

BASF SE

Materials

66.51

4.06%

02.05.2014

20.91

20.83

21.22

22.28

23.24

22.61

24.44

-0.159 -0.123 -0.115 -0.092 -0.012 0.012

0.028

0.009

0.005

0.002

0.000 -0.001 -0.002

DGE LN Equity

DIAGEO PLC

Consumer Staples

2141.00

SAP GY Equity

SAP AG

Information Technology

0.047

0.048

2.26%

26.02.2014

17.36

17.42

17.64

18.10

18.86

18.48

16.16

-0.109 -0.068 -0.099 -0.116 -0.076 -0.086 -0.102 0.011

0.012

0.006

0.004

0.002

0.002

0.001

57.02

1.67%

26.05.2014

17.47

18.57

19.52

21.29

22.60

23.61

24.21

-0.236 -0.241 -0.239 -0.199 -0.132 -0.103 -0.078 0.035

0.011

0.006

0.003

0.001

0.001

0.000

971.50

2.16%

20.03.2014

22.64

21.06

21.06

21.25

-0.058 -0.027 -0.020 -0.010

0.001

0.000

0.000

0.000

74.48

2.42%

16.10.2013

22.82

20.00

19.48

23.06

22.47

22.47

-0.268 -0.113 -0.090 -0.102 -0.128 -0.128

0.018

0.007

0.005

0.001

0.000

0.000

Financials

5.54

9.16%

14.10.2013

27.95

25.95

25.79

26.62

25.09

26.96

27.22

-0.271 -0.291 -0.251 -0.236 -0.184 -0.254 -0.247 0.003

0.003

0.002

0.002

0.003

0.002

0.002

Financials

119.85

4.01%

08.05.2014

21.20

20.92

21.08

21.81

23.36

23.84

23.92

-0.214 -0.192 -0.182 -0.152 -0.084 -0.059 -0.059 0.026

0.007

0.005

0.003

0.001

0.000

0.000

30.21

3.60%

06.11.2013

14.30

14.57

14.89

15.63

16.38

16.47

16.08

0.027 -0.057 -0.061 -0.120 -0.080 -0.060 -0.040 0.036

0.012

0.005

0.005

0.003

0.002

0.003

Financials

18.97

1.21%

06.05.2014

21.69

21.39

22.05

23.37

24.44

24.92

25.27

-0.265 -0.259 -0.246 -0.199 -0.166 -0.149 -0.136 0.037

0.013

0.009

0.004

0.002

0.001

0.001

ENI SPA

Energy

17.17

6.41%

19.05.2014

19.36

19.81

19.18

19.94

19.38

19.34

18.44

-0.313 -0.199 -0.151 -0.119 -0.070 -0.040 -0.042 0.035

0.013

0.008

0.003

0.002

0.002

0.003

AZN LN Equity

ASTRAZENECA PLC

Health Care

3283.50

5.55%

12.02.2014

14.05

15.29

15.74

16.08

16.79

16.81

15.30

-0.218 -0.069 -0.032 -0.083 -0.054 -0.044 -0.068 0.016

0.009

0.007

0.004

0.002

0.001

0.002

BG/ LN Equity

BG GROUP PLC

Energy

1201.50

1.56%

16.04.2014

19.24

20.77

21.53

22.93

23.23

23.23

-0.446 -0.177 -0.175 -0.139 -0.117 -0.117

0.023

0.008

0.002

0.002

0.001

0.001

BNP FP Equity

BNP PARIBAS

Financials

49.74

3.42%

30.05.2014

28.19

27.55

27.84

28.64

28.65

28.73

28.97

-0.238 -0.211 -0.199 -0.166 -0.113 -0.076 -0.094 0.021

0.006

0.005

0.003

0.002

0.002

0.001

BLT LN Equity

BHP BILLITON PLC

Materials

1885.00

4.18%

04.09.2013

26.86

26.26

26.43

25.91

26.19

27.08

26.71

-0.141 -0.122 -0.114 -0.107 -0.055 -0.031 0.046

0.010

0.006

0.002

0.002

0.002

0.001

0.001

DAI GY Equity

DAIMLER AG-REGISTERED SHARES

Consumer Discretionary

54.28

4.05%

10.04.2014

24.38

24.64

24.99

25.90

26.42

26.91

26.33

-0.273 -0.197 -0.173 -0.120 -0.058 -0.038 -0.024 0.030

0.009

0.005

0.002

0.001

0.001

0.003

TEF SQ Equity

TELEFONICA SA

Telecommunication Services 10.90

6.88%

11.11.2013

23.67

23.15

23.09

24.01

24.76

24.84

26.35

-0.144 -0.181 -0.171 -0.142 -0.131 0.020

0.003

0.002

0.002

0.001

0.001 -0.001 -0.005

ULVR LN Equity

UNILEVER PLC

Consumer Staples

2652.00

3.53%

06.11.2013

15.41

15.60

16.14

16.96

17.06

17.06

-0.126 -0.148 -0.117 -0.111 -0.099 -0.099

0.005

0.008

0.008

0.005

0.004

0.004

SAB LN Equity

SABMILLER PLC

Consumer Staples

3223.50

2.11%

04.12.2013

21.69

21.66

21.59

21.53

-0.129 -0.126 -0.120 -0.103

0.009

0.008

0.006

0.004

RIO LN Equity

RIO TINTO PLC

Materials

3004.00

3.90%

14.08.2013

28.87

29.05

29.44

29.59

30.19

31.26

31.52

-0.119 -0.134 -0.126 -0.106 -0.080 -0.060 -0.034 0.012

0.005

0.003

0.001

0.000

0.000

BARC LN Equity

BARCLAYS PLC

Financials

283.60

2.64%

06.11.2013

28.49

28.36

28.72

28.64

29.89

30.93

30.54

-0.167 -0.201 -0.183 -0.147 -0.120 -0.157 -0.211 0.015

0.009

0.002

0.002

0.002

0.001 -0.002

BBVA SQ Equity

BANCO BILBAO VIZCAYA ARGENTA

Financials

7.20

5.21%

30.09.2013

26.56

26.48

26.73

27.46

27.64

27.27

27.57

-0.228 -0.260 -0.212 -0.207 -0.177 -0.188 -0.181 0.002

0.002

0.001 -0.001 -0.002 -0.001 -0.001

ABBN VX Equity

ABB LTD-REG

Industrials

20.65

3.39%

30.04.2014

17.53

17.33

17.94

19.07

20.15

20.62

20.64

-0.011 -0.122 -0.119 -0.157 -0.103 -0.093 -0.093 0.033

0.012

0.006

0.004

0.002

0.001

NG/ LN Equity

NATIONAL GRID PLC

Utilities

782.00

5.38%

04.12.2013

18.78

17.00

16.48

16.66

16.97

16.97

-0.124 -0.120 -0.057 -0.059 -0.057 -0.057

0.005

0.005

0.003

0.003

0.003

0.003

RB/ LN Equity

RECKITT BENCKISER GROUP PLC

Consumer Staples

4688.00

2.94%

19.02.2014

19.57

18.97

18.96

19.30

19.42

19.42

-0.195 -0.071 -0.067 -0.074 -0.061 -0.061

0.011

0.006

0.003

0.002

0.002

0.002

STAN LN Equity

STANDARD CHARTERED PLC

Financials

1569.00

3.73%

05.03.2014

25.97

24.87

24.63

24.04

24.11

24.11

-0.255 -0.077 -0.066 -0.081 -0.062 -0.062

0.021

0.009

0.003

0.003

0.002

0.002

MC FP Equity

LVMH MOET HENNESSY LOUIS VUI

Consumer Discretionary

140.90

2.27%

22.04.2014

21.94

22.13

22.33

22.60

23.42

23.66

22.65

-0.139 -0.142 -0.142 -0.116 -0.090 -0.085 -0.097 0.023

0.006

0.005

0.003

0.002

0.001

0.002

PRU LN Equity

PRUDENTIAL PLC

Financials

1206.00

2.54%

21.08.2013

28.67

26.78

26.48

26.37

25.81

24.22

23.33

-0.398 -0.270 -0.224 -0.178 -0.122 -0.085 -0.055 0.016

0.009

0.005

0.002

0.001

0.002

0.003

BN FP Equity

DANONE

Consumer Staples

59.79

2.59%

06.05.2014

20.18

20.59

21.37

21.48

22.02

22.37

21.53

-0.221 -0.202 -0.181 -0.137 -0.072 -0.053 -0.030 0.030

0.009

0.006

0.003

0.001

0.001

0.001

CFR VX Equity

CIE FINANCIERE RICHEMON-BR A

Consumer Discretionary

94.10

1.06%

15.09.2014

26.18

27.12

27.33

28.28

28.07

28.39

28.26

-0.323 -0.158 -0.139 -0.123 -0.092 -0.079 -0.066 0.015

0.004

0.003

0.002

0.001

0.001

0.001

CSGN VX Equity

CREDIT SUISSE GROUP AG-REG

Financials

27.83

2.69%

30.04.2014

24.46

24.55

24.95

25.87

26.60

26.54

26.14

-0.274 -0.233 -0.211 -0.188 -0.152 -0.139 -0.150 0.031

0.011

0.007

0.003

0.002

0.001

0.002

DBK GY Equity

DEUTSCHE BANK AG-REGISTERED

Financials

34.04

2.20%

23.05.2014

24.67

26.06

26.88

28.28

28.08

28.75

29.50

-0.206 -0.158 -0.148 -0.123 -0.071 -0.062 -0.062 0.025

0.005

0.005

0.002

0.001

0.001

0.000

TSCO LN Equity

TESCO PLC

Consumer Staples

371.00

3.98%

09.10.2013

17.12

17.84

18.86

18.87

19.20

19.82

17.95

-0.565 -0.159 -0.093 -0.098 -0.045 -0.032 -0.033 0.025

0.008

0.003

0.003

0.001

0.000

0.002

GLEN LN Equity

GLENCORE XSTRATA PLC

Materials

282.05

3.85%

28.08.2013

34.97

34.45

33.88

32.98

31.35

28.60

30.56

-0.041 -0.133 -0.126 -0.094 -0.082 -0.068 -0.066 0.017

0.006

0.004

0.002

0.001

0.000

0.003

OR FP Equity

L'OREAL

Consumer Staples

129.65

1.85%

28.04.2014

19.81

20.64

20.78

21.40

22.89

22.83

22.24

-0.213 -0.196 -0.172 -0.149 -0.098 -0.076 -0.097 0.027

0.006

0.005

0.003

0.001

0.001

0.001

SU FP Equity

SCHNEIDER ELECTRIC SA

Industrials

61.87

3.15%

02.05.2014

26.43

26.31

26.87

28.07

29.15

28.43

29.01

-0.207 -0.165 -0.160 -0.123 -0.065 -0.034 -0.094 0.022

0.006

0.004

0.002

0.001

0.001

0.000

ZURN VX Equity

ZURICH INSURANCE GROUP AG

Financials

255.10

6.86%

02.04.2014

17.77

16.61

16.53

16.77

16.20

16.45

16.76

-0.254 -0.206 -0.201 -0.182 -0.089 -0.062 -0.033 0.031

0.014

0.010

0.005

0.003

0.002

0.002

CS FP Equity

AXA SA

Financials

17.35

4.61%

05.05.2014

23.37

23.80

24.34

25.49

26.72

27.41

26.77

-0.275 -0.164 -0.181 -0.132 -0.038 -0.028 -0.064 0.030

0.010

0.006

0.003

0.001

0.000

0.002

AI FP Equity

AIR LIQUIDE SA

Materials

100.15

2.70%

12.05.2014

15.10

15.74

16.29

17.50

18.31

18.61

18.63

-0.186 -0.154 -0.173 -0.183 -0.099 -0.107 -0.095 0.032

0.010

0.008

0.004

0.003

0.004

0.003

BT/A LN Equity

BT GROUP PLC

Telecommunication Services 337.80

2.90%

23.12.2013

22.02

21.69

22.13

23.39

23.48

23.57

22.88

-0.317 -0.133 -0.087 -0.087 -0.063 -0.048 -0.115 0.022

0.010

0.005

0.003

0.002

0.001

0.001

SYNN VX Equity

SYNGENTA AG-REG

Materials

369.00

2.79%

28.04.2014

17.31

17.98

18.62

19.03

19.00

18.77

18.64

-0.135 -0.179 -0.182 -0.158 -0.104 -0.073 -0.053 0.024

0.012

0.008

0.004

0.002

0.002

0.003

LLOY LN Equity

LLOYDS BANKING GROUP PLC

Financials

74.62

26.02.2014

28.57

26.65

26.63

27.09

28.33

29.46

33.09

-0.098 -0.265 -0.184 -0.091 -0.117 0.102

0.015

0.012

0.010

0.005

0.000

0.003

0.000

ERICB SS Equity ERICSSON LM-B SHS

Information Technology

79.00

3.67%

10.04.2014

19.53

21.09

22.05

24.01

27.07

27.07

27.07

-0.206 -0.159 -0.149 -0.118 -0.072 -0.072 -0.072 0.052

0.017

0.009

0.003

0.002

0.002

0.002

DTE GY Equity

DEUTSCHE TELEKOM AG-REG

Telecommunication Services 9.13

5.48%

19.05.2014

26.01

22.42

21.49

21.22

21.08

21.16

20.32

-0.148 -0.024 -0.004 -0.037 0.008

0.037

0.012

0.007

0.004

0.002

0.001

0.002

LIN GY Equity

LINDE AG

Materials

144.85

2.07%

07.05.2014

18.16

18.14

18.41

19.14

20.07

20.64

20.30

-0.199 -0.190 -0.185 -0.153 -0.095 -0.070 -0.040 0.029

0.008

0.006

0.003

0.002

0.001

0.002

RR/ LN Equity

ROLLS-ROYCE HOLDINGS PLC

Industrials

1190.00

1.85%

23.04.2014

23.12

23.31

23.91

24.54

-0.087 -0.082 -0.070 -0.048

0.005

0.005

0.003

0.001

IMT LN Equity

IMPERIAL TOBACCO GROUP PLC

Consumer Staples

2200.00

5.43%

15.01.2014

17.12

17.12

17.12

17.65

-0.019 -0.028 -0.046 -0.050

0.014

0.012

0.009

0.004

INGA NA Equity

ING GROEP NV-CVA

Financials

08.08.2013

32.41

27.88

28.14

29.43

29.50

29.80

30.92

-0.474 -0.181 -0.155 -0.176 -0.129 -0.114 -0.069 0.019

0.008

0.003

0.003

0.002

0.002

0.000

EOAN GY Equity

E.ON SE

Utilities

12.18

6.16%

09.05.2014

24.03

21.92

21.75

22.58

23.51

22.34

20.23

-0.191 -0.148 -0.141 -0.111 0.044

0.034

0.008

0.005

0.002

0.000

0.001

0.005

HMB SS Equity

HENNES & MAURITZ AB-B SHS

Consumer Discretionary

245.40

4.07%

24.04.2014

9.27

10.81

17.03

17.89

19.11

0.056

0.024

0.013

0.005

0.002

AAL LN Equity

ANGLO AMERICAN PLC

Materials

1445.00

3.87%

19.03.2014

34.19

34.34

34.48

34.12

34.27

34.03

32.34

-0.108 -0.115 -0.102 -0.045 -0.070 -0.058 -0.099 0.016

0.003

0.002

0.000

0.000

0.001

0.002

MUV2 GY Equity

MUENCHENER RUECKVER AG-REG

Financials

145.90

4.80%

24.04.2014

20.20

19.67

20.03

20.81

21.04

21.21

21.16

-0.204 -0.187 -0.171 -0.144 -0.075 -0.071 -0.066 0.025

0.008

0.006

0.003

0.002

0.001

0.001

NDA SS Equity

NORDEA BANK AB

Financials

84.20

4.14%

14.03.2014

16.38

17.26

18.16

19.87

21.68

21.68

-0.268 -0.222 -0.195 -0.155 -0.103 -0.103

0.051

0.022

0.015

0.005

0.003

0.003

GLE FP Equity

SOCIETE GENERALE

Financials

34.34

2.62%

02.06.2014

31.94

31.33

31.06

31.07

32.49

32.68

-0.313 -0.187 -0.165 -0.153 -0.098 -0.091 -0.113 0.022

0.007

0.005

0.003

0.002

0.002

CNA LN Equity

CENTRICA PLC

Utilities

390.30

4.45%

23.04.2014

16.43

16.12

16.22

16.74

16.94

16.94

-0.200 -0.089 -0.084 -0.057 -0.068 -0.068

0.006

0.003

0.002

0.002

0.002

0.002

GSZ FP Equity

GDF SUEZ

Utilities

16.70

8.98%

23.04.2014

21.38

21.49

21.29

22.45

22.65

22.64

21.20

-0.223 -0.160 -0.143 -0.088 -0.029 -0.009 0.002

