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01.10.2012

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

At The Money Implied Volatilities by Terms ATM Ref

Dividend Yield

Next ExDividend Date

224.20

3.79%

05.12.2012

23.69

23.69

23.66

23.26

-0.059 -0.059 -0.056 -0.027

0.003

0.003

0.003

0.003

Utilities

0.40

10.09%

24.06.2013

40.39

42.77

43.15

42.35

38.52

-0.299 -0.177 -0.193 -0.205 0.106

0.001

0.001

0.003

0.002

0.000

Industrials

14.29

2.45%

29.04.2013

19.79

21.48

21.97

23.26

24.56

-0.171 -0.165 -0.162 -0.120 -0.059

0.033

0.010

0.002

0.002

0.000

ABB LTD-REG

Industrials

17.85

4.48%

29.04.2013

21.08

22.66

22.68

23.35

24.45

24.87

25.69

-0.380 -0.272 -0.273 -0.194 -0.068 -0.042 -0.008 0.034

0.009

0.007

0.003

0.002

0.000 -0.001

GB0000031285

ABERDEEN ASSET MGMT PLC

Financials

315.80

3.61%

05.12.2012

ABE SQ Equity

ES0111845014

ABERTIS INFRAESTRUCTURAS SA

Industrials

11.73

5.63%

31.10.2012

26.31

26.34

25.79

24.55

24.96

25.42

25.23

-0.194 -0.210 -0.200 -0.185 -0.136 -0.109 -0.119 0.000

0.001

0.001

0.001

0.000

0.000

0.000

ANA SQ Equity

ES0125220311

ACCIONA SA

Utilities

45.45

6.82%

21.01.2013

41.39

40.54

39.71

37.17

35.17

35.07

34.47

-0.275 -0.235 -0.237 -0.151 -0.091 -0.094 -0.126 -0.001 0.001

0.001

0.002

0.002

0.002

0.002

AC FP Equity

FR0000120404

ACCOR SA

Consumer Discretionary

26.83

2.53%

11.06.2013

33.62

33.09

33.27

33.40

34.43

33.40

33.26

-0.211 -0.201 -0.186 -0.167 -0.131 -0.127 -0.111 0.008

0.002

0.002

0.002

0.001

0.002

0.002

ACX SQ Equity

ES0132105018

ACERINOX SA

Materials

9.07

5.29%

07.01.2013

35.28

33.98

32.93

31.91

31.20

31.85

32.25

0.030

0.072 -0.002 0.000

0.000

0.000

0.000 -0.001 -0.001

ACKB BB Equity

BE0003764785

ACKERMANS & VAN HAAREN

Financials

63.35

2.73%

31.05.2013

ACS SQ Equity

ES0167050915

ACS ACTIVIDADES CONS Y SERV

Industrials

16.56

6.95%

21.01.2013

38.77

37.47

36.95

36.54

33.51

30.29

26.23

-0.264 -0.230 -0.223 -0.213 -0.162 0.088

0.292

ATLN VX Equity

CH0010532478

ACTELION LTD-REG

Health Care

47.87

1.67%

06.05.2013

33.10

33.25

31.52

31.90

31.47

31.38

ADEN VX Equity

CH0012138605

ADECCO SA-REG

Industrials

45.88

4.14%

03.05.2013

34.74

35.70

34.90

33.09

31.98

30.77

31.81

ADS GY Equity

DE000A1EWWW0

ADIDAS AG

Consumer Discretionary

65.40

1.91%

10.05.2013

22.53

24.57

23.83

24.34

24.84

24.81

25.08

ADM LN Equity

GB00B02J6398

ADMIRAL GROUP PLC

Financials

1068.00

8.16%

15.05.2013

AGS LN Equity

GB00B4JV1B90

AEGIS GROUP PLC

Consumer Discretionary

235.80

AGN NA Equity

NL0000303709

AEGON NV

Financials

4.08

5.39%

16.05.2013

36.86

35.66

35.31

35.66

34.47

33.73

33.50

ADP FP Equity

FR0010340141

ADP

Industrials

61.56

3.02%

13.05.2013

20.85

20.69

20.59

20.73

21.22

21.07

AFR LN Equity

GB00B0672758

AFREN PLC

Energy

140.60

AGS BB Equity

BE0974264930

AGEAS

Financials

19.09

4.98%

29.04.2013

AGK LN Equity

GB00B4WQ2Z29

AGGREKO PLC

Industrials

2320.00

1.05%

17.04.2013

AF FP Equity

FR0000031122