0.034

0.009

0.006

0.003

0.002

0.001

0.002

NOVOB DC Equity NOVO NORDISK A/S-B

Health Care

ABI BB Equity

ANHEUSER-BUSCH INBEV NV

Consumer Staples

SAN SQ Equity

BANCO SANTANDER SA

ALV GY Equity

ALLIANZ SE-REG

UNA NA Equity

UNILEVER NV-CVA

Consumer Staples

UBSN VX Equity

UBS AG-REG

ENI IM Equity

7.96

0.018

0.065

0.141

0.001 0.022

0.172

-0.144 -0.101 -0.183 -0.151 -0.079

32.14

0.001

0.002

0.001

VOW3 GY Equity VOLKSWAGEN AG-PREF

Consumer Discretionary

184.75

2.36%

22.04.2014

24.88

24.19

24.29

24.82

25.17

25.24

25.33

-0.279 -0.143 -0.134 -0.107 -0.051 -0.031 0.001

0.017

0.006

0.003

0.002

0.001

0.002

0.002

BMW GY Equity

BAYERISCHE MOTOREN WERKE AG

Consumer Discretionary

72.34

3.80%

19.05.2014

22.16

22.79

23.27

24.20

24.26

25.47

25.12

-0.323 -0.184 -0.138 -0.102 -0.050 -0.024 -0.008 0.031

0.006

0.004

0.002

0.001

0.000

0.001

UCG IM Equity

UNICREDIT SPA

Financials

4.19

2.39%

19.05.2014

35.39

34.35

34.51

34.92

35.15

35.35

34.67

-0.304 -0.245 -0.216 -0.162 -0.118 -0.106 -0.124 0.023

0.006

0.004

0.002

0.001

0.001

0.001

ITX SQ Equity

INDITEX

Consumer Discretionary

104.20

1.97%

02.05.2014

26.77

26.48

26.01

25.95

25.45

25.16

24.77

-0.118 -0.134 -0.147 -0.132 -0.146 -0.114 -0.081 0.003

0.002

0.001

0.002

0.001

0.002

0.002

ASML NA Equity

ASML HOLDING NV

Information Technology

69.20

0.84%

25.04.2014

23.62

25.93

27.49

27.01

27.30

27.50

27.54

-0.395 -0.211 -0.177 -0.166 -0.125 -0.106 -0.095 0.020

0.007

0.004

0.003

0.001

0.001

0.001

IBE SQ Equity

IBERDROLA SA

Utilities

4.19

7.17%

03.01.2014

24.57

23.22

23.60

25.14

26.25

27.02

29.06

-0.024 -0.099 -0.139 -0.145 -0.081 -0.039 0.056

0.002

0.006

0.005

0.002

0.001 -0.001 -0.003

EAD FP Equity

EADS NV

Industrials

45.00

2.22%

02.06.2014

23.23

23.76

24.41

25.77

26.88

26.66

25.64

-0.265 -0.235 -0.196 -0.136 -0.082 -0.061 -0.075 0.030

0.008

0.004

0.002

0.001

0.001

0.001

ISP IM Equity

INTESA SANPAOLO

Financials

1.42

3.86%

19.05.2014

30.24

31.69

32.26

33.18

32.94

33.07

33.50

-0.377 -0.247 -0.232 -0.168 -0.069 -0.047 -0.066 0.022

0.005

0.003

0.002

0.001

0.002

0.002

PHIA NA Equity

KONINKLIJKE PHILIPS NV

Industrials

24.41

3.28%

02.05.2014

21.13

21.63

21.85

23.19

23.70

23.94

23.96

-0.550 -0.241 -0.159 -0.150 -0.086 -0.067 -0.074 0.022

0.008

0.004

0.004

0.002

0.002

0.001

SREN VX Equity

SWISS RE AG

Financials

73.20

5.19%

14.04.2014

18.94

17.62

17.67

18.35

18.75

18.95

19.59

-0.224 -0.202 -0.210 -0.178 -0.105 -0.089 -0.065 0.032

0.014

0.009

0.004

0.003

0.002

0.002

VIV FP Equity

VIVENDI

Telecommunication Services 16.05

6.23%

05.05.2014

22.42

24.79

24.93

26.27

25.50

25.38

24.06

-0.192 -0.144 -0.147 -0.136 -0.020 -0.015 -0.016 0.036

0.006

0.004

0.003

0.002

0.003

0.005

G IM Equity

ASSICURAZIONI GENERALI

Financials

14.74

3.55%

19.05.2014

19.70

21.13

21.52

22.90

23.96

25.53

25.97

-0.381 -0.297 -0.261 -0.184 -0.064 -0.038 -0.039 0.031

0.008

0.006

0.003

0.001

0.000

0.000

RI FP Equity

PERNOD RICARD SA

Consumer Staples

92.55

1.97%

14.11.2013

19.34

20.19

20.06

20.72

21.22

20.93

20.34

-0.200 -0.144 -0.113 -0.091 -0.079 -0.063 -0.080 0.027

0.005

0.005

0.003

0.002

0.001

0.001

CPG LN Equity

COMPASS GROUP PLC

Consumer Discretionary

903.50

2.68%

22.01.2014

18.65

18.91

19.43

19.99

19.82

19.82

-0.225 -0.178 -0.143 -0.109 -0.040 -0.040

0.006

0.005

0.003

0.002

0.000

0.000

DG FP Equity

VINCI SA

Industrials

40.37

4.38%

21.04.2014

19.89

20.63

21.32

22.39

23.81

23.50

23.87

-0.236 -0.183 -0.173 -0.129 -0.078 -0.070 -0.043 0.031

0.010

0.007

0.004

0.002

0.003

0.002

UL NA Equity

UNIBAIL-RODAMCO SE

Financials

190.25

4.63%

07.05.2014

22.47

22.22

22.54

23.10

23.89

23.89

23.89

-0.219 -0.180 -0.145 -0.128 -0.056 -0.056 -0.056 0.021

0.007

0.005

0.003

0.001

0.001

0.001

EI FP Equity

ESSILOR INTERNATIONAL

Health Care

88.83

1.10%

26.05.2014

23.98

24.33

24.26

24.61

24.35

23.33

22.87

-0.176 -0.156 -0.157 -0.133 -0.099 -0.069 -0.070 0.025

0.007

0.004

0.003

0.001

0.001

0.001

ENEL IM Equity

ENEL SPA

Utilities

2.61

5.74%

23.06.2014

25.05

25.81

26.04

26.08

26.59

23.97

25.16

-0.392 -0.260 -0.241 -0.176 -0.150 -0.095 -0.073 0.030

0.007

0.003

0.002

0.002

0.002

0.002

STL NO Equity

STATOIL ASA

Energy

125.80

5.56%

15.05.2014

20.35

18.99

19.47

19.53

18.19

19.29

-0.106 0.047

0.049

0.024

0.012

0.001

0.000 -0.001

SSE LN Equity

SSE PLC

Utilities

1567.00

5.65%

22.01.2014

17.65

17.63

17.59

17.85

-0.122 -0.122 -0.122 -0.106

0.004

0.003

0.003

0.002

SWEDA SS Equity SWEDBANK AB - A SHARES

Financials

160.00

6.50%

21.03.2014

11.28

12.16

21.88

22.47

23.99

-0.287 -0.231 -0.246 -0.171 -0.079

0.058

0.026

0.014

0.005

0.001

DPW GY Equity

DEUTSCHE POST AG-REG

Industrials

21.99

3.71%

30.05.2014

27.28

24.77

24.43

24.28

24.43

-0.152 -0.081 -0.076 -0.064 -0.028 -0.008 0.008

0.027

0.009

0.005

0.002

0.001

0.000

0.002

ARM LN Equity

ARM HOLDINGS PLC

Information Technology

877.00

0.58%

30.04.2014

30.23

30.62

31.44

32.95

-0.144 -0.129 -0.096 -0.040

0.007

0.006

0.004

0.001

ADS GY Equity

ADIDAS AG

Consumer Discretionary

88.08

1.95%

09.05.2014

27.60

24.89

24.61

25.11

-0.215 -0.179 -0.147 -0.100 -0.033 -0.017 0.019

0.017

0.007

0.005

0.002

0.001

0.000

0.000

WPP LN Equity

WPP PLC

Consumer Discretionary

1198.00

2.65%

09.10.2013

26.06

25.88

25.73

25.17

-0.128 -0.123 -0.112 -0.080

-0.003 -0.002 -0.001 0.001

SHBA SS Equity

SVENSKA HANDELSBANKEN-A SHS

Financials

304.20

3.68%

26.03.2014

9.38

10.24

16.88

17.80

18.85

-0.444 -0.299 -0.260 -0.201 -0.079

0.065

0.031

0.019

0.008

0.004

97.35

-0.125 -0.177 -0.214 -0.173 -0.120

0.055

0.021

0.013

0.005

0.002

-0.004 -0.163 -0.132 -0.083 -0.065 -0.065

0.016

0.007

0.003

0.001

0.002

0.002

VOLVB SS Equity VOLVO AB-B SHS

Industrials

FTE FP Equity

FRANCE TELECOM SA

Telecommunication Services#N/A N/A

BA/ LN Equity

BAE SYSTEMS PLC

Industrials

SAMAS FH Equity SAMPO OYJ-A SHS EXPN LN Equity

EXPERIAN PLC

REP SQ Equity

REPSOL SA

Energy

SGO FP Equity

COMPAGNIE DE SAINT-GOBAIN

Industrials

UHR VX Equity

SWATCH GROUP AG/THE-BR

Consumer Discretionary

HOLN VX Equity

HOLCIM LTD-REG

CA FP Equity HEN3 GY Equity

25.69

24.08 25.54

22.88 25.94

0.021 -0.098 -0.058 -0.064

3.08%

03.04.2014

13.67

13.88

20.23

22.13

25.30

455.70

4.43%

16.04.2014

22.56

22.22

22.45

22.73

22.95

Financials

33.71

4.15%

21.04.2014

21.85

19.15

18.77

19.73

-0.207 -0.192 -0.155 -0.130

0.014

0.005

0.003

0.004

Industrials

1233.00

2.06%

01.01.2014

19.52

19.82

20.46

21.63

-0.146 -0.148 -0.151 -0.132

0.009

0.008

0.006

0.003

18.36

22.95

5.45%

26.12.2013

23.63

23.96

24.08

24.79

23.72

24.02

23.60

-0.124 -0.193 -0.182 -0.184 -0.108 -0.145 -0.039 0.001

0.003

0.002

0.001

0.000

0.001 -0.001

35.83

3.46%

09.06.2014

22.69

23.63

24.47

26.29

27.50

27.74

27.22

-0.268 -0.182 -0.170 -0.139 -0.081 -0.070 -0.081 0.027

0.008

0.005

0.003

0.002

0.002

0.001

573.50

1.33%

21.05.2014

23.24

22.86

23.02

23.72

24.68

25.01

24.51

-0.126 -0.143 -0.148 -0.133 -0.082 -0.070 -0.064 0.016

0.005

0.004

0.002

0.001

0.001

0.002

Materials

68.45

2.12%

21.04.2014

23.86

22.07

21.97

22.44

22.43

22.60

23.54

-0.204 -0.190 -0.182 -0.141 -0.077 -0.060 -0.053 0.023

0.006

0.004

0.003

0.002

0.002

0.002

CARREFOUR SA

Consumer Staples

23.51

2.55%

02.05.2014

30.67

32.00

32.41

31.92

32.44

32.93

30.72

-0.248 -0.195 -0.174 -0.135 -0.072 -0.076 -0.145 0.024

0.004

0.003

0.002

0.000

0.000

0.000

HENKEL AG & CO KGAA VORZUG

Consumer Staples

75.12

1.42%

15.04.2014

22.02

20.67

20.99

21.85

22.87

23.18

23.17

-0.194 -0.155 -0.119 -0.091 -0.039 -0.018 -0.014 0.026

0.008

0.005

0.003

0.001

0.000

0.000

KNEBV FH Equity KONE OYJ-B

Industrials

57.65

3.21%

25.02.2014

SHP LN Equity

SHIRE PLC

Health Care

2411.00

0.53%

05.03.2014

22.96

22.92

23.84

25.38

-0.020 -0.085 -0.094 -0.063

0.007

0.008

0.006

0.004

RWE GY Equity

RWE AG

Utilities

21.28

9.40%

22.04.2014

29.43

26.06

25.53

25.36

21.46

0.003

0.003

174.00

3.30%

30.04.2014

21.73

21.64

22.31

23.19

25.46 21.48

21.72

21.71

ATCOA SS Equity ATLAS COPCO AB-A SHS

Industrials

PP FP Equity

PPR

Consumer Discretionary

LGEN LN Equity

LEGAL & GENERAL GROUP PLC

Financials

204.70

4.15%

23.04.2014

23.24

20.95

20.95

21.24

TEL NO Equity

TELENOR ASA

Telecommunication Services 132.00

5.30%

16.05.2014

18.44

19.13

19.97

19.37

OML LN Equity

OLD MUTUAL PLC

Financials

195.40

4.09%

23.10.2013

27.54

27.20

26.75

25.47

FRE GY Equity

FRESENIUS SE & CO KGAA

Health Care

97.08

1.26%

20.05.2014

16.98

16.87

17.26

18.15

18.62

SEBA SS Equity

SKANDINAVISKA ENSKILDA BAN-A

Financials

72.30

3.94%

24.03.2014

12.97

14.44

18.95

20.47

21.41

SCAB SS Equity

SVENSKA CELLULOSA AB-B SHS

Consumer Staples

175.20

2.74%

11.04.2014

20.35

21.31

22.18

21.92

23.35

HEIA NA Equity

HEINEKEN NV

Consumer Staples

55.19

1.85%

26.08.2013

23.44

24.07

22.95

22.31

21.52

21.84

ML FP Equity

MICHELIN (CGDE)

Consumer Discretionary

75.66

3.37%

13.05.2014

27.44

26.84

26.88

27.55

28.21

28.10

SAND SS Equity

SANDVIK AB

Industrials

82.90

4.52%

28.04.2014

19.94

20.63

21.54

23.31

26.46

RNO FP Equity

RENAULT SA

Consumer Discretionary

61.05

3.11%

12.05.2014

31.46

31.88

32.40

33.55

34.77

34.93

CRH ID Equity

CRH PLC

Materials

16.76

3.73%

28.08.2013

27.80

26.32

27.11

28.27

29.01

29.12

AH NA Equity

KONINKLIJKE AHOLD NV

Consumer Staples

12.54

3.83%

22.04.2014

17.05

17.67

17.72

18.48

18.38

18.73

18.88

AKZA NA Equity TLSN SS Equity

AKZO NOBEL TELIASONERA AB

Materials 45.73 Telecommunication Services 47.23

3.26% 6.88%

24.10.2013 04.04.2014

21.22 13.64

21.18 15.76

21.80 17.76

23.01 18.84

23.31 18.46

23.23 18.46

22.62 18.46

-0.250 -0.213 -0.184 -0.137 -0.004 0.017

0.025

0.006

0.005

0.002

0.004

-0.311 -0.230 -0.223 -0.167 -0.114

0.075

0.049

0.016

0.009

0.003

0.000

-0.085 -0.056 -0.186 -0.137 -0.134 -0.134

0.004

0.004

0.005

0.003

0.004

0.004

-0.563 -0.380 -0.252 -0.170

0.041

0.019

0.009

0.004

-0.191 -0.180 -0.158 -0.115

0.016

0.014

0.010

0.003

-0.200 -0.088 -0.073 -0.101 -0.073 -0.041 -0.025 0.022

0.008

0.004

0.002

0.001

0.001

0.001

-0.315 -0.184 -0.237 -0.164 -0.108

0.058

0.024

0.018

0.005

0.004

-0.292 -0.261 -0.276 -0.156 -0.084

0.047

0.018

0.011

0.003

0.002

-0.182 -0.136 -0.125 -0.122 -0.083 -0.060 -0.044 0.025

0.006

0.004

0.003

0.002

0.001

0.000

-0.249 -0.207 -0.165 -0.156 -0.060 -0.035

0.020

0.006

0.003

0.002

0.001

0.002

-0.398 -0.251 -0.255 -0.118 -0.089

0.058

0.022

0.015

0.004

0.002

-0.217 -0.182 -0.169 -0.139 -0.050 -0.021 -0.083 0.018

0.006

0.004

0.002

0.001

0.001

-0.289 -0.212 -0.164 -0.120 -0.098 -0.099

0.012

0.004

0.003

0.001

0.001

0.001

-0.267 -0.260 -0.251 -0.154 -0.041 -0.028 0.010

0.048

0.020

0.013

0.007

0.004

0.002

0.002

-0.143 -0.120 -0.107 -0.107 -0.070 -0.040 -0.023 0.026 -0.271 -0.228 -0.218 -0.136 -0.022 -0.022 -0.022 0.072

0.008 0.035

0.003 0.029

0.003 0.028

0.002 0.010

0.001 0.010

0.002 0.010

#N/A N/A 21.48

19.38

19.39

21.60

33.57

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

0.001


06.08.2013

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

At The Money Implied Volatilities by Terms

Stoxx 600 Index

Ticker

Name

PSON LN Equity PEARSON PLC SAF FP Equity SAFRAN SA DNB NO Equity DNB ASA SL/ LN Equity STANDARD LIFE PLC AV/ LN Equity AVIVA PLC TLW LN Equity TULLOW OIL PLC FME GY Equity FRESENIUS MEDICAL CARE AG & NOK1V FH Equity NOKIA OYJ WOS LN Equity WOLSELEY PLC REL LN Equity REED ELSEVIER PLC SDRL NO Equity SEADRILL LTD INVEB SS Equity INVESTOR AB-B SHS ASSAB SS Equity ASSA ABLOY AB-B SGSN VX Equity SGS SA-REG AMS SQ Equity AMADEUS IT HOLDING SA-A SHS CON GY Equity CONTINENTAL AG MT NA Equity ARCELORMITTAL PUB FP Equity PUBLICIS GROUPE LG FP Equity LAFARGE SA DB1 GY Equity DEUTSCHE BOERSE AG PAH3 GY Equity PORSCHE AUTOMOBIL HLDG-PRF BSY LN Equity BRITISH SKY BROADCASTING GRO LR FP Equity LEGRAND SA RYA ID Equity RYANAIR HOLDINGS PLC LAND LN Equity LAND SECURITIES GROUP PLC KGF LN Equity KINGFISHER PLC TEC FP Equity TECHNIP SA AGN NA Equity AEGON NV NXT LN Equity NEXT PLC REN NA Equity REED ELSEVIER NV ABF LN Equity ASSOCIATED BRITISH FOODS PLC DANSKE DC EquityDANSKE BANK A/S HEI GY Equity HEIDELBERGCEMENT AG MKS LN Equity MARKS & SPENCER GROUP PLC SN/ LN Equity SMITH & NEPHEW PLC DSM NA Equity KONINKLIJKE DSM NV CARLB DC Equity CARLSBERG AS-B ACA FP Equity CREDIT AGRICOLE SA TEN IM Equity TENARIS SA MRW LN Equity WM MORRISON SUPERMARKETS SCMN VX Equity SWISSCOM AG-REG MRK GY Equity MERCK KGAA RBS LN Equity ROYAL BANK OF SCOTLAND GROUP GIVN VX Equity GIVAUDAN-REG CPI LN Equity CAPITA PLC CDI FP Equity CHRISTIAN DIOR GEBN VX Equity GEBERIT AG-REG MAERSKB DC Equity AP MOELLER-MAERSK A/S-B BRBY LN Equity BURBERRY GROUP PLC SESG FP Equity SES FI IM Equity FIAT INDUSTRIAL IFX GY Equity INFINEON TECHNOLOGIES AG BAER VX Equity JULIUS BAER GROUP LTD SKFB SS Equity SKF AB-B SHARES EBS AV Equity ERSTE GROUP BANK AG BEI GY Equity BEIERSDORF AG SOLB BB Equity SOLVAY SA BLND LN Equity BRITISH LAND CO PLC ADN LN Equity ABERDEEN ASSET MGMT PLC LUX IM Equity LUXOTTICA GROUP SPA KBC BB Equity KBC GROEP NV CBK GY Equity COMMERZBANK AG TIT IM Equity TELECOM ITALIA SPA AGS BB Equity AGEAS JMAT LN Equity JOHNSON MATTHEY PLC KYG ID Equity KERRY GROUP PLC-A ITRK LN Equity INTERTEK GROUP PLC FUM1V FH Equity FORTUM OYJ CAP FP Equity CAP GEMINI SW FP Equity SODEXO SRG IM Equity SNAM SPA ALO FP Equity ALSTOM KD8 GY Equity KABEL DEUTSCHLAND HOLDING AG SBRY LN Equity SAINSBURY (J) PLC IHG LN Equity INTERCONTINENTAL HOTELS GROU BNR GY Equity BRENNTAG AG YAR NO Equity YARA INTERNATIONAL ASA UU/ LN Equity UNITED UTILITIES GROUP PLC DSY FP Equity DASSAULT SYSTEMES SA SMIN LN Equity SMITHS GROUP PLC DE NA Equity DE MASTER BLENDERS1753 NV WEIR LN Equity WEIR GROUP PLC/THE EDP PL Equity EDP-ENERGIAS DE PORTUGAL SA WRT1V FH Equity WARTSILA OYJ ABP NZYMB DC Equity NOVOZYMES A/S-B SHARES SVT LN Equity SEVERN TRENT PLC SWMA SS Equity SWEDISH MATCH AB GKN LN Equity GKN PLC SDF GY Equity K+S AG-REG WTB LN Equity WHITBREAD PLC ADEN VX Equity ADECCO SA-REG TKA GY Equity THYSSENKRUPP AG HEXAB SS Equity HEXAGON AB-B SHS SPM IM Equity SAIPEM SPA AGK LN Equity AGGREKO PLC OMV AV Equity OMV AG ITV LN Equity ITV PLC ORK NO Equity ORKLA ASA EN FP Equity BOUYGUES SA ATLN VX Equity ACTELION LTD-REG ALFA SS Equity ALFA LAVAL AB FER SQ Equity FERROVIAL SA COLOB DC Equity COLOPLAST-B SKAB SS Equity SKANSKA AB-B SHS SCHP VX Equity SCHINDLER HOLDING-PART CERT KPN NA Equity KONINKLIJKE KPN NV RRS LN Equity RANDGOLD RESOURCES LTD BNZL LN Equity BUNZL PLC GAS SQ Equity GAS NATURAL SDG SA CCL LN Equity CARNIVAL PLC ABE SQ Equity ABERTIS INFRAESTRUCTURAS SA WKL NA Equity WOLTERS KLUWER EDF FP Equity EDF SGE LN Equity SAGE GROUP PLC/THE IMI LN Equity IMI PLC REX LN Equity REXAM PLC GBLB BB Equity GROUPE BRUXELLES LAMBERT SA DELB BB Equity DELHAIZE GROUP ELUXB SS Equity ELECTROLUX AB-SER B BVI FP Equity BUREAU VERITAS SA G1A GY Equity GEA GROUP AG BAB LN Equity BABCOCK INTL GROUP PLC HEIO NA Equity HEINEKEN HOLDING NV RSA LN Equity RSA INSURANCE GROUP PLC MGGT LN Equity MEGGITT PLC VK FP Equity VALLOUREC

GICS_SECTOR_NAME

ATM Ref

Consumer Discretionary 1330.00 Industrials 43.68 Financials 98.00 Financials 396.50 Financials 375.70 Energy 1063.00 Health Care 47.26 Information Technology 3.09 Industrials 3284.00 Consumer Discretionary 847.00 Energy 261.40 Financials 201.90 Industrials 296.00 Industrials 2174.00 Information Technology 25.87 Consumer Discretionary 118.95 Materials 9.41 Consumer Discretionary 59.60 Materials 49.18 Financials 57.26 Consumer Discretionary 66.49 Consumer Discretionary 838.00 Industrials 39.50 Industrials 7.24 Financials 951.00 Consumer Discretionary 402.00 Energy 82.71 Financials 6.00 Consumer Discretionary 5005.00 Consumer Discretionary 14.40 Consumer Staples 1962.00 Financials 111.90 Materials 58.06 Consumer Discretionary 486.20 Health Care 795.00 Materials 55.37 Consumer Staples 565.00 Financials 7.92 Energy 16.86 Consumer Staples 288.00 Telecommunication Services 417.40 Health Care 122.10 Financials 318.30 Materials 1309.00 Industrials 1037.00 Consumer Discretionary 141.10 Industrials 253.20 Industrials 44280.00 Consumer Discretionary 1556.00 Consumer Discretionary 21.74 Industrials 9.50 Information Technology 6.83 Financials 43.88 Industrials 183.50 Financials 24.17 Consumer Staples 70.74 Materials 105.40 Financials 596.00 Financials 385.40 Consumer Discretionary 41.64 Financials 32.61 Financials 6.63 Telecommunication Services 0.48 Financials 31.51 Materials 2885.00 Consumer Staples 46.68 Industrials 3174.00 Utilities 15.15 Information Technology 43.27 Consumer Discretionary 69.95 Utilities 3.58 Industrials 25.54 Consumer Discretionary 84.60 Consumer Staples 392.60 Consumer Discretionary 1963.00 Industrials 123.00 Materials 256.40 Utilities 726.00 Information Technology 101.15 Industrials 1317.00 Consumer Staples 12.40 Industrials 2227.00 Utilities 2.62 Industrials 35.20 Health Care 203.70 Utilities 1778.00 Consumer Staples 244.60 Consumer Discretionary 353.60 Materials 16.93 Consumer Discretionary 3309.00 Industrials 61.00 Materials 16.65 Information Technology 207.20 Energy 16.42 Industrials 1648.00 Energy 34.21 Consumer Discretionary 167.30 Consumer Staples 45.92 Industrials 22.69 Health Care 63.85 Industrials 153.30 Industrials 13.12 Health Care 338.10 Industrials 123.70 Industrials 138.90 Telecommunication Services 1.97 Materials 4547.00 Industrials 1380.00 Utilities 15.34 Consumer Discretionary 2570.00 Industrials 14.04 Consumer Discretionary 18.90 Utilities 21.90 Information Technology 353.30 Industrials 1430.00 Materials 514.00 Financials 61.22 Consumer Staples 49.57 Consumer Discretionary 192.40 Industrials 22.73 Industrials 31.76 Industrials 1200.00 Consumer Staples 49.08 Financials 123.10 Industrials 557.00 Industrials 44.52

Dividend Yield 3.56% 2.40% 2.55% 3.96% 3.89% 1.13% 1.71% 2.25% 2.90% 8.20% 3.84% 1.96% 1.52% 2.13% 2.01% 1.60% 2.24% 4.02% 2.26% 3.66% 2.66% 3.22% 2.63% 2.42% 3.83% 2.20% 3.39% 1.62% 1.79% 1.46% 3.66% 2.21% 2.80% 1.15% 3.41% 2.01% 4.53% 5.27% 1.47% 3.06% 2.47% 2.13% 2.84% 2.71% 2.02% 4.92% 2.89% 1.90% 1.48% 3.13% 2.10% 1.27% 3.08% 4.53% 3.79% 1.66%

4.20% 3.81% 2.18% 0.84% 1.48% 6.60% 2.54% 2.54% 6.99% 3.64% 2.96% 4.43% 2.33% 2.15% 5.07% 4.96% 0.86% 3.08% 1.88% 7.06% 3.13% 1.15% 4.52% 3.27% 2.29% 8.27% 1.87% 2.95% 1.50% 1.35% 1.60% 3.65% 1.91% 5.44% 7.05% 1.57% 2.45% 3.81% 1.48% 5.05% 1.73% 0.61% 0.79% 2.19% 6.13% 2.60% 4.70% 3.86% 5.71% 3.23% 2.52% 3.35% 4.46% 2.86% 3.64% 1.86% 1.89% 2.33% 2.08% 5.12% 2.33% 2.13%

Next ExDividend Date 02.04.2014 16.12.2013 25.04.2014 21.08.2013 18.09.2013 16.04.2014 19.05.2014 09.05.2014 09.10.2013 23.04.2014 04.09.2013 16.04.2014 28.04.2014 21.03.2014 30.01.2014 16.05.2014 09.05.2014 27.06.2014 03.07.2014 15.05.2014 23.06.2014 26.03.2014 02.06.2014 04.12.2013 09.10.2013 08.05.2014 16.08.2013 20.11.2013 28.04.2014 04.12.2013 19.03.2014 05.05.2014 13.11.2013 16.04.2014 07.05.2014 24.03.2014 26.05.2014 18.11.2013 25.09.2013 11.04.2014 22.04.2014 07.08.2013 26.03.2014 16.04.2014 22.04.2014 08.04.2014 14.04.2014 18.12.2013 18.04.2014 21.04.2014 07.03.2014 11.04.2014 29.04.2014 22.05.2014 22.04.2014 16.01.2014 08.01.2014 04.12.2013 19.05.2014 13.05.2015 23.05.2014 21.04.2014 28.04.2014 27.11.2013 16.10.2013 04.06.2014 10.04.2014 04.06.2014 30.01.2014 19.05.2014 03.07.2014 13.10.2014 20.11.2013 19.03.2014 20.06.2014 16.05.2014 18.12.2013 16.06.2014 23.10.2013 30.04.2014 12.05.2014 10.03.2014 27.02.2014 04.12.2013 05.05.2014 09.04.2014 15.05.2014 06.11.2013 28.04.2014 20.01.2014 14.05.2014 19.05.2014 23.04.2014 19.05.2014 30.04.2014 18.04.2014 30.04.2014 22.04.2014 24.04.2014 12.12.2013 12.12.2013 14.04.2014 28.03.2014 15.04.2014 07.05.2014 06.11.2013 08.01.2014 20.11.2013 31.10.2013 28.04.2014 12.12.2013 12.02.2014 04.09.2013 23.04.2014 28.04.2014 28.05.2014 26.03.2014 11.06.2014 22.04.2014 11.12.2013 26.08.2013 02.04.2014 12.03.2014 05.06.2014

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 17.18 22.75 25.23 27.17 29.02 29.60 19.28 34.23 19.69 15.82 23.25 13.72 19.25 18.28 20.57 25.77 31.31 28.26 27.15 23.99 26.00 16.07 23.97 32.71 17.68 22.52 28.03 27.23 17.15 15.94 13.81 27.42 26.63 20.21 17.45 26.58 24.95 44.31 23.53 14.78 14.62 24.67 37.33 16.49

17.35 22.99 25.32 26.74 25.57 29.61 19.67 37.44 19.62 16.06 21.92 14.81 19.40 18.54 18.38 26.01 31.30 25.73 27.62 22.48 28.04 16.69 24.20 30.48 17.58 21.92 28.23 26.31 17.14 15.92 13.94 25.95 26.99 20.79 17.75 22.32 25.39 36.83 23.85 16.16 13.21 22.50 35.10 17.23

17.70 23.51 26.26 25.84 25.04 29.65 20.20 40.77 19.77 16.58 19.26 15.75 20.02 18.92 17.84 26.28 31.03 25.22 28.03 22.38 28.53 17.41 24.68 30.21 17.68 21.16 28.65 26.23 17.13 16.17 14.23 26.14 27.43 21.26 18.55 21.67 25.10 37.89 24.31 16.80 13.14 22.62 35.02 17.90

18.48 24.87 25.83 24.34 24.70 29.44 20.84 41.30 19.56 17.68

22.65 17.05 24.89 28.45

22.72 16.60 22.59 28.51

27.19 32.52 22.31 19.90 32.36 22.85 22.48 21.85

-0.071 -0.201 -0.425 0.036 -0.119 -0.199 -0.122 -0.268 0.086 -0.208 -0.003 -0.211 -0.276 -0.187 -0.062 -0.152 -0.189 -0.208 -0.172 -0.092 -0.127 0.013 -0.180 -0.183 -0.249 -0.008 -0.122 -0.368 -0.249 -0.288 -0.046 -0.256 -0.370 0.004 -0.275 -0.430 -0.083 -0.138 -0.241 0.000 -0.223 -0.196 -0.038 -0.257

-0.072 -0.193 -0.262 0.019 -0.184 -0.187 -0.067 -0.178 0.071 -0.192 0.028 -0.151 -0.200 -0.194 -0.094 -0.145 -0.113 -0.171 -0.150 -0.036 -0.095 -0.040 -0.173 -0.032 -0.106 0.016 -0.119 -0.192 -0.227 -0.106 -0.047 -0.154 -0.215 -0.033 -0.255 -0.195 -0.059 -0.063 -0.193 -0.025 -0.194 -0.171 -0.038 -0.147

-0.073 -0.175 -0.209 -0.019 -0.142 -0.162 -0.051 -0.153 0.041 -0.156 0.091 -0.132 -0.190 -0.193 -0.099 -0.110 -0.104 -0.168 -0.149 -0.008 -0.115 -0.095 -0.157 -0.050 -0.054 0.001 -0.113 -0.156 -0.182 -0.093 -0.049 -0.168 -0.162 0.011 -0.214 -0.122 -0.054 -0.079 -0.164 -0.051 -0.184 -0.163 -0.052 -0.118

-0.066 -0.131 -0.143 -0.068 -0.155 -0.107 -0.051 -0.175 -0.008 -0.085

-0.090 -0.261 -0.097 -0.121

-0.094 -0.252 -0.087 -0.114

-0.101 -0.202 -0.067 -0.094

-0.108 -0.098 -0.098 -0.171 -0.103 -0.106 -0.053 -0.044 -0.004 0.016

-0.239 -0.363 -0.459 -0.355 -1.033 -0.166 -0.122 -0.029

-0.205 -0.164 -0.207 -0.315 -0.256 -0.076 -0.131 -0.042

-0.206 -0.136 -0.184 -0.249 -0.110 -0.078 -0.117 -0.067

-0.176 -0.110 -0.121 -0.155 -0.080 -0.086 -0.104 -0.069

0.057 -0.223 -0.172 -0.294 -0.268

-0.163 -0.151 -0.144 -0.206 -0.121

-0.148 -0.124 -0.156 -0.196 -0.116

-0.105 -0.127 -0.115 -0.112 -0.092

25.17

24.50

24.31

23.14

20.47 41.99

20.46 40.16

20.16 39.96

16.34 20.95 19.57 17.60 27.49 31.18 24.78 29.12 22.67 29.28 18.21 25.85 29.34 18.16 21.33 29.13 25.55 17.32 17.51 14.66 27.92 28.48 21.89 19.85 21.15 25.76 35.60 25.05 16.83 13.43 23.17 35.48 18.41

16.90 22.21 20.21 17.70 28.60 32.27 24.79 30.17 23.21 29.08 18.55 26.24 28.57

20.66 17.42 29.22 33.94 23.46 30.31 21.54 27.53 18.55 26.24 28.48

29.91 24.50

28.13 23.96

23.42

18.08

18.70

18.81

30.08 22.85

30.92 23.47

31.18 22.46

20.62

20.63

20.41

36.30

38.43

36.66

14.03 23.09 35.22 18.74

14.15 22.71 36.20 18.87

12.75 22.82 35.01

22.89 16.86 22.18 28.60

24.33 17.88 22.19 29.25

24.99 18.25

24.99 18.68

30.34

30.52

26.95 32.41 21.97 20.72 31.19 20.58 22.78 21.97

26.86 33.09 22.04 21.66 31.36 20.48 23.38 21.71

27.23 33.92 22.84 22.28 31.51 21.14 25.04 20.89

28.31 34.34 23.58 25.30 24.58 21.56 25.00

28.31 34.54 23.44

22.71 35.58 45.74 47.16 20.15

23.49 32.40 41.73 46.60 20.62

23.75 32.32 40.84 45.58 20.62

24.10 33.09 39.93 42.74 21.90

23.90 33.97 38.17 40.09 24.10

23.90 33.97 37.33 39.64 24.34

17.21

17.68

18.29

18.76

19.05

19.22

18.17 24.92 19.05 15.93 27.13 19.17 16.34 21.11 26.76 25.20 18.97 15.48

18.73 25.42 19.25 15.91 26.86 19.63 17.13 21.23 24.90 23.15 18.91 15.82

19.41 25.92 19.68 15.96 27.10 20.96 18.01 21.47 23.63 22.62 18.79 16.55

20.96 27.57 20.63 14.70 27.39 21.79 19.27 21.09 21.59 23.32 19.25 18.06

16.21

16.03

15.65

15.59

31.14 15.84 22.88

23.72 15.99 22.61

23.23 16.31 22.35

23.28 17.74 23.37

74.93 20.59 26.72 46.33 25.99 31.38

63.13 20.69 23.45 38.31 25.99 32.35

58.73 20.89 23.43 36.56 25.99 32.66

51.29 21.13 23.97 35.76 25.99 33.07

38.85

40.16

39.19

25.05 32.02

25.21 31.15

33.25

33.25

-0.259 0.130 -0.373 -0.087 0.000 -0.299

-0.277 0.132 -0.164 -0.004 0.000 -0.153

-0.284 0.136 -0.142 0.008 0.000 -0.125

-0.243 0.120 -0.131 0.038 0.000 -0.064

0.113 0.091 0.095 0.002 0.002 0.001 0.000 0.002 0.000 -0.001 -0.001 -0.002 -0.083 -0.070 -0.076 0.013 0.007 0.005 0.003 0.001 0.066 0.080 0.115 0.006 0.002 0.001 -0.001 -0.001 0.000 0.000 0.000 0.000 -0.071 -0.071 0.022 0.008 0.005 0.003 0.000