AIR FRANCE-KLM

Industrials

5.20

AI FP Equity

FR0000120073

AIR LIQUIDE SA

Materials

98.01

AIXA GY Equity

DE000A0WMPJ6

AIXTRON SE

Information Technology

10.30

AKSO NO Equity

NO0010215684

AKER SOLUTIONS ASA

Energy

109.80

AKZA NA Equity

NL0000009132

AKZO NOBEL

Materials

44.45

ALU FP Equity

FR0000130007

ALCATEL-LUCENT

Information Technology

ALFA SS Equity

SE0000695876

ALFA LAVAL AB

Industrials

120.80

3.31%

ALV GY Equity

DE0008404005

ALLIANZ SE-REG

Financials

93.56

ALO FP Equity

FR0010220475

ALSTOM

Industrials

28.06

AMS SQ Equity

EU0009658145

AMADEUS IT HOLDING SA-A SHS

Information Technology

18.14

AMEC LN Equity

GB0000282623

AMEC PLC

Energy

AMEAS FH Equity FI0009000285

AMER SPORTS OYJ

Consumer Discretionary

AML LN Equity

GB00B2988H17

AMLIN PLC

Financials

ANDR AV Equity

AT0000730007

ANDRITZ AG

Industrials

AAL LN Equity

GB00B1XZS820

ANGLO AMERICAN PLC

Materials

ABI BB Equity

BE0003793107

ANHEUSER-BUSCH INBEV NV

Consumer Staples

ANTO LN Equity

GB0000456144

ANTOFAGASTA PLC

MAERSKB DC Equity DK0010244508 MT NA Equity

LU0323134006

AKE FP Equity

FR0010313833

ARM LN Equity

Stoxx 600 Index

Ticker

ISIN

Name

GICS_SECTOR_NAME

III LN Equity

GB00B1YW4409

3I GROUP PLC

Financials

A2A IM Equity

IT0001233417

A2A SPA

AALB NA Equity

NL0000852564

AALBERTS INDUSTRIES NV

ABBN VX Equity

CH0012221716

ADN LN Equity

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

0.032 -0.001 -0.016 0.001

0.048

0.002

0.000

0.000

0.000

0.001 -0.001 -0.001

0.012

0.002

0.003

0.000

0.000

0.000

-0.349 -0.259 -0.262 -0.211 -0.065 -0.089 -0.091 0.008

0.002

0.003

0.001

0.000

0.002

0.002

-0.264 -0.303 -0.266 -0.226 -0.164 -0.161 -0.080 0.021

0.006

0.006

0.003

0.002

0.003

0.001

-0.356 -0.346 -0.314 -0.265 -0.118 -0.085 -0.032 0.021

0.000

0.007

0.000

0.001

0.003

0.003

-0.085 0.017

0.017

0.000

0.000

0.000

0.000

0.000

0.001

-0.333 -0.073 -0.064 -0.038 -0.002 -0.011

12.06.2013 0.003

0.006

0.016

0.013

35.00

35.64

36.14

35.41

35.74

33.54

34.11

-0.281 -0.224 -0.216 -0.156 -0.018 -0.027 -0.032 0.008

0.006

0.004

0.001

0.002

0.002

16.07.2013

43.74

42.82

42.21

39.27

38.74

42.44

42.61

-0.174 -0.224 -0.151 -0.167 -0.095 -0.157 -0.231 0.014

0.006

0.006

0.003 -0.001 0.000

0.000

13.05.2013

19.85

20.86

20.92

21.17

21.76

20.47

19.27

-0.227 -0.250 -0.264 -0.230 -0.165 -0.146 -0.133 0.020

0.009

0.007

0.004

0.002

0.005

16.05.2013

36.97

38.12

38.45

40.89

42.19

44.51

45.69

-0.253 -0.285 -0.223 -0.214 -0.196 -0.231 -0.286 0.011

0.006

0.005

0.001

0.001 -0.002 -0.002

3.19%

15.04.2013

41.30

41.30

41.27

40.88

3.37%

22.10.2012

26.48

24.52

24.54

24.59

25.12

24.86

25.47

-0.072 -0.111 -0.166 -0.168 -0.091 -0.100 -0.074 0.013

0.004

10.06.2013

56.96

61.22

60.03

55.69

53.37

52.32

50.07

-0.269 -0.226 -0.300 -0.191 -0.211 -0.043 -0.014 0.026

0.000 -0.001 -0.002 0.002 -0.001 0.000

29.04.2013

30.04

31.05

29.44

30.69

32.12

-0.279 -0.198 -0.161 -0.097 0.150

0.039

0.012

0.007

0.003 -0.002

4.91%

10.05.2013