-0.001 0.001

24.59 33.52

25.20 26.61 20.86 27.73 25.10 20.59 28.10

24.88 26.14 20.31 28.20 24.94 20.04 27.75

24.59 25.31 20.19 28.04 24.70 20.69 27.49

24.98 22.77 22.34 28.62 24.17 21.91 27.28

21.71

21.10

28.34

26.86

26.51

-0.081 0.002 -0.183 -0.090 -0.114 -0.223 -0.095

-0.026 0.095 -0.179 -0.085 -0.119 -0.187 -0.143

0.062 -0.002 0.069 0.080 0.119 0.009 0.026 -0.101 -0.099 0.017 -0.133 0.051 -0.128 -0.190 -0.158 0.001

0.026 -0.001 0.030 0.006 0.005 0.018 0.000

0.003 -0.001 0.018 0.006 0.003 0.010 0.000

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

0.001

29.25 23.79

-0.088 -0.044 -0.219 -0.103 -0.127 -0.219 -0.090

0.478

29.38 23.95 24.04 26.40

-0.655 -0.066 -0.343 -0.164 -0.257 -0.277 -0.026

16.54 20.10 48.99 33.24

15.95 19.93 45.97 33.11

16.37 20.06 44.72 32.84

18.30 20.16 41.25 32.39

19.16 20.43 40.58

20.44 37.71

37.67

-0.406 -0.186 0.005 0.104

-0.262 -0.091 0.200 0.061

-0.249 -0.084 0.061 -0.031

-0.177 -0.155 0.095 -0.102 -0.042 -0.035 0.017 -0.050 -0.069 -0.057 -0.107 0.030 -0.176 -0.003

0.050 0.002 0.006 -0.002

0.033 0.002 0.004 -0.001

0.011 0.002 0.003 0.002

32.46 20.44 26.84 16.48 25.20 18.40

30.11 20.73 25.81 16.85 24.79 18.70

29.43 21.33 25.88 17.45 24.96 19.33

28.08 22.58 24.77 18.74 26.27 20.38

26.18

25.36

25.97

25.12 20.07 25.54

24.84 20.41 25.31

25.14 20.97 25.03

-0.082 0.066 -0.158 -0.462 -0.361 -0.129

-0.056 0.050 -0.111 -0.170 -0.217 -0.131

-0.050 0.016 -0.134 -0.146 -0.175 -0.135

-0.077 -0.046 -0.167 -0.132 -0.091 -0.109

0.005 -0.008 -0.086 0.001 0.007 -0.123 -0.120 -0.094 0.002 -0.071 -0.055 -0.048 0.028 -0.010 -0.012 0.021 0.034 0.005

0.001 0.006 0.001 0.011 0.008 0.004

0.000 0.004 0.001 0.004 0.006 0.004

0.001 -0.001 0.000 0.002 0.001 0.000 0.001 0.004 0.002 0.002 0.002 0.000 -0.001 0.004

12.32 42.86 21.35 23.39 24.93

12.90 34.53 22.11 22.69 24.79

13.37 32.39 23.08 22.41 24.95

14.13 29.91 24.48 21.93 25.03

13.80 28.54 26.41 21.05 24.25

13.80 28.54

-0.127 -0.305 -0.162 -0.113 -0.414

-0.105 -0.135 -0.145 -0.059 -0.250

-0.100 -0.116 -0.135 -0.052 -0.196

-0.162 -0.154 -0.114 -0.056 -0.144

-0.155 -0.133 -0.072 -0.081 -0.096

0.013 0.002 0.013 0.002 0.006

0.006 0.001 0.007 0.001 0.004

0.005 0.003 0.002 0.001 0.001

0.003 0.001 0.000 0.002 0.000

0.003 0.001

19.68

18.45

18.52

19.79

19.84

19.84

0.013

0.013

0.014

0.003

0.002

0.002

28.44

28.85

29.46

31.06

31.09

31.29

-0.197 -0.185 -0.170 -0.131 -0.040 -0.022 -0.046 0.024

0.007

0.005

0.002

0.002

0.002

22.95 21.23 25.00

17.60 29.21 34.59 22.99 28.44 21.11 28.05

34.22 23.32

21.03

36.28 37.90 22.11

28.34 20.64 13.24 28.51 21.43 19.77

28.52 20.22 13.24 29.39 21.43 19.77

29.34 20.59

21.06

20.77

20.52

18.57

18.57

16.19

16.19

21.46 24.91

31.39 21.43

16.19

25.04

-0.147 -0.169 -0.124 -0.129 -0.101 -0.120 -0.131 -0.123 -0.031 -0.112 -0.079 -0.126 -0.037 -0.039 -0.051 -0.098 -0.140 -0.108 -0.083 -0.092 -0.078 -0.137 -0.002 -0.111 -0.151 -0.026 -0.088 -0.134 -0.075 -0.144 -0.123 -0.066 -0.101

-0.124 -0.124

0.005 0.005 0.005 0.004 0.008 0.007 0.005 0.002 0.001 0.001 0.071 0.027 0.013 0.001 0.005 0.004 0.003 0.002 0.014 0.009 0.003 0.003 0.002 0.002 0.004 0.007 0.006 0.003 -0.001 0.029 0.007 0.004 0.002 0.001 0.000 0.000 0.042 0.007 0.006 0.002 0.001 0.003 0.002 0.004 0.005 0.005 0.004 0.018 0.016 0.011 0.004 0.008 0.007 0.006 0.057 0.025 0.017 0.009 0.004 0.046 0.016 0.009 0.004 0.001 0.021 0.011 0.008 0.004 0.002 0.001 0.001 0.001 0.001 0.000 -0.001 -0.001 -0.002 0.022 0.006 0.003 0.002 0.001 0.000 0.000 0.029 0.005 0.002 0.002 0.001 0.001 0.001 0.019 0.005 0.003 0.002 0.001 0.001 0.001 0.025 0.008 0.005 0.002 0.002 0.001 0.002 0.026 0.006 0.002 0.001 0.000 0.001 0.001 0.023 0.004 0.003 0.002 0.002 0.002 0.005 0.006 0.007 0.005 0.005 0.003 0.003 0.005 0.005 0.004 0.002 0.001 0.001 0.005 -0.002 0.000 0.000 0.001 0.001 0.009 0.006 0.003 0.004 0.001 0.000 0.000 0.002 0.003 0.003 0.002 0.002 0.001 0.001 0.031 0.009 0.006 0.005 0.003 0.004 0.004 0.023 0.020 0.013 0.003 0.037 0.017 0.008 0.005 0.002 0.002 0.001 0.000 0.000 0.000 0.001 0.052 0.018 0.010 0.001 0.023 0.007 0.004 0.002 0.001 0.000 -0.001 0.009 0.008 0.003 0.002 0.001 0.001 0.001 0.007 0.007 0.006 0.003 0.015 0.006 0.002 0.003 0.002 0.001 0.001 0.005 0.000 0.000 0.000 0.010 0.005 0.003 0.003 0.001 0.000 0.002 0.009 0.007 0.003 0.002 0.001 0.003 0.005 0.004 0.031 0.015 0.011 0.006 0.002 0.002 0.005 0.019 0.007 0.005 0.002 0.001 0.001 0.001 0.007 0.003 0.001 0.002 0.001 -0.002 -0.003 0.016 0.008 0.007 0.004 0.003 0.003

25.17

-0.099 -0.021 0.103 -0.057 -0.039 -0.033 -0.211 -0.193 -0.150

-0.107 -0.120 -0.091 -0.094 -0.062 -0.069 -0.138 -0.091 0.005 -0.205 -0.061 -0.079 -0.065

-0.079 -0.095 -0.043 -0.043 -0.255 -0.076 0.020 -0.149 -0.061 -0.079 -0.059

-0.038 -0.061 -0.098 -0.069 -0.050 -0.057 -0.033 -0.023

-0.067 -0.041 -0.014 -0.002 0.010 -0.010 -0.099 -0.070 -0.047 0.109

0.175

-0.081 -0.077 -0.027 -0.057

-0.072 -0.062 -0.059 -0.060 0.001 0.006 -0.026

0.286

0.002 0.019 0.007 0.006

0.002 0.009 0.002 0.001

0.002 0.007 0.001 0.001

0.002 0.004 0.000 0.000

0.001 0.003

-0.076 -0.069 -0.074 -0.082 0.370 -0.057 -0.078

-0.076 0.020 -0.052 -0.035 0.026 -0.078 -0.054 0.017 0.055 0.467 0.096 -0.056 -0.038 0.017 -0.078 0.021 0.004

0.007 0.005 0.008 0.024 0.015 0.007 0.005 0.003

0.005 0.002 0.002 0.002 0.007 0.003 0.013 0.004 0.006 0.004 0.003 0.003 0.002 0.002 0.001 -0.001

0.000 0.001 0.001 0.001 0.007 0.001 0.002

-0.073 -0.096 -0.081 -0.029 -0.031

-0.073 -0.096 -0.003 0.189 -0.018 -0.066 -0.046 -0.026

0.023 0.010 0.014 0.024 0.028

0.003 0.005 0.005 0.003 0.007

0.003 0.004 0.003 0.000 0.003

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

0.003

0.038

0.007 -0.059 -0.092 -0.088

0.029

0.007

0.003

0.003

-0.286 -0.238 -0.107 0.156 -0.011 -0.285 0.013 -0.212 0.011 -0.167 0.086 -0.093

-0.219 -0.239 -0.108 -0.027 -0.054 -0.122 -0.048 -0.197 -0.023 -0.127 0.080 -0.096

-0.132 -0.197 -0.109 -0.164 -0.062 -0.128 -0.084 -0.164 -0.073 -0.146 0.068 -0.103

0.023 0.031 0.007 0.045 0.026 0.017 0.006 0.009 0.008 0.039 0.004 0.012

0.007 0.009 0.006 0.013 0.007 0.003 0.006 0.008 0.002 0.009 0.004 0.011

0.004 0.005 0.005 0.003 0.003 0.002 0.004 0.007 0.002 0.003 0.003 0.008

0.001 0.002 0.003 0.002 0.003 0.000 0.003 0.004 0.001 0.003 0.002 0.003

-0.271 -0.258 -0.230 -0.168 -0.148 -0.148 -0.148 0.031

0.028

0.022

0.009

0.170 -0.009 -0.060 -0.072 -0.202 -0.180 -0.131 -0.058 -0.056 -0.036 -0.044 -0.040

0.006 0.005 0.006

0.000 0.004 0.003

0.000 0.003 0.001

-0.094 -0.149 -0.094 -0.110 -0.106 -0.130 -0.043 -0.072 -0.093 -0.139 0.037 -0.111

-0.064 -0.068 0.016 -0.102 -0.129 -0.028

-0.064 -0.030 0.016 -0.090 -0.129 -0.028

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

-0.053 -0.024 -0.043 -0.129

-0.058 -0.050 -0.040

-0.044 -0.044

0.020 0.005 0.026

0.592

-0.155 -0.133

0.033 0.008 0.045 -0.100 0.004 -0.076 -0.070 0.023

-0.254 -0.084 -0.111 -0.106 -0.081 -0.081 31.94

-0.077 -0.030 -0.013 -0.228 -0.100 0.033 -0.229

0.001 0.002

0.000 -0.001 0.000 0.000 0.001 0.008 0.001 0.002

0.000 0.001

0.001

0.001

0.001

0.001 0.001 0.001 0.002 0.000 0.002

0.001 0.001 0.001 0.000 0.000 0.002

0.000 0.001

0.001

0.002

0.003

0.002

0.002

0.005

0.005

0.004 0.001 0.003

0.001 0.000

0.000 0.000

0.005

0.002 0.000

0.000

0.002 0.001

0.003

0.000

0.000

0.001 0.002

0.003

0.002 0.000

0.000 0.000 0.001 0.000

0.000

0.002


06.08.2013

Stoxx 600 Index

Ticker

Name

GICS_SECTOR_NAME

ATM2 Ref

Dividend Yield

Next ExDividend Date

At The Money Implied Volatilities by Terms

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

TIT IM Equity

TELECOM ITALIA SPA

Telecommunication Services 0.48

4.20%

21.04.2014

47.16

46.60

45.58

42.74

40.09

39.64

SVT LN Equity

SEVERN TRENT PLC

Utilities

1778.00

4.52%

04.12.2013

15.84

15.99

16.31

17.74

EDEN FP Equity

EDENRED

Industrials

24.25

3.63%

26.05.2014

23.88

20.64

20.78

21.03

20.28

19.80

37.90

-0.294 -0.206 -0.196 -0.112 -0.029 -0.018 -0.066 0.024

0.003

0.000

0.001 -0.001 -0.001 0.001

-0.202 -0.180 -0.131 -0.058

0.005

0.005

0.004

0.003

-0.089 -0.091 -0.106 -0.078 -0.045 -0.041

0.005

0.001

0.001

OMV AV Equity

OMV AG

Energy

34.21

3.65%

19.05.2014

25.20

24.88

24.59

24.98

21.71

21.10

0.001

0.002

0.003

-0.655 -0.088 -0.081 -0.026 0.478

0.062

0.026

0.003

RRS LN Equity

RANDGOLD RESOURCES LTD

Materials

4547.00

0.79%

07.05.2014

33.24

33.11

32.84

32.39

0.005

0.001

TPK LN Equity

TRAVIS PERKINS PLC

Industrials

1703.00

1.76%

30.04.2014

0.001

BVI FP Equity

BUREAU VERITAS SA

Industrials

22.73

1.86%

11.06.2014

23.39

22.69

22.41

21.93

21.05

21.46

0.004

0.002

0.001

0.001

HEIO NA Equity

HEINEKEN HOLDING NV

Consumer Staples

49.08

2.08%

26.08.2013

GAS SQ Equity

GAS NATURAL SDG SA

Utilities

15.34

6.13%

08.01.2014

32.46

30.11

29.43

28.08

26.18

25.36

25.97

-0.082 -0.056 -0.050 -0.077 0.005 -0.008 -0.086 0.001

0.001

0.000

0.001 -0.001 0.000

0.002

0.002 0.000

SAB SQ Equity

BANCO DE SABADELL SA

Financials

35.71

36.62

32.16

0.000

0.104

0.592

0.061 -0.031 -0.176

-0.003 -0.002 -0.001 0.002

-0.113 -0.059 -0.052 -0.056 -0.081 -0.100

1.61

4.94%

10.09.2013

42.58

40.68

40.21

40.60

-0.130 -0.412 -0.417 -0.481 -0.160 -0.230 0.148

0.002

0.002

0.005

0.001

112.10

1.34%

05.09.2014

23.71

23.71

23.71

23.71

0.000

0.000

0.000

0.000

0.000

0.000

8.99

6.67%

07.04.2014

30.00

24.73

26.11

27.50

0.027 -0.106 -0.086 -0.063

0.020

0.001

Materials

75.51

2.52%

29.05.2014

26.69

26.82

27.11

27.85

-0.118 -0.114 -0.106 -0.087 -0.081 -0.081

Materials

514.00

3.35%

23.04.2014

Information Technology

353.30

3.23%

12.02.2014

18.40

18.70

19.33

20.38

-0.129 -0.131 -0.135 -0.109

45.92

5.44%

18.04.2014

20.86

20.31

20.19

22.34

14.59

5.41%

18.11.2013

18.82

19.48

19.62

20.56

19.61

19.61

2626.00

2.13%

17.04.2014

19.20

18.85

18.56

18.10

18.24

18.32

2.58%

12.03.2014

22.95

23.12

23.70

23.76

09.06.2014

56.67

51.42

50.88

53.41

54.69

53.72

55.32

-0.172 -0.010 -0.029 -0.096 -0.047 0.019 -0.015 0.027

0.008

0.003

28.26

26.87

25.97

24.60

22.45

20.71

20.69

-0.152 -0.154 -0.152 -0.198 -0.144 -0.107 -0.087 0.003

0.002

-0.125 -0.126 -0.013 -0.013

0.024

-0.260 -0.231 -0.168 -0.065 -0.288 -0.299 -0.223

EKTAB SS Equity ELEKTA AB-B SHS

Health Care

UPM1V FH Equity UPM-KYMMENE OYJ

Materials

AKE FP Equity

ARKEMA

REX LN Equity

REXAM PLC

SGE LN Equity

SAGE GROUP PLC/THE

ORK NO Equity

ORKLA ASA

Consumer Staples

ATL IM Equity

ATLANTIA SPA

Industrials

SIK VX Equity

SIKA AG-BR

Materials

WMH LN Equity

WILLIAM HILL PLC

Consumer Discretionary

457.40

ALU FP Equity

ALCATEL-LUCENT

Information Technology

1.97

REE SQ Equity

RED ELECTRICA CORPORACION SA

Utilities

PSN LN Equity

PERSIMMON PLC

Consumer Discretionary

TDC DC Equity

TDC A/S

TATE LN Equity

TATE & LYLE PLC

42.00

6.07%

02.01.2014

1288.00

7.38%

30.10.2013

Telecommunication Services 48.40

7.64%

07.03.2014

36.86

25.14

21.91

21.91

Consumer Staples

19.70

28.74

28.74

830.50

3.31%

27.11.2013

19.71

19.65

19.50

NRE1V FH Equity NOKIAN RENKAAT OYJ

Consumer Discretionary

33.81

4.73%

14.04.2014

27.05

27.04

27.67

CO FP Equity

CASINO GUICHARD PERRACHON

Consumer Staples

77.90

4.24%

24.04.2014

21.34

21.98

22.33

22.89

23.35

23.31

SCR FP Equity

SCOR SE

Financials

24.56

5.09%

07.05.2014

19.18

19.40

19.87

20.83

21.84

SOON VX Equity

SONOVA HOLDING AG-REG

Health Care

106.00

1.70%

20.06.2014

21.03

20.97

21.41

22.40

23.21

HMSO LN Equity

HAMMERSON PLC

Financials

533.00

3.53%

02.04.2014

TRN IM Equity

TERNA SPA

Utilities

3.36

5.96%

18.11.2013

14.99

15.04

15.24

16.11

16.67

16.67

STM IM Equity

STMICROELECTRONICS NV

Information Technology

6.61

4.68%

23.06.2014

34.40

34.43

34.39

34.85

35.36

34.28

FR FP Equity

VALEO SA

Consumer Discretionary

60.28

2.49%

27.06.2014

27.92

28.23

28.89

29.96

30.21

30.21

SLHN VX Equity

SWISS LIFE HOLDING AG-REG

Financials

175.40

2.57%

25.04.2014

22.82

20.64

20.70

21.31

22.07

22.41

ARYN SE Equity

ARYZTA AG

Consumer Staples

ZC FP Equity

ZODIAC AEROSPACE

Industrials

VIE FP Equity

VEOLIA ENVIRONNEMENT

Utilities

RAND NA Equity

RANDSTAD HOLDING NV

Industrials

SCVB SS Equity

SCANIA AB-B SHS

Industrials

TW/ LN Equity

TAYLOR WIMPEY PLC

Consumer Discretionary

III LN Equity

3I GROUP PLC

Financials

MRO LN Equity

MELROSE INDUSTRIES PLC

Industrials

MNDI LN Equity

MONDI PLC

AHT LN Equity BALN VX Equity SPM IM Equity

0.003

0.002

0.006

0.000

0.004

0.003

0.001 -0.001 0.000

0.000

0.005

0.004

0.004

0.004

-0.343 -0.219 -0.183 -0.179

0.069

0.030

0.018

0.006

-0.221 -0.321 -0.294 -0.197 -0.122 -0.122

0.035

0.011

0.008

0.003

0.004

0.004

-0.133 -0.098 -0.093 -0.080 -0.077 -0.077

0.003

0.002

0.002

0.002

0.001

0.001

-0.158 -0.141 -0.105 -0.025

-0.005 -0.005 -0.003 0.001 0.001

0.001

0.001

0.000

0.001

0.002

0.001

0.001

0.000

0.038

0.043

0.043

0.009

0.001 0.002

0.000

0.000

0.008

0.005

0.019

0.008

0.005

-0.228 -0.159 -0.152 -0.131 -0.102 -0.087 -0.130 0.025

0.005

0.006

0.003

0.002

0.001

21.84

-0.169 -0.172 -0.177 -0.178 -0.072 -0.072

0.014

0.012

0.008

0.003

0.001

0.001

23.28

-0.028 -0.150 -0.150 -0.129 -0.088 -0.081

0.020

0.007

0.004

0.003

0.002

0.002

-0.169 -0.185 -0.166 -0.080 -0.054 -0.054

22.56

34.75 21.72

0.024

0.005

0.005

0.002

0.000

0.000

-0.222 -0.126 -0.101 -0.120 -0.086 0.018 -0.054 0.017

0.002

0.001

0.001

0.001

0.001

-0.178 -0.174 -0.167 -0.142 -0.110 -0.110

0.008

0.007

0.005

0.002

0.001

0.001

-0.187 -0.164 -0.151 -0.128 -0.091 -0.081 -0.089 0.019

0.006

0.005

0.004

0.002

0.001

0.001 0.001

58.10

1.19%

29.01.2014

22.32

20.45

20.23

19.90

19.76

20.06

-0.047 -0.083 -0.061 -0.048 -0.041 -0.052

0.009

0.004

0.003

0.002

0.001

0.001

112.20

1.43%

13.01.2014

19.48

18.23

18.59

18.69

18.62

19.32

-0.091 -0.101 -0.081 -0.084 -0.057 -0.058

0.013

0.001

0.001

0.001

0.000

0.000

10.33

6.78%

22.05.2014

29.07

27.69

27.95

29.05

30.65

29.69

-0.192 -0.142 -0.124 -0.100 -0.046 -0.070 -0.115 0.029

0.005

0.004

0.002

0.000

0.001

0.000

36.72

2.72%

03.04.2014

26.34

25.87

25.91

26.62

-0.323 -0.182 -0.139 -0.143

0.022

0.007

0.003

0.003

135.80

3.61%

06.05.2014

20.66

22.35

22.61

24.50

-0.261 -0.197 -0.191 -0.135 -0.090

0.055

0.017

0.007

0.003

113.70

0.80%

16.04.2014

381.70

2.23%

11.12.2013

19.64

19.62

19.57

19.79

0.083

0.012

0.011

0.008

0.002

288.60

2.98%

18.09.2013

Materials

985.50

2.89%

21.08.2013

ASHTEAD GROUP PLC

Industrials

719.00

1.25%

15.01.2014

BALOISE HOLDING AG - REG

Financials

102.60

4.39%

06.05.2014

19.61

18.97

18.38

18.32

17.35

17.16

-0.226 -0.244 -0.216 -0.170 -0.107 -0.092 -0.079 0.028

0.009

0.006

0.004

0.003

0.003

0.004

SAIPEM SPA

Energy

16.42

19.05.2014

31.38

32.35

32.66

33.07

33.25

33.25

-0.299 -0.153 -0.125 -0.064 -0.071 -0.071

0.022

0.008

0.005

0.003

0.000

0.000

EEE GA Equity

COCA-COLA HBC AG-CDI

Consumer Staples

21.05

CRDA LN Equity

CRODA INTERNATIONAL PLC

Materials

MEO GY Equity

METRO AG

Consumer Staples

29.73

29.27

28.40

-0.303 -0.151 -0.090 -0.100 -0.104 -0.062 0.006

0.030

0.000

0.000

0.003

BDEV LN Equity

BARRATT DEVELOPMENTS PLC

Consumer Discretionary

-0.110 -0.104 -0.090 -0.059

CLN VX Equity

CLARIANT AG-REG

Materials

25.73

26.72

28.19

0.001

0.001

0.001

SUBC NO Equity

SUBSEA 7 SA

LUPE SS Equity

LUNDIN PETROLEUM AB

ANTO LN Equity DIA SQ Equity

0.000

UMI BB Equity

2525.00

2.55%

28.36

29.42

25.93

16.65

0.061

0.014 -0.053

0.001

30.04.2014 14.02.2014

26.27

26.12

26.69

28.39

357.00

0.98%

23.10.2013

25.00

25.00

25.16

25.17

14.85

2.22%

27.03.2014

20.83

21.21

22.08

24.04

Energy

110.90

3.21%

01.07.2014

33.74

33.09

31.78

30.21

Energy

143.30

28.00

26.44

26.23

26.20

ANTOFAGASTA PLC

Materials

880.00

1.89%

18.09.2013

34.28

34.50

34.98

35.48

DISTRIBUIDORA INTERNACIONAL

Consumer Staples

6.31

2.38%

16.07.2014

36.95

33.91

31.83

27.60

24.73

23.59

UMICORE

Materials

34.52

2.90%

02.05.2014

22.79

22.05

22.16

22.34

22.71

22.71

-0.202 -0.148 -0.150 -0.133 -0.127 -0.127

0.030

ILD FP Equity

ILIAD SA

Telecommunication Services 183.10

0.21%

03.06.2014

28.42

29.05

26.82

26.04

26.63

26.67

-0.171 -0.122 -0.116 -0.093 -0.069 -0.075

QIA GY Equity

QIAGEN N.V.