21.84

23.23

23.59

24.23

25.32

23.41

23.11

-0.227 -0.267 -0.269 -0.230 -0.086 -0.106 -0.046 0.018

0.008

0.005

0.003 -0.001 0.003

0.003

3.39%

27.06.2013

32.30

34.13

33.96

34.81

36.03

36.29

36.11

-0.230 -0.263 -0.261 -0.208 -0.134 -0.167 -0.167 0.014

0.005

0.005

0.001

0.000

0.001

0.001

2.32%

30.01.2013

27.31

26.67

25.84

24.02

21.98

21.43

21.48

-0.131 -0.109 -0.126 -0.118 -0.099 -0.105 -0.107 0.002

0.001

0.000

0.000

0.000

0.000

0.000

1147.00

2.92%

28.11.2012

10.26

3.90%

11.03.2013

401.40

6.13%

03.04.2013

44.96

2.85%

25.03.2013

34.35

35.38

34.42

33.43

32.03

25.00

1884.00

2.56%

27.03.2013

35.67

36.63

36.95

37.96

38.09

37.54

66.74

2.74%

24.04.2013

17.23

19.34

19.54

21.00

21.83

21.83

Materials

1273.00

1.17%

08.05.2013

36.07

36.07

36.12

36.75

AP MOELLER-MAERSK A/S-B

Industrials

42300.00

2.36%

15.04.2013

26.06

26.38

26.05

26.85

27.21

ARCELORMITTAL

Materials

11.26

5.16%

22.02.2013

41.46

42.36

41.18

40.55

39.82

43.39

ARKEMA

Materials

74.27

2.15%

29.05.2013

35.77

35.77

35.74

35.42

36.05

36.05

DE0005557508

ARM HOLDINGS PLC

Information Technology

581.00

0.78%

01.05.2013

29.80

29.80

29.96

32.15

ARYN SE Equity

CH0043238366

ARYZTA AG

Consumer Staples

45.60

1.34%

27.01.2014

14.41

15.61

17.21

16.74

16.74

16.52

ASHM LN Equity

GB00B132NW22

ASHMORE GROUP PLC

Financials

347.10

4.38%

06.03.2013

AHT LN Equity

GB0000536739

ASHTEAD GROUP PLC

Industrials

334.90

1.19%

16.01.2013

ASML NA Equity

NL0006034001

ASML HOLDING NV

Information Technology

41.76

1.20%

26.04.2013

33.21

30.67

30.45

31.11

31.43

30.67

30.95

ASSAB SS Equity SE0000255648

ASSA ABLOY AB-B

Industrials

216.90

2.49%

02.05.2013

26.63

27.69

27.50

27.49

27.03

G IM Equity

IT0000062072

ASSICURAZIONI GENERALI

Financials

11.52

3.04%

20.05.2013

34.69

35.94

35.94

34.45

33.76

31.77

32.00

ABF LN Equity

GB0006731235

ASSOCIATED BRITISH FOODS PLC

Consumer Staples

1300.00

2.23%

05.12.2012

14.81

14.81

14.79

14.43

AZN LN Equity

GB0009895292

ASTRAZENECA PLC

Health Care

2893.50

6.31%

13.02.2013

12.82

14.99

15.50

16.75

18.43

19.34

19.56

ATL IM Equity

IT0003506190

2.50%

0.83

-0.201 -0.201 -0.196 -0.139

-0.001 -0.001 -0.001 0.000

-0.045 -0.179 -0.149 -0.041 0.496 38.50

0.549

-0.001 0.003

0.005

0.003 -0.001 0.001

0.000

0.003 -0.002 -0.006 0.000

-0.311 -0.258 -0.241 -0.208 -0.122 -0.103 -0.084 0.008

0.005

0.004

0.002

0.000

0.000

-0.151 -0.231 -0.248 -0.219 -0.099 -0.099

0.023

0.008

0.006

0.003

0.000

0.000

-0.170 -0.170 -0.168 -0.139

0.003

0.003

0.003

0.001

0.005

-0.128 -0.105 -0.085 -0.059 -0.019 44.60

0.004

0.000

0.001

0.001

0.000

0.000

0.004

0.003

0.004

0.002

0.001 -0.002 -0.003

-0.180 -0.180 -0.180 -0.169 -0.102 -0.102

0.005

0.005

0.005

0.002

0.002

-0.088 -0.088 -0.084 -0.032

0.003

0.003

0.003

0.001

0.079 -0.040 -0.190 -0.162 -0.119 -0.151

0.023

0.008

0.003

0.002 -0.001 0.001

-0.211 -0.225 -0.256 -0.192 -0.104 -0.115 -0.097 0.008 -0.280 -0.273 -0.254 -0.184 0.078