Health Care

20.26

21.15

21.66

22.73

23.29

23.22

COB LN Equity

COBHAM PLC

Industrials

306.50

3.16%

09.10.2013

WG/ LN Equity

WOOD GROUP (JOHN) PLC

Energy

889.50

1.46%

28.08.2013

AMEC LN Equity

AMEC PLC

Energy

1086.00

3.59%

27.11.2013

PGHN SE Equity

PARTNERS GROUP HOLDING AG

Financials

251.75

2.58%

05.05.2014

22.77

22.74

22.74

22.75

23.23

23.02

SDR LN Equity

SCHRODERS PLC

Financials

2574.00

1.94%

14.08.2013

ACS SQ Equity

ACS ACTIVIDADES CONS Y SERV

Industrials

21.95

5.38%

07.07.2014

25.88

25.26

25.02

22.59

21.35

22.09

ISYS LN Equity

INVENSYS PLC

Industrials

503.50

1.20%

13.11.2013

24.31

23.79

22.69

24.21

ISAT LN Equity

INMARSAT PLC

Telecommunication Services 725.00

4.22%

14.05.2014

PFC LN Equity

PETROFAC LTD

Energy

1268.00

3.85%

18.09.2013

23.73

24.14

25.03

25.67

LISN SE Equity

LINDT & SPRUENGLI AG-REG

Consumer Staples

42710.00

1.52%

22.04.2014

15.37

14.62

14.59

14.57

15.06

15.17

HO FP Equity

THALES SA

Industrials

39.32

2.54%

11.12.2013

25.12

25.35

25.55

26.03

26.79

26.60

24.69

GFS LN Equity

G4S PLC

Industrials

228.50

4.25%

18.09.2013

INF LN Equity

INFORMA PLC

Consumer Discretionary

533.00

3.64%

23.04.2014

LXS GY Equity

LANXESS AG

Materials

44.62

1.79%

26.05.2014

36.76

32.12

31.59

31.13

29.89

30.51

30.61

-0.057 -0.041 -0.042 -0.046 0.007

0.019

0.045

SRP LN Equity

SERCO GROUP PLC

Industrials

644.50

1.54%

05.09.2013

ENG SQ Equity

ENAGAS SA

Utilities

18.18

6.93%

19.12.2013

23.20

23.13

23.25

23.58

24.12

24.08

24.57

-0.073 -0.073 -0.128 -0.207 -0.015 0.104

0.048

SY1 GY Equity

SYMRISE AG

Materials

32.97

2.27%

16.05.2014

30.83

25.78

25.10

25.79

28.25

28.11

BKG LN Equity

BERKELEY GROUP HOLDINGS

Consumer Discretionary

2347.00

2.51%

MTX GY Equity

MTU AERO ENGINES AG

Industrials

70.14

2.35%

09.05.2014

24.54

24.20

24.24

24.82

24.90

24.59

MEO1V FH Equity METSO OYJ

Industrials

26.91

6.87%

02.04.2014

27.95

26.98

26.98

JMT PL Equity

JERONIMO MARTINS

Consumer Staples

14.57

2.47%

05.05.2014

DSV DC Equity

DSV A/S

Industrials

147.60

1.06%

24.03.2014

20.79

20.69

21.83

23.47

IAG LN Equity

INTL CONSOLIDATED AIRLINE-DI

Industrials

329.20

04.03.2014

34.59

33.53

32.82

32.06

PRY IM Equity

PRYSMIAN SPA

Industrials

17.22

2.61%

21.04.2014

28.12

28.11

28.57

28.54

27.78

27.78

CABK SQ Equity

CAIXABANK S.A

Financials

2.85

8.08%

10.09.2013

26.03

25.91

24.88

25.27

26.31

20.09

19.80

-0.160 -0.203 -0.138 -0.167 -0.183 0.189

PSM GY Equity

PROSIEBEN SAT.1 MEDIA AG-PRF

Consumer Discretionary

33.46

4.36%

23.07.2014

32.70

32.82

32.78

32.36

33.48

33.40

34.67

-0.145 0.053

HNR1 GY Equity

HANNOVER RUECKVERSICHERU-REG Financials

57.10

4.73%

08.05.2014

23.15

22.13

22.18

22.62

22.83

23.16

22.98

-0.254 -0.161 -0.127 -0.123 -0.076 -0.077 -0.082 0.021

0.006

SKG ID Equity

SMURFIT KAPPA GROUP PLC

Materials

15.03

2.21%

25.09.2013

37.30

35.91

36.01

35.54

34.02

34.86

-0.085 -0.037 -0.008 -0.013 -0.005 0.013

0.002

LHA GY Equity

DEUTSCHE LUFTHANSA-REG

Industrials

14.84

3.37%

08.05.2014

25.34

26.00

26.38

27.08

28.26

26.92

EZJ LN Equity

EASYJET PLC

Industrials

1448.00

1.80%

26.02.2014

SPSN VX Equity

SWISS PRIME SITE-REG

Financials

68.90

5.22%

21.04.2014

14.55

13.89

13.92

14.00

14.74

14.77

-0.207 -0.058 -0.051 -0.043 -0.001 -0.005

KN FP Equity

NATIXIS

Financials

32.28

-0.321 -0.210 -0.177 -0.160 -0.186 -0.085

16.13

27.55 23.91

23.18

0.008

0.004

0.002

0.000

0.000

0.001

0.002

-0.275 -0.122 -0.119 -0.104 -0.057 -0.057 -0.041 0.032

0.009

0.004

0.003

-0.126 -0.129 -0.133 -0.166

0.011

0.010

0.007

0.003

-0.312 -0.149 -0.121 -0.097 -0.018

0.045

0.013

0.007

0.002

-0.050 -0.051 -0.052 -0.042

0.009

0.008

0.005

0.002

-0.260 -0.242 -0.221 -0.169 -0.144 -0.124 -0.118 0.003

0.001

0.001

0.000

0.000

0.000

0.007

0.003

0.003

0.002

0.002

0.008

0.004

0.003

0.002

0.001

0.001

-0.151 -0.128 -0.111 -0.075 -0.081 -0.082 -0.078 0.024

0.007

0.002

0.002

0.001

0.002

-0.133 -0.006 -0.001 -0.001 0.012

0.014

0.000

0.000

0.000

0.000

0.000

0.002

0.002

0.004

0.005

0.003

0.487

0.023

0.020

0.013

0.001

0.003

0.003

0.003

0.000

0.007

0.000

0.000

0.000

0.000

0.000

-0.206 -0.122 -0.110 -0.075 -0.056 -0.052 -0.065 0.023

0.005

0.003

0.002

0.000

0.000

0.001

0.013

0.004

0.002

0.002

0.001

0.000

0.000

0.001

0.000

0.001

0.002 -0.001 -0.002 -0.001

28.56

-0.152 -0.112 -0.102 -0.102 -0.072 -0.070 -0.084 0.005

0.004

0.001

0.001

0.001

0.001

0.001

24.72

0.071 -0.059 -0.066 -0.067 -0.024 -0.022 -0.021 0.014

0.005

0.003

0.002

0.001

0.002

0.002

-0.160 -0.133 -0.133

0.009

0.002

0.002

-0.258 -0.207 -0.099 -0.091

0.027

0.009

0.001 -0.001

0.086 -0.061 -0.067 -0.032

0.006

0.004

0.002

0.002

-0.028 -0.149 -0.134 -0.079 -0.054 -0.054

0.017

0.003

0.002

0.001

0.001

0.001

0.163

0.005

0.006

0.004

0.003

0.003

0.083

0.009 -0.001 0.000

0.411

0.247

0.038

0.017 -0.025 -0.114 -0.174

3.94

2.54%

02.06.2014

38.20

32.34

30.94

30.83

31.30

TRELB SS Equity TRELLEBORG AB-B SHS

Industrials

118.30

2.70%

25.04.2014

21.45

21.33

23.17

27.20

27.20

LSE LN Equity

LONDON STOCK EXCHANGE GROUP

Financials

1630.00

1.92%

04.12.2013

24.73

24.46

23.88

23.12

FUR NA Equity

FUGRO NV-CVA

Energy

-0.072 0.003

25.98

0.008

0.054

0.006

0.039

0.019

0.047

-0.194 -0.157 -0.158 -0.123 0.014

-0.138 -0.031 0.000

0.000

0.024

0.079

0.035

0.095

0.000

-0.034 -0.032 -0.027 -0.006

46.13

3.47%

12.05.2014

25.53

23.41

23.37

23.80

23.81

23.81

STERV FH Equity STORA ENSO OYJ-R SHS

Materials

5.70

5.27%

23.04.2014

18.18

20.21

21.99

25.60

LI FP Equity

KLEPIERRE

Financials

33.36

4.65%

21.04.2014

28.15

26.75

25.89

25.30

24.38

24.18

INCH LN Equity

INCHCAPE PLC

Consumer Discretionary

638.00

2.62%

21.05.2014

VOE AV Equity

VOESTALPINE AG

Materials

29.38

3.23%

07.07.2014

25.69

23.47

23.90

25.37

32.58

ATO FP Equity

ATOS

Information Technology

58.28

1.17%

06.06.2014

20.17

20.60

21.51

23.29

24.52

ADM LN Equity

ADMIRAL GROUP PLC

Financials

1332.00

6.84%

11.09.2013

BKIR ID Equity

BANK OF IRELAND

Financials

0.18

14.08.2013

42.46

43.24

45.06

44.05

LONN VX Equity

LONZA GROUP AG-REG

Health Care

21.68

22.17

22.93

DRX LN Equity

DRAX GROUP PLC

Utilities

ANDR AV Equity

ANDRITZ AG

Industrials

25.07

24.66

25.36

SCH NO Equity

SCHIBSTED ASA

Consumer Discretionary

MAN GY Equity

MAN SE

Industrials

IIA AV Equity

IMMOFINANZ AG

Financials

RMV LN Equity

RIGHTMOVE PLC

SXS LN Equity PNN LN Equity

0.001

0.001 0.000

0.003

0.002

0.001

0.001

0.002

0.001

0.001

0.000

0.001

0.000

0.034

0.007

0.004

0.003

0.000

0.001

0.021

0.002

0.001

0.001

0.000

0.000

0.026

0.001 -0.002 0.004

0.003

0.003

0.004

0.000

0.000

0.000

0.000

-0.002 -0.001 0.000

0.001

0.012

0.007

0.004

-0.233 -0.104 -0.039 -0.035

0.030

0.006

0.002

0.002

-0.167 -0.192 -0.168 -0.191 -0.092 -0.087

0.008

0.003

0.002

0.003

34.24

-0.791 -0.328 -0.166 -0.099 0.338

0.549

0.046

0.021

0.008

0.005 -0.005 -0.008

24.52

-0.104 -0.102 -0.098 -0.085 -0.069 -0.069

0.006

0.005

0.004

0.002

0.001

0.001

44.21

44.13

-0.174 0.029

0.056 -0.031 0.002 -0.012

0.045

0.005 -0.002 -0.001 0.000

0.000

24.58

25.60

26.01

-0.283 -0.219 -0.169 -0.131 -0.050 -0.056

0.030

0.009

0.006

0.003

0.001

26.17

35.49

36.88

-0.417 -0.333 -0.136 -0.039 0.476

0.574

0.021

0.015

0.002

0.003 -0.008 -0.010

0.008 -0.008 -0.019 -0.050 0.008

0.010

0.007

0.001

0.001

0.003

0.192 -0.035 0.238

0.970

0.023

0.025

0.018

0.019 -0.012 -0.014

-0.398 -0.132 -0.109 -0.121 -0.077

0.088

-0.271 -0.044 -0.092 -0.117 -0.128

72.70

2.96%

07.04.2014

2.01%

23.04.2014

41.94

3.46%

26.03.2014

305.30

1.47%

16.05.2014

86.04

1.74%

10.06.2014

10.52

10.05

9.91

9.65

9.77

9.50

3.16

4.75%

08.10.2013

28.50

20.81

21.19

22.27

38.83

40.25

Consumer Discretionary

2462.00

1.06%

07.05.2014

SPECTRIS PLC

Information Technology

2206.00

PENNON GROUP PLC

Utilities

23.81

9.34

0.328

0.681

0.015

0.003

0.000 -0.001 0.000

-0.554 -0.271 -0.248 -0.196 -0.119 -0.119 -0.119 0.023

670.50

0.002

-0.112 -0.138 -0.138 -0.270 -0.367 -0.307 -0.330 0.002

22.65

0.013

0.000

0.002

0.002

0.002

0.002

0.001

0.000

0.000

0.001

0.002

0.000

1.93%

28.05.2014

705.00

4.14%

29.01.2014

TEL2B SS Equity TELE2 AB-B SHS

Telecommunication Services 84.30

5.93%

13.05.2014

15.40

16.72

17.47

18.72

22.62

0.040

0.016

0.006

0.002

BOL SS Equity

BOLIDEN AB

Materials

93.05

2.15%

06.05.2014

25.59

25.01

25.33

26.97

28.76

0.042

0.022

0.014

0.004

0.001

SEV FP Equity

SUEZ ENVIRONNEMENT CO

Utilities

11.05

5.89%

26.05.2014

28.75

29.43

29.22

28.17

27.81

26.21

24.57

-0.245 -0.164 -0.148 -0.109 -0.035 -0.023 -0.102 0.032

0.003

0.002

0.001

0.002

CAPC LN Equity

CAPITAL & COUNTIES PROPERTIE

Financials

362.50

0.41%

21.05.2014

SDF GY Equity

K+S AG-REG

Materials

16.93

8.27%

15.05.2014

74.93

63.13

58.73

51.29

38.85

40.16

39.19

-0.259 -0.277 -0.284 -0.243 0.113

0.002

0.002

0.001

0.000

0.002 -0.001 0.001

RXL FP Equity

REXEL SA

Industrials

18.87

4.13%

26.05.2014

NHY NO Equity

NORSK HYDRO ASA

Materials

25.05

2.99%

09.05.2014

45.16

30.75

34.11

31.11

-0.224 -0.344 -0.248 -0.200

0.083

0.063

0.035

0.012

ROR LN Equity

ROTORK PLC

Industrials

2890.00

1.67%

09.04.2014

COLR BB Equity

COLRUYT SA

Consumer Staples

41.88

2.39%

27.09.2013

20.42

20.64

20.23

20.61

20.08

20.08

-0.247 -0.092 -0.043 -0.066 -0.061 -0.061

0.027

0.006

0.003

0.003

0.000

0.000

GALN SE Equity

GALENICA AG-REG

Health Care

727.00

1.51%

07.05.2014

19.89

21.93

22.52

24.30

25.56

25.38

-0.302 -0.136 -0.113 -0.122 -0.110 -0.108

0.011

0.003

0.002

0.001

0.001

0.001

DMGT LN Equity

DAILY MAIL&GENERAL TST-A NV

Consumer Discretionary

827.50

2.33%

27.11.2013

UBI IM Equity

UBI BANCA SCPA

Financials

3.17

1.89%

19.05.2014

34.97

34.98

35.17

34.71

34.46

34.46

-0.286 -0.211 -0.195 -0.174 -0.155 -0.155

0.012

0.002

0.000

0.001

0.001

0.001

MF FP Equity

WENDEL

Financials

88.21

1.98%

09.06.2014

27.71

24.83

24.28

24.47

25.11

24.96

0.010

0.004

0.003

0.004

0.003

0.003

BOSS GY Equity

HUGO BOSS AG -ORD

Consumer Discretionary

90.80

4.07%

05.05.2014

21.97

24.24

25.56

28.42

29.31

29.95

30.25

-0.174 -0.056 -0.050 -0.073 0.018

0.006

0.001

0.001

0.000

0.000 -0.001 -0.001

DLN LN Equity GBF GY Equity

DERWENT LONDON PLC BILFINGER SE

Financials Industrials

2397.00 74.55

1.46% 4.02%

25.09.2013 22.04.2014

28.44

25.57

25.44

26.45

26.74

26.67

26.70

-0.200 -0.147 -0.115 -0.115 -0.084 -0.083 -0.091 0.014

0.005

0.003

0.003

0.001

0.091

0.095

-0.305 -0.165 -0.114 -0.122 -0.108 -0.102

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

0.016

0.028

0.001

0.001

0.001

0.002


06.08.2013

Stoxx 600 Index

Ticker

Name

CGG FP Equity CGG SMDS LN Equity DS SMITH PLC TCG LN Equity THOMAS COOK GROUP PLC PFG LN Equity PROVIDENT FINANCIAL PLC GN DC Equity GN STORE NORD A/S INDUA SS Equity INDUSTRIVARDEN AB-A SHS PSPN SE Equity PSP SWISS PROPERTY AG-REG PWL ID Equity PADDY POWER PLC FGR FP Equity EIFFAGE ETL FP Equity EUTELSAT COMMUNICATIONS GET FP Equity GROUPE EUROTUNNEL SA - REGR DL NA Equity DELTA LLOYD NV ING FP Equity INGENICO SGRO LN Equity SEGRO PLC HL/ LN Equity HARGREAVES LANSDOWN PLC SBMO NA Equity SBM OFFSHORE NV SUN VX Equity SULZER AG-REG SKYD GY Equity SKY DEUTSCHLAND AG INVP LN Equity INVESTEC PLC EGPW IM Equity ENEL GREEN POWER SPA UTDI GY Equity UNITED INTERNET AG-REG SHARE IAP LN Equity ICAP PLC INTU LN Equity INTU PROPERTIES PLC DCC LN Equity DCC PLC SPX LN Equity SPIRAX-SARCO ENGINEERING PLC POH1S FH Equity POHJOLA BANK PLC-A SHS RMS FP Equity HERMES INTERNATIONAL MS IM Equity MEDIASET SPA CHR DC Equity CHR HANSEN HOLDING A/S BB FP Equity SOCIETE BIC SA IGG LN Equity IG GROUP HOLDINGS PLC BELG BB Equity BELGACOM SA HLMA LN Equity HALMA PLC VPK NA Equity VOPAK OSR GY Equity OSRAM LICHT AG BKIA SQ Equity BANKIA SA TT/ LN Equity TUI TRAVEL PLC MMB FP Equity LAGARDERE SCA WDI GY Equity WIRECARD AG ADP FP Equity ADP EXO IM Equity EXOR SPA MB IM Equity MEDIOBANCA SPA TGS NO Equity TGS NOPEC GEOPHYSICAL CO ASA STJ LN Equity ST JAMES'S PLACE PLC JYSK DC Equity JYSKE BANK-REG GALP PL Equity GALP ENERGIA SGPS SA AML LN Equity AMLIN PLC TNTE NA Equity TNT EXPRESS NV UG FP Equity PEUGEOT SA SECUB SS Equity SECURITAS AB-B SHS DUFN SE Equity DUFRY AG-REG OPHR LN Equity OPHIR ENERGY PLC ESNT LN Equity ESSENTRA PLC LAD LN Equity LADBROKES PLC BOK LN Equity BOOKER GROUP PLC ICP LN Equity INTERMEDIATE CAPITAL GROUP HGG LN Equity HENDERSON GROUP PLC ELI1V FH Equity ELISA OYJ GNK LN Equity GREENE KING PLC NUO NA Equity NUTRECO NV GJF NO Equity GJENSIDIGE FORSIKRING ASA PC IM Equity PIRELLI & C. BOKA NA Equity BOSKALIS WESTMINSTER DWNI GY Equity DEUTSCHE WOHNEN AG-BR GPOR LN Equity GREAT PORTLAND ESTATES PLC PGS NO Equity PETROLEUM GEO-SERVICES PMO LN Equity PREMIER OIL PLC HWDN LN Equity HOWDEN JOINERY GROUP PLC ICAD FP Equity ICADE CORA NA Equity CORIO NV CGL LN Equity CATLIN GROUP LTD GAM SE Equity GAM HOLDING AG FPE3 GY Equity FUCHS PETROLUB SE -PREF MHG NO Equity MARINE HARVEST SAZ GY Equity STADA ARZNEIMITTEL AG TNET BB Equity TELENET GROUP HOLDING NV BOL FP Equity BOLLORE HELN SE Equity HELVETIA HOLDING AG-REG BWY LN Equity BELLWAY PLC DLG LN Equity DIRECT LINE INSURANCE GROUP FRES LN Equity FRESNILLO PLC RTO LN Equity RENTOKIL INITIAL PLC FNTN GY Equity FREENET AG RCO FP Equity REMY COINTREAU UBM LN Equity UBM PLC TCY LN Equity TELECITY GROUP PLC PNDORA DC EquityPANDORA A/S BBY LN Equity BALFOUR BEATTY PLC GFC FP Equity GECINA SA EMG LN Equity MAN GROUP PLC MAP SQ Equity MAPFRE SA RCF FP Equity TELEPERFORMANCE MEDAA SS Equity MEDA AB-A SHS TOP DC Equity TOPDANMARK A/S CNP FP Equity CNP ASSURANCES DXNS LN Equity DIXONS RETAIL PLC EMSN SE Equity EMS-CHEMIE HOLDING AG-REG MTGB SS Equity MODERN TIMES GROUP-B SHS IPF LN Equity INTERNATIONAL PERSONAL FINAN PTC PL Equity PORTUGAL TELECOM SGPS SA-REG CAST SS Equity CASTELLUM AB CNE LN Equity CAIRN ENERGY PLC BKT SQ Equity BANKINTER SA FLS DC Equity FLSMIDTH & CO A/S SHB LN Equity SHAFTESBURY PLC AKSO NO Equity AKER SOLUTIONS ASA HUSQB SS Equity HUSQVARNA AB-B SHS AALB NA Equity AALBERTS INDUSTRIES NV NEO FP Equity NEOPOST SA RHK GY Equity RHOEN-KLINIKUM AG AVV LN Equity AVEVA GROUP PLC AMEAS FH Equity AMER SPORTS OYJ SZU GY Equity SUEDZUCKER AG ORNBV FH Equity ORION OYJ-CLASS B CBG LN Equity CLOSE BROTHERS GROUP PLC FDR FP Equity FONCIERE DES REGIONS AFR LN Equity AFREN PLC ZOT SQ Equity ZARDOYA OTIS SA HIK LN Equity HIKMA PHARMACEUTICALS PLC DKSH SE Equity DKSH HOLDING LTD HOT GY Equity HOCHTIEF AG VIS SQ Equity VISCOFAN SA BP IM Equity BANCO POPOLARE SCARL OERL SE Equity OC OERLIKON CORP AG-REG HTO GA Equity HELLENIC TELECOMMUN ORGANIZA FRA GY Equity FRAPORT AG FRANKFURT AIRPORT

GICS_SECTOR_NAME

ATM2 Ref

Energy 17.83 Materials 261.40 Consumer Discretionary 168.20 Financials 1735.00 Health Care 119.50 Financials 125.50 Financials 83.70 Consumer Discretionary 61.30 Industrials 42.53 Consumer Discretionary 21.15 Industrials 5.88 Financials 16.25 Information Technology 57.52 Financials 312.60 Financials 1022.00 Energy 14.74 Industrials 138.40 Consumer Discretionary 6.60 Financials 437.20 Utilities 1.69 Information Technology 24.53 Financials 401.30 Financials 330.30 Industrials 2664.00 Industrials 2935.00 Financials 13.28 Consumer Discretionary 264.00 Consumer Discretionary 3.58 Materials 189.50 Industrials 92.21 Financials 603.00 Telecommunication Services 18.22 Information Technology 567.00 Industrials 41.95 Industrials 28.53 Financials 0.68 Consumer Discretionary 395.70 Consumer Discretionary 24.12 Information Technology 23.25 Industrials 78.30 Financials 25.55 Financials 4.82 Energy 183.50 Financials 640.50 Financials 252.40 Energy 12.42 Financials 410.80 Industrials 6.25 Consumer Discretionary 9.93 Industrials 64.80 Consumer Discretionary 118.90 Energy 378.20 Materials 830.50 Consumer Discretionary 209.10 Consumer Staples 137.30 Financials 491.50 Financials 175.70 Telecommunication Services 16.27 Consumer Discretionary 898.00 Consumer Staples 35.70 Financials 93.45 Consumer Discretionary 9.65 Industrials 28.61 Financials 13.77 Financials 552.50 Energy 79.70 Energy 357.90 Consumer Discretionary 293.30 Financials 68.02 Financials 32.73 Financials 509.00 Financials 15.30 Materials 59.51 Consumer Staples 5.93 Health Care 35.95 Consumer Discretionary 37.30 Industrials 349.10 Financials 426.00 Consumer Discretionary 1482.00 Financials 231.70 Materials 970.50 Industrials 98.05 Telecommunication Services 17.87 Consumer Staples 80.27 Consumer Discretionary 718.50 Information Technology 870.00 Consumer Discretionary 229.70 Industrials 250.50 Financials 94.38 Financials 93.80 Financials 2.85 Industrials 36.75 Health Care 72.45 Financials 156.00 Financials 13.40 Consumer Discretionary 46.14 Materials 330.75 Consumer Discretionary 314.30 Financials 654.50 Telecommunication Services 2.87 Financials 95.60 Energy 269.60 Financials 3.49 Industrials 261.60 Financials 640.00 Energy 88.95 Consumer Discretionary 40.08 Industrials 19.47 Information Technology 53.39 Health Care 18.30 Information Technology 2478.00 Consumer Discretionary 15.39 Consumer Staples 23.31 Health Care 18.53 Financials 1107.00 Financials 63.65 Energy 142.70 Industrials 10.89 Health Care 1103.00 Industrials 82.75 Industrials 57.07 Consumer Staples 39.74 Financials 1.00 Industrials 12.50 Telecommunication Services 7.12 Industrials 49.32

Dividend Yield

3.21% 4.87% 0.75% 4.18% 3.70% 2.28% 3.06% 5.11% 2.38% 9.23% 1.22% 4.73% 2.70% 2.38% 4.69% 2.00% 1.43% 5.48% 4.54% 2.99% 2.04% 3.77% 1.14%

Next ExDividend Date 02.04.2014 12.03.2014 21.05.2014 21.03.2014 08.05.2014 07.04.2014 04.09.2013 24.04.2014 14.11.2013 03.06.2014 12.08.2013 12.05.2014 19.03.2014 11.09.2013 27.05.2014 11.04.2014

1.77% 2.98% 3.86% 11.96% 1.98% 2.34%

11.12.2013 19.05.2014 02.06.2014 01.01.2014 23.04.2014 13.11.2013 09.10.2013 25.03.2014 26.02.2014 19.05.2014 27.11.2013 21.05.2014 18.09.2013 10.12.2013 01.01.2014 28.04.2014

3.22% 5.39% 0.65% 2.71% 1.37% 3.32% 4.63% 2.37%

05.03.2014 08.05.2014 27.06.2014 12.05.2014 23.06.2014 18.11.2013 04.06.2014 09.04.2014

2.32% 6.13% 1.62%

09.09.2013 04.09.2013 14.04.2014 04.06.2014 08.05.2014 16.05.2014

4.63%

1.81% 4.21% 2.04% 4.27% 4.44% 7.99% 3.01% 3.15% 5.99% 3.94% 4.44% 2.32% 1.59% 3.07%

09.04.2014 11.09.2013 30.10.2013 27.11.2013 28.08.2013 26.03.2014 18.12.2013 03.04.2014 25.04.2014 19.05.2014 12.05.2014 28.05.2014 15.11.2013 14.05.2014

1.36% 5.59% 7.09% 6.09% 3.59% 2.10%

21.05.2014 26.06.2014 22.04.2014 21.08.2013 21.04.2014 12.05.2014

1.95%

28.05.2014 28.08.2014 17.09.2013 08.05.2014 11.12.2013 05.03.2014 16.04.2014 11.09.2013 12.05.2014 01.08.2014 23.04.2014 12.03.2014 21.03.2014 09.10.2013 21.04.2014 23.04.2014 12.12.2013 02.06.2014 12.05.2014

0.97% 4.23% 1.68% 5.48% 5.66% 2.55% 7.55% 3.61% 4.01% 1.09% 2.39% 5.63% 4.77% 4.05% 4.57% 1.96% 3.17% 5.90%