-0.227 -0.203 -0.204 -0.129 -0.011 0.029

0.014

0.002

0.004

0.005

0.002

0.000

0.001

0.001

0.033

0.012

0.006

0.003

0.000

-0.438 -0.312 -0.301 -0.253 -0.154 -0.105 -0.086 0.016

0.004

0.002

0.002

0.001

0.001

0.001

-0.115 -0.115 -0.111 -0.060

0.003

0.002

0.003

0.003

0.003

0.004

-0.142 -0.312 -0.285 -0.187 -0.125 -0.134 -0.122 0.006

0.013

0.010

0.004

0.002

ATLANTIA SPA

Industrials

12.21

6.40%

19.11.2012

24.89

25.98

24.45

24.49

24.43

-0.303 -0.250 -0.194 -0.158 -0.112

0.019

0.007

0.004

0.002

0.001

ATCOA SS Equity SE0000101032

ATLAS COPCO AB-A SHS

Industrials

156.10

3.36%

22.04.2013

27.56

29.67

29.25

29.75

29.33

-0.114 -0.208 -0.228 -0.132 0.023

0.022

0.006

0.005

0.002

0.005

ATO FP Equity

FR0000051732

ATOS

Information Technology

55.45

1.08%

13.06.2013

26.28

26.28

26.34

27.26

28.61

28.61

-0.201 -0.201 -0.200 -0.177 -0.153 -0.153

0.003

0.003

0.003

0.002

0.001

0.001

NDA GY Equity

DE0006766504

AURUBIS AG

Materials

46.20

2.71%

01.03.2013

23.08

24.35

24.56

24.31

26.75

26.96

26.61

-0.330 -0.119 -0.112 -0.129 -0.054 -0.052 -0.029 0.010

0.002

0.002

0.002

0.001

0.002

0.002

AVV LN Equity

GB00B15CMQ74

AVEVA GROUP PLC

Information Technology

1991.00

1.23%

02.01.2013

AV/ LN Equity

GB0002162385

AVIVA PLC

Financials

323.60

8.03%

20.03.2013

28.22

29.89

30.20

32.90

31.78

32.66

31.88

-0.388 -0.246 -0.288 -0.268 -0.003 -0.195 -0.222 0.010

0.003

0.005

0.003 -0.001 0.002

0.004

CS FP Equity

FR0000120628

AXA SA

Financials

11.83

6.17%

06.05.2013

32.66

32.88

33.71

32.95

35.09

33.59

34.46

-0.390 -0.367 -0.319 -0.293 -0.168 -0.137 -0.133 0.022

0.007

0.005

0.003

0.000

0.000 -0.001

SPR GY Equity

DE0005501357

AXEL SPRINGER AG

Consumer Discretionary

34.40

5.09%

18.04.2013

23.47

23.84

24.02

24.30

25.80

26.39

27.70

0.159 -0.062 -0.047 -0.026 -0.048 -0.078 -0.104 0.003

0.001

0.001

0.001

0.001

0.001

BAB LN Equity

GB0009697037

BABCOCK INTL GROUP PLC

Industrials

920.50

2.64%

12.12.2012

BA/ LN Equity

GB0002634946

BAE SYSTEMS PLC

Industrials

327.70

5.98%

17.04.2013

27.87

25.28

25.05

24.24

24.16

24.16

BBY LN Equity

GB0000961622

BALFOUR BEATTY PLC

Industrials

308.90

4.69%

24.04.2013

BALN VX Equity

CH0012410517

BALOISE HOLDING AG - REG

Financials

74.40

6.05%

03.05.2013

16.51

17.65

18.81

20.22

21.05

21.40

CRG IM Equity

IT0003211601

BANCA CARIGE SPA

Financials

0.76

9.26%

20.05.2013

58.91

58.64

58.25

58.88

64.45

60.75

BMPS IM Equity

IT0001334587

BANCA MONTE DEI PASCHI SIENA

Financials

0.23

20.05.2013

57.32

57.72

57.50

56.82

52.41

58.60

BPE IM Equity

IT0000066123

BANCA POPOL EMILIA ROMAGNA

Financials

4.28

20.05.2013

65.76

65.94

65.94

66.05

68.18

PMI IM Equity

IT0000064482

BANCA POPOLARE DI MILANO

Financials

0.42

20.05.2013

69.89

71.17

73.67

69.27

66.56

BPSO IM Equity

IT0000784196

BANCA POPOLARE DI SONDRIO

Financials

4.68

3.21%

22.04.2013

46.39

46.25

46.20

46.14

48.27

46.72

BBVA SQ Equity

US78378X1072

BANCO BILBAO VIZCAYA ARGENTA

Financials

6.08

5.15%

01.10.2012

39.79

39.85

39.17

38.15

37.15

36.41

35.91

-0.336 -0.333 -0.241 -0.195 -0.046 0.055

SAB SQ Equity

ES0113860A34

BANCO DE SABADELL SA

Financials

2.12

2.36%

18.12.2012

39.24

35.82

34.96

33.92

33.04

31.27

32.81

BES PL Equity

PTBES0AM0007

BANCO ESPIRITO SANTO-REG

Financials

0.57

BP IM Equity

IT0004231566

BANCO POPOLARE SCARL

Financials

1.20

20.05.2013

41.80

43.79

44.59

45.28

46.93

46.93

-0.242 -0.270 -0.244 -0.240 -0.240 -0.240

POP SQ Equity

ES0113790531

BANCO POPULAR ESPANOL

Financials

1.54

SAN SQ Equity

ES0113900J37

BANCO SANTANDER SA

Financials

5.88

BKIA SQ Equity

ES0113307039

BANKIA SA

Financials

1.30

BKT SQ Equity

ES0113679I37

BANKINTER SA

Financials

BCVN SE Equity

CH0015251710

BANQUE CANTONALE VAUDOIS-REG

BARC LN Equity

GB0031348658

BARCLAYS PLC

BDEV LN Equity

GB0000811801

BARN SE Equity

CH0009002962

BAS GY Equity BAYN GY Equity BMW GY Equity

2.34%

-0.011 -0.063 -0.080 -0.085 -0.069 -0.069

0.001

0.002 -0.001 -0.001 0.000 -0.001 -0.001

21.87

-0.252 -0.289 -0.288 -0.245 -0.092 -0.098 -0.101 0.028

0.014

0.009

0.004

0.002

0.002

0.006

0.000

0.001

0.001

0.000

0.000

0.002

60.50

-0.172 -0.126 -0.086 -0.184 -0.519 -0.858 -1.235 0.014

0.007

0.005

0.004

0.004

0.001

68.88

0.014

0.005 -0.007 -0.084 -0.107

0.000

0.000

0.000

0.000

0.001 -0.002

66.56

-0.613 -0.343 -0.258 -0.307 -0.223 -0.223

0.026

0.012

0.003

0.003

0.002

0.002

0.000

0.000

0.000

0.000

0.000

0.002

0.002

0.001

0.001 -0.002 -0.003 -0.005 -0.006

-0.209 -0.052 0.029 -0.064 -0.108 -0.173 -0.121 0.004

0.001

0.002

0.001

0.002

0.003

0.004

0.004

0.002

0.001

0.001

0.003 0.005

-0.008 0.000

0.013

0.004 -0.006 -0.104

0.006 -0.005 -0.082 -0.113 0.153

0.002 0.001

0.001

08.04.2013 2.09%

0.010

27.12.2012

66.85

63.74

61.75

61.08

58.96

57.28

57.78

-0.395 -0.497 -0.441 -0.518 -0.607 -0.601 -0.606 -0.003 0.001

0.000 -0.002 -0.001 -0.002 -0.004

10.17%

17.10.2012

37.41

38.69

38.58

36.40

34.72

31.62

28.16

1.205 -0.355 -0.315 -0.214 -0.103 0.089

0.278

0.113

0.001

0.001