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

37.93

34.42

32.91

34.15

34.33

34.46

41.77

35.99

34.94

34.45

14.59

14.46

14.49

32.86 24.33 35.31 23.51

31.27 21.50 28.95 22.13

29.39 20.53 38.37 21.21 27.48 28.85 26.10

0.001

0.001

14.46

14.54

14.47

31.95 21.79 27.41 22.09

33.22 23.08 24.77 23.38

32.95 23.56 24.01 23.62

33.29 24.36 24.04 23.62

0.002

0.002

0.002

0.002 0.002 0.002 0.000 0.001 0.002 0.003 -0.002 0.000 0.011 0.005 0.003

0.001 0.001 0.000 0.002

0.000 0.002 0.000 0.002

25.78 20.35 35.85 21.15 29.31 24.12 26.19

25.56 20.59 35.36 21.01 30.29 23.56 26.37

26.83 21.33 34.94 21.10 29.41 23.47 26.72

27.95 22.17 36.34

28.02 21.97 35.69

0.003 0.002 0.003 0.003 0.000 0.006 0.002

0.001 0.002 0.002

0.002 0.002 0.002

32.01 23.54

32.01 24.22

0.001 0.003

0.001 0.002

21.06 42.49

20.99 42.09

21.26 41.06

21.50 38.85

21.50 37.47

21.83 37.47

-0.122 -0.064 -0.056 -0.049 -0.037 -0.029 -0.173 -0.115 -0.109 -0.088 -0.070 -0.070

0.001 0.002

0.001 0.001

0.001 0.001

0.001 0.001

29.10

24.54

23.67

25.54

26.33

26.96

25.74

24.98

23.71

21.09

17.49

17.49

0.005

0.004

0.003

0.002

0.002

0.006

0.005

0.003

0.004

20.08 29.28 72.29

20.90 25.21 68.58

20.68 23.47 66.85

20.82 21.05 61.90

20.87 20.88 58.15

20.87 21.53 54.98

0.004

0.083 -0.134 -0.097 -0.109 -0.088 -0.088 0.022 -0.420 -0.269 -0.225 -0.174 -0.136 -0.113 -0.083 0.015 -0.228 -0.374 -0.388 -0.325 -0.205 -0.045 -0.041 0.011

0.008 0.006 0.004

0.002 0.004 0.008

0.003 0.003 0.001

0.002 0.002 0.002 0.001 0.001 0.000 -0.002 -0.003

23.88 26.86 19.65 26.54 37.07 32.22

24.07 27.19 20.58 26.41 37.59 32.44

24.48 27.52 21.39 26.82 36.06 32.87

25.31 29.34 21.75 27.64 32.72 33.23

26.97 31.32 21.80

28.31 31.30 21.72

-0.261 -0.193 -0.146 -0.043 -0.021 -0.209

-0.241 -0.137 -0.170 -0.034 -0.243 -0.205

-0.197 -0.124 -0.157 -0.038 -0.169 -0.198

-0.117 -0.146 -0.157 -0.040 0.009 -0.183

-0.061 -0.082 0.010 -0.120 -0.100 -0.097 0.020 -0.113 -0.115 0.009 0.004 0.065 0.065 0.027 0.007

0.009 0.002 0.003 0.002 0.003 0.006

0.007 0.003 0.003 0.001 0.004 0.004

0.003 0.003 0.003 0.000 0.003 0.000

0.002 0.002 0.001

0.003 0.002 0.001

32.88

32.88

0.002

0.002

30.34 49.26 25.92 29.68

30.15 48.48 20.09 28.88

26.81 48.07 19.90 28.61

29.84 46.77 19.86 30.02

31.91 45.26 21.64 30.33

31.91 44.24

-0.169 -0.196 -0.567 -0.088

-0.094 -0.160 -0.368 -0.090

-0.062 -0.166 -0.317 -0.057

-0.039 -0.162 -0.176 -0.062

0.000 0.000 0.000 0.050 -0.154 -0.053 -0.022 0.013 -0.104 0.105 -0.054 -0.049 0.008

0.013 0.004 0.055 0.002

0.003 0.003 0.040 0.002

0.002 0.003 0.015 0.001

0.001 0.001 0.001 0.001 -0.001 0.000 0.004 0.000 0.000

22.71

22.78

22.93

23.42

0.079

0.058

0.012 -0.046

0.001

0.001

0.002

0.003

16.91

17.36

26.88 18.66 28.11 24.41 24.27

26.42 18.82 28.15 22.49 25.31

18.71

24.01

-0.138 -0.106 -0.095 -0.240

0.023

0.005

0.002 -0.001

20.79 19.13 28.37 22.79 25.45

21.12 19.59 28.84 23.88 26.14

-0.316 -0.235 -0.274 -0.024 -0.159

0.027 0.040 0.025 0.022 0.018

0.009 0.036 0.007 0.009 0.002

0.004 0.027 0.004 0.005 0.001

0.003 0.009 0.003 0.006 0.000

29.47

29.86

30.63

32.28

0.012

0.010

0.007

0.001

28.64 19.57

28.19 19.27

28.20 19.52

28.24 20.40

28.03 21.46

30.31 21.46

-0.032 0.002 0.000 0.005 -0.251 -0.069 0.000 -0.157 -0.134 -0.113 -0.133 -0.077 -0.077 -0.077 0.032

0.000 0.008

0.000 0.004

0.000 0.004

29.43 29.13 25.49 39.37

28.83 27.43 25.65 33.22

29.39 27.78 25.97 33.06

30.27 28.67

30.79 28.15

31.00 28.41

28.38

33.74

33.68

34.33

0.027 0.009 0.089 0.005

0.005 0.004 0.002 0.000 -0.001 0.000 0.075 0.047 0.003 0.001 0.001

0.001 0.001 0.000 -0.001 -0.001

34.08

-0.251 -0.144 -0.415 0.069

21.38

21.21

21.33

21.78

22.68

22.30

0.002 -0.054 -0.053 -0.067 0.010

0.010

0.001

0.001

0.002

0.002

0.002

15.02 38.15 20.91 28.04 25.50

14.94 38.13 20.86 27.07 23.99

14.78 38.08 20.75 26.43 22.74

14.21 38.13 21.55 25.96 23.34

23.93 23.53

23.50 23.86

0.462 -0.238 0.094 -0.208 -0.179

-0.024 0.016 0.014 -0.021 0.002 0.002 -0.070 -0.001 0.000 -0.103 -0.021 -0.019 0.017 0.027 0.003 -0.089 -0.091 -0.093 0.006 0.002

0.010 0.002 0.001 0.003 0.001

0.002 0.001 0.000 0.004 0.002

0.003 0.001

0.005 0.002

51.92

50.17

47.69

47.69

25.33 48.05 39.69 25.51 27.79

25.08 49.36 34.80 25.41 23.99

25.14 51.63 33.08 25.96 24.76

25.41 52.24 29.51 27.04 25.09

27.22

26.44

25.82 26.80

23.56 26.06

22.35

22.35

30.04.2014 04.12.2013

21.32 56.29

21.69 55.40

22.49 53.49

23.74 47.26

2.27% 3.18% 1.33% 11.31% 4.29%

15.05.2014 19.03.2014 20.05.2014 21.03.2014

24.74

24.74

24.74

24.74

2.92% 4.01% 1.97% 4.50% 3.99% 1.90% 7.40% 2.19% 1.18% 2.60% 3.86% 6.21% 4.07% 6.76%

14.10.2013 07.04.2014 22.01.2014 18.04.2014 14.04.2014 29.04.2014 20.01.2014 12.06.2014 08.01.2014 10.03.2014 18.07.2014 20.03.2014 16.10.2013 05.05.2014

23.12 40.65 30.31

23.23 37.90 31.04

23.46 37.35 30.52

23.88 35.52 31.11

39.78 19.25 22.07 22.59 28.10

39.15 19.70 20.71 21.83 28.20

37.89 20.55 20.85 22.76 28.36

35.41 22.50 22.42 24.36 28.22

23.48

24.99

24.65

24.39

24.22

3.89% 1.24%

08.10.2013 05.09.2013

2.63% 2.97%

08.05.2014 23.12.2013 19.05.2014

25.55 31.13 24.25 40.48 33.37 49.63 20.73

24.76 30.84 23.15 41.80 30.09 49.78 20.18

2.64%

09.07.2014 15.05.2014

27.27 35.91

24.03

21.74 54.67

31.61

31.91 43.85

30.39

28.33

28.33

26.83

27.20

27.28

-0.100 -0.201 -0.153 -0.151 -0.115 -0.110

0.010

0.003

0.000

0.002

-0.218 -0.103 -0.064 -0.056

0.040

0.008

0.003

0.001

-0.103 -0.082 -0.087 -0.094 -0.087 -0.083

0.008

0.002

0.002

-0.140 -0.211 -0.080 -0.197

-0.082 -0.064 -0.088 -0.163

-0.082 -0.091 -0.074 -0.139

-0.089 -0.113 -0.077 -0.139

-0.044 -0.073 -0.094 -0.113

0.008 0.007 0.008 0.029

-0.327 -0.069 -0.497 -0.133 -0.342 -0.392 -0.092

-0.179 -0.199 -0.204 -0.127 -0.100 -0.343 -0.095

-0.169 -0.189 -0.169 -0.115 -0.090 -0.286 -0.099

-0.123 -0.138 -0.115 -0.081 -0.092 -0.210 -0.087

-0.090 -0.038 0.080 0.021 -0.114 -0.114 0.017 -0.123 -0.102 -0.105 0.016 0.006 -0.047 -0.047 0.015 -0.142 -0.110 -0.095 0.029 -0.002

0.007 0.003 0.003 0.005 0.003 0.016 -0.002

0.005 0.001 0.003 0.004 0.001 0.011 0.000

0.010 0.007

0.002 0.002

-0.203 -0.107 -0.079 -0.049 -0.042 -0.039

0.010

-0.392 -0.189 -0.148 -0.058 0.157

0.015

-0.144 -0.229 -0.144 -0.106 -0.102

-0.135 -0.217 -0.129 -0.106 -0.097

-0.043 -0.119 -0.073 -0.113

0.157

-0.119 -0.158 -0.107 0.000 0.000 -0.132 -0.093 -0.076 -0.063 -0.065

-0.164 -0.159 -0.149 -0.120

21.46

22.42

-0.203 0.034 -0.227 0.027

0.395 -0.206 0.068 -0.147 -0.115

-0.153 -0.133 -0.073 -0.058 0.024 -0.007 0.041 0.022 0.024 0.148 0.034 0.016 0.019 0.026 0.048

0.250 -0.137 0.014 -0.102 -0.090

0.015

-0.522 -0.126 -0.006 -0.006

24.26

-0.057 -0.037 -0.034 -0.113 -0.446

34.11

0.002 0.078 -0.189 -0.038 -0.133

0.044

0.009 -0.014 -0.037 0.003 0.018 0.013 -0.258 -0.354 -0.243 -0.204 0.003 -0.068 -0.051 -0.045 0.005 -0.027 0.098

0.004 0.002

0.001 0.002

0.002

0.000 -0.001 -0.001

0.008

0.014 0.004

0.010 0.004

0.004 0.002

0.000

0.000

0.000

0.000

0.000

-0.175 -0.160 -0.128 -0.082 -0.131 -0.110 -0.104 -0.096 -0.027 -0.005 0.052 -0.182 -0.193 -0.159 -0.101

0.005 0.003 0.026

0.005 0.002 0.005

0.006 0.003 0.002 0.001 0.000 -0.001 -0.002 0.002 -0.001

0.015 0.111 0.024 0.012 0.018

0.012 0.008 0.003 0.054 0.034 0.015 0.009 0.004 0.004 0.001 -0.001 0.000 0.009 0.003 0.002

0.000

-0.237 -0.543 -0.176 -0.016 -0.087

0.000

25.48 25.91

25.62

24.64

26.95

27.09

28.16

-0.008 -0.100 -0.113 -0.102 -0.084 -0.045 -0.038 0.021

0.001

0.001

24.29

24.23

25.95

25.59

-0.088 -0.009 0.001

0.004 -0.006 -0.018

0.010

0.000

24.72 30.75 23.02 41.42 30.20 50.10 20.50

24.81 30.67 23.02 40.78 30.76 50.60 20.99

24.48 30.51 23.46 38.03 31.45

24.16 30.89 23.44 38.03 31.68

20.67

20.40

-0.106 -0.157 -0.174 -0.432 -0.292 -0.019 -0.363

-0.078 -0.047 -0.167 -0.204 -0.164 -0.002 -0.139

0.008 0.011 0.001 0.032 0.022 0.001 -0.120 -0.129 -0.122 0.014

0.005 0.001 0.001 0.006 0.006 0.001 0.005

20.40

0.002

0.000 -0.001 0.000

0.015 0.004

-0.109 -0.022 -0.138 -0.269 -0.225 -0.016 -0.204

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

-0.233 -0.449 -0.133 -0.047 -0.036

0.137

23.62 26.10

31.09 23.22

0.002

0.003 -0.002 -0.002

-0.240 -0.870 -0.424 -0.018 -0.114

25.76

0.002

0.000 0.000 -0.001 0.001 0.003 -0.001 0.000 0.000 0.000 -0.001 -0.001 0.001 0.001 0.001 0.002 0.026 0.008

-0.056 -0.069 -0.097 -0.116 0.137 -0.011 -0.001 0.019 -0.039

35.26

0.002

0.000 0.003 0.001 0.000 0.044

0.000

34.15

0.000 0.091 -0.171 -0.025 -0.200

0.002

0.004

-0.106 -0.033 -0.160 -0.256 -0.195 -0.011 -0.145

-0.219 -0.263 -0.117 -0.135 -0.113 -0.034 -0.107 -0.032 -0.010 0.016 0.035

-0.095 -0.001 -0.026 -0.233 -0.230

-0.091 0.005 0.019 -0.023 -0.004 -0.233 -0.223

0.000

0.000

0.003 0.000 0.002

0.001 0.004

0.004

0.001

0.001

0.000

0.000

0.000

0.000

0.000

0.001

0.002 0.000 0.001 0.003 0.004 0.000 0.002

0.003 0.003 0.004 0.000 0.000 -0.001 -0.001 0.001 -0.001 0.000 -0.001 0.001 0.004 0.004 0.002 0.001 -0.001 0.000 0.002 0.001 0.002 0.003


06.08.2013

Stoxx 600 Index

Ticker

Name

GICS_SECTOR_NAME

ATM3 Ref

Dividend Yield

Next ExDividend Date

At The Money Implied Volatilities by Terms

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

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

GLB ID Equity

GLANBIA PLC

Consumer Staples

9.97

1.00%

04.09.2013

TOD IM Equity

TOD'S SPA

Consumer Discretionary

129.70

2.35%

19.05.2014

27.24

25.65

25.62

25.59

WDH DC Equity

WILLIAM DEMANT HOLDING

Health Care

498.10

FI/N SE Equity

FISCHER (GEORG)-REG

Industrials

510.50

2.94%

26.03.2014

25.23

24.51

24.98

25.66

25.77

-0.311 -0.252 -0.229 -0.173

0.008

0.006

0.006

0.005

-0.193 -0.102 -0.111 -0.112 -0.054 -0.062

0.008

0.002

0.002

0.002

-0.200 -0.094 -0.097 -0.076

0.001

0.002

NES1V FH Equity NESTE OIL OYJ

Energy

13.33

3.15%

07.04.2014

29.49

28.26

28.43

29.52

0.023

0.003

0.002

0.002

RF FP Equity

EURAZEO

Financials

47.16

2.54%

16.05.2014

24.04

24.07

24.15

24.19

24.75

24.71

0.158

0.002

0.009

0.000

0.000

0.000

0.000

0.000

CPR IM Equity

DAVIDE CAMPARI-MILANO SPA

Consumer Staples

5.93

1.43%

19.05.2014

22.90

22.80

22.37

23.01

23.49

23.53

-0.244 -0.060 -0.130 -0.060 -0.021 0.016

0.041

0.001

0.001

0.000

0.000

0.000

HAS LN Equity

HAYS PLC

Industrials

105.00

2.54%

09.10.2013

TRYG DC Equity

TRYG A/S

Financials

509.50

5.30%

22.04.2014

24.68

21.48

21.36

21.29

-0.180 -0.129 -0.113 -0.080

0.004

0.001

0.000

0.000

JUP LN Equity

JUPITER FUND MANAGEMENT

Financials

364.50

0.96%

SK FP Equity

SEB SA

Consumer Discretionary

64.02

1.95%

15.05.2014

22.96

22.70

22.67

22.65

23.25

23.20

0.011

0.000

0.000

0.000

0.000

0.000

SGC LN Equity

STAGECOACH GROUP PLC

Industrials

333.50

2.64%

05.02.2014

MPI LN Equity

MICHAEL PAGE INTERNATIONAL

Industrials

462.80

2.27%

04.09.2013

AF FP Equity

AIR FRANCE-KLM

Industrials

14.07.2014

40.48

41.41

41.15

40.08

38.15

37.52

-0.223 -0.158 -0.139 -0.111 0.006

0.016 -0.087 0.024

0.005

0.004

0.002

0.001

0.001

DEC FP Equity

JC DECAUX SA

Consumer Discretionary

24.62

2.03%

15.05.2014

29.77

28.77

28.76

28.17

28.15

27.54

-0.066 -0.083 -0.057 -0.066 0.012

0.016

0.002

0.002

0.002

0.000

0.001

DEB LN Equity

DEBENHAMS PLC

Consumer Discretionary

109.10

3.12%

04.12.2013

BTG LN Equity

BTG PLC

Health Care

386.30

SPR GY Equity

AXEL SPRINGER AG

19.19

19.44

19.65

20.20

21.40

21.19

0.003 -0.001 0.000

0.000

0.000

19.28

21.14

21.04

21.43

26.27

27.16

-0.908 -0.351 -0.171 -0.055 0.459

0.576

0.067

0.027

0.007

0.001 -0.003 -0.004

6.49

27.09

0.005 -0.002 0.003

-0.111 -0.010 -0.003 0.006

36.68

-0.058 -0.042 0.035

0.002

0.007

0.014

0.026 -0.006 -0.006 -0.043 0.012

0.000

Consumer Discretionary

39.21

4.72%

24.04.2014

KESBV FH Equity KESKO OYJ-B SHS

Consumer Staples

23.98

5.21%

08.04.2014

VIG AV Equity

VIENNA INSURANCE GROUP AG

Financials

41.59

3.25%

12.05.2014

JM SS Equity

JM AB

Consumer Discretionary

176.00

3.98%

25.04.2014

ASHM LN Equity

ASHMORE GROUP PLC

Financials

378.30

4.22%

06.11.2013

BES PL Equity

BANCO ESPIRITO SANTO-REG

Financials

0.73

BPE IM Equity

BANCA POPOL EMILIA ROMAGNA

Financials

4.76

1.05%

19.05.2014

47.88

46.47

43.84

46.88

45.14

52.23

-0.115 -0.150 -0.205 -0.128 -0.130 -0.123

0.000

0.003

0.002

0.002

0.002

0.003

NK FP Equity

IMERYS SA

Materials

48.60

3.09%

06.05.2014

23.65

23.39

23.32

23.47

24.23

24.38

-0.030 -0.001 0.003

0.002

0.000

0.000

0.000

0.000

0.000

BVIC LN Equity

BRITVIC PLC

Consumer Staples

560.50

3.25%

04.12.2013

LMI LN Equity

LONMIN PLC

Materials

318.10

39.52

39.67

39.99

40.52

0.014

0.012

0.008

0.003

ACKB BB Equity

ACKERMANS & VAN HAAREN

Financials

69.40

2.61%

02.06.2014

BARN SE Equity

BARRY CALLEBAUT AG-REG

Consumer Staples

898.50

1.89%

27.02.2014

17.72

17.46

17.45

17.43

17.82

17.64

-0.104 -0.034 -0.044 -0.061 0.000

0.004

0.008

0.002

0.001

0.001

0.000

0.000

PGIL LN Equity

POLYUS GOLD INTERNATIONAL LT

Materials

200.75

FHZN SE Equity

FLUGHAFEN ZUERICH AG-REG

Industrials

505.00

1.98%

30.04.2014

ULE LN Equity

ULTRA ELECTRONICS HLDGS PLC

Industrials

1896.00

2.21%

09.04.2014

NCCB SS Equity

NCC AB-B SHS

Industrials

170.80

5.85%

10.04.2014

PARG SE Equity

PARGESA HOLDING SA-BR

Financials

65.85

3.95%

13.05.2014

19.43

19.52

19.55

19.45

20.10

20.08

-0.062 -0.015 -0.004 -0.002 -0.004 -0.004

0.012

0.000

0.000

0.000

0.000

0.000

OTE1V FH Equity OUTOTEC OYJ

Industrials

9.20

3.59%

27.03.2014

POLY LN Equity

POLYMETAL INTERNATIONAL PLC

Materials

650.50

BCP PL Equity

BANCO COMERCIAL PORTUGUES-R

Financials

HOME LN Equity

HOME RETAIL GROUP

Consumer Discretionary

BMPS IM Equity

BANCA MONTE DEI PASCHI SIENA

Financials

0.21

19.05.2014

44.42

44.41

44.54

44.74

46.87

48.49

54.90

0.098 -0.203 -0.130 -0.125 -0.236 -0.314 -0.656 0.040

0.006

0.007

0.002

0.000 -0.003 -0.009

STB NO Equity

STOREBRAND ASA

Financials

34.22

3.80%

17.04.2014

38.16

37.38

35.81

35.42

-0.341 -0.316 -0.266 -0.144

0.053

0.046

0.032

0.006

DEQ GY Equity

DEUTSCHE EUROSHOP AG

Financials

32.62

3.86%

20.06.2014

19.41

19.34

19.29

19.20

16.51

19.21

19.86

-0.165 -0.104 -0.105 -0.110 0.007 -0.076 -0.062 0.012

0.003

0.002

0.002

0.003

0.003

0.003

CLLN LN Equity

CARILLION PLC

Industrials

300.20

5.80%

04.09.2013

VCT LN Equity

VICTREX PLC

Materials

1524.00

2.80%

05.02.2014

WIN GY Equity

WINCOR NIXDORF AG

Information Technology

49.77

2.65%

21.01.2014

24.30

24.39

24.78

25.29

24.91

26.45

26.34

-0.327 -0.107 -0.070 -0.023 -0.013 0.009 -0.004 0.015

0.006

0.005

0.004

0.002

0.002

0.002

TALK LN Equity

TALKTALK TELECOM GROUP

Telecommunication Services 250.60

4.75%

20.11.2013

FNC IM Equity

FINMECCANICA SPA

Industrials

3.79

2.64%

19.05.2014

33.71

35.05

35.53

36.37

36.22

36.22

-0.402 -0.207 -0.172 -0.125 -0.083 -0.083

0.004

0.003

0.001

0.001

0.001

OPAP GA Equity

OPAP SA

Consumer Discretionary

7.00

2.86%

20.06.2014

45.75

46.69

46.63

43.73

ELE SQ Equity

ENDESA SA

Utilities

17.49

4.29%

02.07.2014

31.71

30.22

30.03

29.14

28.82

27.78

28.34

-0.045 -0.040 -0.032 -0.043 0.014

0.001

0.001

0.000

0.001

0.001

0.001 -0.001

GIB GY Equity

GSW IMMOBILIEN AG

Financials

30.85

3.18%

30.06.2014

23.52

23.39

23.39

23.63

24.53

24.58

25.33

-0.118 -0.060 -0.072 -0.129 -0.111 -0.094 -0.091 0.014

0.001

0.001

0.001

0.001

0.000

0.000

SOW GY Equity

SOFTWARE AG

Information Technology

23.85

2.14%

05.05.2014

39.24

36.18

35.20

36.26

36.50

36.08

36.22

-0.223 -0.158 -0.126 -0.083 -0.079 -0.078 -0.097 0.012

0.002

0.001

0.000

0.001

0.001

0.002

BME SQ Equity

BOLSAS Y MERCADOS ESPANOLES

Financials

20.79

10.58%

27.12.2013

28.49

26.60

25.66

24.26

17.10

23.35

23.40

-0.090 -0.098 -0.091 -0.094 0.042

0.001

0.002

0.002

0.003

0.002

0.002

0.002

GXI GY Equity

GERRESHEIMER AG

Health Care

45.76

1.64%

22.04.2014

23.18

23.81

25.16

25.21

24.28

23.87

23.80

-0.230 -0.141 -0.083 -0.082 -0.084 -0.092 -0.074 0.009

0.005

0.002

0.002

0.001

0.001

0.001

FGP LN Equity

FIRSTGROUP PLC

Industrials

103.30

8.21%

08.01.2014

QQ/ LN Equity

QINETIQ GROUP PLC

Industrials

188.60

2.07%

15.01.2014

HTG LN Equity

HUNTING PLC

Energy

841.00

2.38%

23.10.2013

GCC ID Equity

C&C GROUP PLC

Consumer Staples

4.13

2.42%

30.10.2013

44.63

42.83

42.21

39.66

39.17

39.59

-0.041 -0.058 -0.057 -0.093 -0.113 -0.098

0.013

0.001

0.000

0.001

0.002

0.002

CLS1 GY Equity

CELESIO AG

Health Care

16.78

2.38%

19.05.2014

39.33

34.55

33.19

32.27

31.81

30.00

0.002

0.001

0.001

0.000

0.000

0.000

COFB BB Equity

COFINIMMO

Financials

86.77

6.91%

28.04.2014

21.19

22.74

22.05

20.45

20.76

19.95

0.006

0.003

0.002

0.003

0.002

0.003

EBRO SQ Equity

EBRO FOODS SA

Consumer Staples

16.44

3.16%

10.01.2014

29.20

27.15

26.15

24.22

22.72

22.53

22.54

0.002

0.000

0.000

0.001 -0.001 -0.001 -0.001

HAV FP Equity

HAVAS SA

Consumer Discretionary

5.80

2.24%

15.05.2014

26.00

26.25

26.78

27.84

0.012

0.010

0.007

0.002

RHM GY Equity

RHEINMETALL AG

Industrials

35.54

1.69%

14.05.2014

27.37

26.29

26.87

27.29

30.41

30.42

33.11

-0.186 -0.014 -0.023 -0.051 -0.115 -0.132 -0.205 0.011

0.001

0.000

0.002

0.000

0.000 -0.002

RUI FP Equity

RUBIS

Utilities

47.32

ELM LN Equity

ELEMENTIS PLC

Materials

261.40

2.05%

30.04.2014

RATOB SS Equity RATOS AB-B SHS

Financials

56.90

5.71%

17.04.2014

NDA GY Equity

AURUBIS AG

Materials

40.37

3.34%

28.02.2014

28.28

26.54

27.45

27.05

27.20

28.02

28.13

-0.035 -0.016 -0.008 -0.029 -0.014 -0.009 0.013

0.001

0.000

0.000

0.001

0.002

0.001

0.002

O2D GY Equity

TELEFONICA DEUTSCHLAND HOLDI

Telecommunication Services 5.10

9.21%

08.05.2014

28.37

27.79

27.11

27.39

25.25

27.06

27.03

-0.096 -0.013 -0.037 -0.041 0.084

0.026

0.002 -0.001 -0.001 0.002

0.001

0.001

VED LN Equity

VEDANTA RESOURCES PLC

Materials

1210.00

1.18%

27.11.2013

37.93

37.56

36.76

35.60

ECM LN Equity

ELECTROCOMPONENTS PLC

Information Technology

256.20

4.68%

04.12.2013

SYDB DC Equity

SYDBANK A/S

Financials

BPSO IM Equity

BANCA POPOLARE DI SONDRIO

36.94

36.49

36.48

36.46

08.01.2014

0.006 -0.016 -0.018

-0.042 -0.047 -0.057 -0.071

21.04.2014 2.18%

13.11.2013

0.000

30.01

0.113

0.044

0.065

0.066

0.054

0.000

0.023

0.000 -0.001 -0.001 0.000

0.014

129.10

1.55%

14.03.2014

4.04

4.95%

19.05.2014

Materials

11.99

4.59%

27.03.2014

LUNDB SS Equity LUNDBERGS AB-B SHS

Financials

277.80

1.62%

14.04.2014

YTY1V FH Equity YIT OYJ

Industrials

10.64

7.52%

18.03.2014

33.07

30.51

30.16

CWC LN Equity

CABLE & WIRELESS COMMUNICATI

Telecommunication Services 40.32

6.78%

13.11.2013

30.45

30.06

29.24

28.73

KABN SE Equity

KABA HOLDING AG-REG B

Industrials

378.75

2.38%

31.10.2013

16.12

16.66

17.28

17.76

MTO LN Equity

MITIE GROUP PLC

Industrials

273.80

4.00%

11.12.2013

ASM NA Equity

ASM INTERNATIONAL NV

Information Technology

23.82

2.10%

20.05.2014

24.79

25.02

25.07

26.02

HUFVA SS Equity HUFVUDSTADEN AB-A SHS

Financials

WHA NA Equity

-0.120 -0.075 -0.076 -0.084 0.011

15.89

16.42

16.98

18.03

19.26

19.26

32.15

31.65

17.55

17.16

-0.009 0.002

0.006

0.002

-0.085 -0.130 -0.082 -0.029 0.010

0.043

-0.104 -0.053 -0.050 -0.245 -0.214 -0.148 -0.031

0.002

0.004

0.003

0.003

-0.079 0.002 -0.001 0.001 -0.018 -0.022

4.25%

04.12.2013

VATN SE Equity

VALIANT HOLDING AG-REG

Financials

87.60

3.65%

29.05.2014

24.18

24.28

24.30

24.33

25.50

25.11

AIXA GY Equity

AIXTRON SE

Information Technology

12.00

26.05.2014

39.81

37.19

37.07

37.36

36.44

35.59

BPTY LN Equity

BWIN.PARTY DIGITAL ENTERTAIN

Consumer Discretionary

139.30

2.98%

11.09.2013

HOLMB SS Equity HOLMEN AB-B SHARES

Materials

193.00

4.66%

10.04.2014

17.23

15.73

16.24

18.26

PMI IM Equity

BANCA POPOLARE DI MILANO

Financials

0.38

2.63%

19.05.2014

47.13

47.66

47.88

46.56

44.25

44.25

BCVN SE Equity

BANQUE CANTONALE VAUDOIS-REG

Financials

483.50

6.62%

29.04.2014

19.43

19.39

19.37

19.35

16.52

16.29

0.000

0.099

TKA AV Equity

TELEKOM AUSTRIA AG

Telecommunication Services 5.17

0.97%

26.05.2014

29.68

25.51

26.20

26.89

23.86

23.20

-0.410 -0.193 -0.184 0.003

0.338

ALLN SE Equity

ALLREAL HOLDING AG-REG

Financials

131.20

4.19%

10.04.2014

BIM FP Equity

BIOMERIEUX

Health Care

77.35

1.36%

02.06.2014

21.53

21.58

21.57

21.46

21.94

21.82

-0.090 0.010

0.005

MAU FP Equity

MAUREL ET PROM

Energy

12.45

3.53%

23.06.2014

24.08

21.49

23.02

24.70

25.14

23.16

TRE SQ Equity

TECNICAS REUNIDAS SA

Energy

32.68

4.28%

17.01.2014

25.82

25.58

25.44

24.57

22.92

22.49

THR BB Equity

THROMBOGENICS NV

Health Care

32.38

65.67

65.10

59.69

51.35

ORI SS Equity

ORIFLAME COSMETICS SA-SDR

Consumer Staples

219.50

7.35%

22.05.2014

76.28

76.28

76.28

76.28

SZG GY Equity

SALZGITTER AG

Materials

25.98

0.96%

22.05.2014

22.80

21.82

22.05

22.77

27.33

37.13

MOBN SE Equity

MOBIMO HOLDING AG-REG

Financials

197.80

4.56%

11.04.2014

VER AV Equity

VERBUND AG

Utilities

14.93

6.70%

24.04.2014

21.51

20.44

20.85

21.98

29.69

31.85

RBI AV Equity

RAIFFEISEN BANK INTERNATIONA

27.06

30.21

29.59

29.28

31.99

30.60

37.54

37.55

37.49

37.62

34.66

36.40

02.07.2014 31.10.2013 21.01.2014

0 #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

0 #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

0 #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

0 #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

0 #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

0 #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

0 #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

0 #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

0 #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

0 #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

0 #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

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

0.002

0.000

0.000

0.000

0.000

0.000

-0.157 -0.130 -0.107 -0.109 -0.115 -0.099 -0.083 0.018

0.005

0.003

0.002

0.002

0.003

-0.488 -0.348 -0.326 -0.227

0.076

0.037

0.026

0.017

-0.309 -0.231 -0.210 -0.169 -0.091 -0.091

0.021

0.005

0.003

0.002

0.000

0.000

-0.067 -0.003 0.000

0.098

0.012

0.000

0.000

0.000

0.004

0.005

0.447

0.065

0.018

0.006

0.003 -0.002 -0.002

0.004

0.003 -0.001 0.000

0.000

0.000

0.000

0.022

0.003

0.001

0.004

0.007

0.006

-0.160 -0.113 -0.118 -0.113 -0.106 0.018

0.000

0.003

0.001

0.003

0.002

-0.126 -0.141 -0.147 -0.128 -0.101 -0.095 -0.090 -0.001 -0.002 -0.002 -0.001 -0.001 -0.001 -0.001 -0.443 -0.469 -0.472 -0.398

34.27

0.001

0.007

21.03.2014

995.50

6.56%

0.000

-0.158 -0.166 -0.129 -0.140 -0.034 -0.034 -0.034 0.032

22.04.2014

Industrials

6.93%

0.002

0.009

0.003

DE LA RUE PLC

5.10%

0.004

0.005

0.001

DLAR LN Equity

36.27

0.029

0.000

0.002

21.03.2014

36.93

0.000

0.001

4.82%

22.49

0.000

0.006

6.24%

35.72

0.006

0.019

-0.281 -0.111 -0.088 -0.088 19.26

0.131

0.002

3.23%

29.02

0.057

0.013

22.81

22.93

0.044

-0.004 -0.003 -0.002 0.000

52.85

Utilities

0.108

0.192

85.10

Financials

0.030

0.195

Industrials

Financials

0.031

0.134

-0.004 -0.003 -0.001 0.002

Financials

ACCIONA SA

0.082

0.083

-0.235 -0.135 -0.104 -0.132 -0.098 -0.102

KCR1V FH Equity KONECRANES OYJ

ANA SQ Equity

0.053

-0.193 -0.183 -0.163 -0.114

Financials

ECMPA NA Equity EUROCOMMERCIAL PROPERTIE-CV

0.022

-0.139 -0.129 -0.110 -0.067

KRA1V FH Equity KEMIRA OYJ

WERELDHAVE NV

0.001

08.04.2014

0.10 160.60

21.49

0.002

0.000

0.000

0.000

0.000

1.290

1.065

0.980

0.692

0.003

0.000 -0.001 -0.002

0.000

0.000

0.000

0.000

0.565

0.487

-0.156 -0.145 -0.089 -0.065 0.611

0.726

0.056

0.039

0.010

-0.353 -0.137 -0.085 -0.096 0.384

0.681

0.042

0.011

0.005 -0.001 -0.003 -0.005

-0.147 -0.151 -0.157 -0.208 -0.086 -0.131 -0.047 0.001

0.001

0.002

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

0.412 -0.019 -0.012 -0.008 0.005

0.002 -0.006 -0.005

0.009 -0.009 -0.011

0.002

0.002

0.002

0.002

STOXX 600 Index - Dividends and Implied Volatility Surfaces Parameters  
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