0.001

0.001

0.000 -0.002

3.39

6.08%

12.10.2012

46.26

45.12

45.18

42.75

43.02

41.47

42.52

-0.313 -0.175 -0.190 -0.170 0.026 -0.012 0.105

0.004

0.001 -0.001 0.002

0.000

0.000 -0.001

Financials

492.00

4.47%

07.05.2013

24.13

24.11

24.18

24.09

25.59

25.32

-0.057 -0.002 -0.003 -0.002 0.005 -0.021

Financials

219.95

2.96%

07.11.2012

38.12

38.70

38.96

39.01

39.73

39.80

BARRATT DEVELOPMENTS PLC

Consumer Discretionary

174.50

BARRY CALLEBAUT AG-REG

Consumer Staples

874.50

1.77%

27.02.2013

20.57

20.61

20.53

20.26

20.57

20.87

DE000BASF111

BASF SE

Materials

66.92

3.89%

29.04.2013

22.94

24.25

24.19

24.82

24.54

25.07

DE000BAY0017

BAYER AG-REG

Health Care

68.62

2.62%

29.04.2013

23.36

23.94

23.88

24.35

25.12

25.23

DE0005190003

BAYERISCHE MOTOREN WERKE AG

Consumer Discretionary

56.76

4.58%

15.05.2013

29.61

31.17

31.09

30.94

31.25

30.48

BEI GY Equity

DE0005200000

BEIERSDORF AG

Consumer Staples

57.71

1.39%

29.04.2013

18.63

19.62

19.91

20.04

20.57

22.03

BELG BB Equity

BE0003810273

BELGACOM SA

Telecommunication Services 23.71

9.19%

04.12.2012

14.85

15.38

15.20

16.64

15.81

15.81

BKG LN Equity

GB00B02L3W35

BERKELEY GROUP HOLDINGS

Consumer Discretionary

1447.00

BG/ LN Equity

GB0008762899

BG GROUP PLC

Energy

1278.50

1.33%

10.04.2013

23.71

25.96

26.23

27.59

27.88

27.88

BLT LN Equity

GB0000566504

BHP BILLITON PLC

Materials

1957.00

3.86%

04.03.2013

27.15

27.84

28.54

29.75

30.75

32.82

33.09

GBF GY Equity

DE0005909006

BILFINGER SE

Industrials

69.54

4.03%

19.04.2013

21.85

23.35

23.52

24.55

25.66

26.53

27.31

-0.428 -0.328 -0.301 -0.223 -0.154 -0.148 -0.157 0.018

BIM FP Equity

FR0010096479

BIOMERIEUX

Health Care

72.68

1.50%

03.06.2013

20.64

20.23

19.97

20.02

20.50

20.30

-0.189 0.007

BNP FP Equity

FR0000131104

BNP PARIBAS

Financials

37.91

3.69%

30.05.2013

38.64

38.84

38.35

38.20

38.71

36.78

35.41

BOL SS Equity

SE0000869646

BOLIDEN AB

Materials

109.70

4.33%

06.05.2013

32.18

33.81

33.78

35.37

37.64

BME SQ Equity

ES0115056139

BOLSAS Y MERCADOS ESPANOLES

Financials

16.43

9.74%

21.12.2012

36.98

34.52

33.14

29.96

28.80

27.56

27.50

-0.071 -0.103 -0.204 -0.063 0.049

BOK LN Equity

GB00B01TND91

BOOKER GROUP PLC

Consumer Staples

93.30

2.73%

24.10.2012

GBB FP Equity

FR0004548873

BOURBON SA

Energy

22.48

4.01%

03.06.2013

EN FP Equity

FR0000120503

BOUYGUES SA

Industrials

19.21

8.33%

30.04.2013

29.37

30.94

30.82

30.07

29.39

31.91

32.07

-0.186 -0.205 -0.233 -0.180 -0.076 -0.155 -0.082 0.015

BP/ LN Equity

GB0007980591

BP PLC

Energy

437.70

4.95%

07.11.2012

19.78

21.26

22.22

23.73

25.02

25.45

24.60

-0.278 -0.224 -0.258 -0.174 -0.068 -0.109 -0.105 0.006

BNR GY Equity

DE000A1DAHH0

BRENNTAG AG

Industrials

100.80

2.38%

20.06.2013

19.26

20.73

21.60

22.86

24.06

23.84

24.37

-0.212 -0.213 -0.208 -0.188 -0.128 -0.097 -0.087 0.020

BATS LN Equity

GB0002875804

BRITISH AMERICAN TOBACCO PLC

Consumer Staples

3218.50

4.38%

06.03.2013

16.68

17.16

17.71

18.97

-0.257 -0.256 -0.209 -0.113

BLND LN Equity

GB0001367019

BRITISH LAND CO PLC

Financials

525.00

5.03%

09.01.2013

15.86

15.86

15.86

16.22

-0.123 -0.123 -0.116 -0.024

BSY LN Equity

GB0001411924

BRITISH SKY BROADCASTING GRO

Consumer Discretionary

755.00

3.48%

27.03.2013

17.13

16.68

17.09

19.35

19.78

19.78

BVIC LN Equity

GB00B0N8QD54

BRITVIC PLC

Consumer Staples

368.60

5.05%

05.12.2012

BT/A LN Equity

GB0030913577

BT GROUP PLC

Telecommunication Services 232.40

4.07%

24.12.2012

20.83

23.25

23.29

23.05

23.59

25.16

BGC LN Equity

#N/A N/A

BTG PLC

Health Care

#N/A N/A

BNZL LN Equity

GB00B0744B38

BUNZL PLC

Industrials

1116.00

2.52%

08.05.2013

BRBY LN Equity

GB0031743007

BURBERRY GROUP PLC

Consumer Discretionary

1017.00

2.70%

24.12.2012

27.91

28.25

28.63

29.00

29.36

BVI FP Equity

FR0006174348

BUREAU VERITAS SA

Industrials

79.80

1.82%

11.06.2013

19.97

19.90

19.85

19.86

20.34

BPTY LN Equity

GI000A0MV757

BWIN.PARTY DIGITAL ENTERTAIN

Consumer Discretionary

105.10

3.49%

08.05.2013

GCC ID Equity

IE00B010DT83

C&C GROUP PLC

Consumer Staples

3.73

2.44%

31.10.2012

28.25

27.60

27.21

30.20

30.45

CWC LN Equity

GB00B5KKT968

CABLE & WIRELESS COMMUNICATI

Telecommunication Services 36.05

6.87%

14.11.2012

31.05

31.05

30.97

CNE LN Equity

GB00B74CDH82

CAIRN ENERGY PLC

Energy

33.45

33.45

33.48

CABK SQ Equity

ES0140609019

CAIXABANK

Financials

3.00

7.69%

24.12.2012

25.17

25.06

27.72

26.78

24.80

27.60

CAP FP Equity

FR0000125338

CAP GEMINI

Information Technology

33.11

3.02%

04.06.2013

33.08

35.91

35.52

34.91

35.02

34.00

CPI LN Equity

GB00B23K0M20

CAPITA PLC

Industrials

782.00

3.09%

17.04.2013

CAPC LN Equity

GB00B62G9D36

CAPITAL & COUNTIES PROPERTIE

Financials

217.60

0.71%

15.05.2013

CSCG LN Equity

GB0006834344

CAPITAL SHOPPING CENTRES GRO

CLLN LN Equity

GB0007365546

26.17

0.004

0.000

0.000

0.000

0.000 -0.001

-0.329 -0.348 -0.327 -0.187 -0.087 -0.133 -0.153 0.009

0.007

0.003

0.001

0.001

0.002

-0.047 -0.035 -0.037 -0.006 0.006

0.002

0.000

0.001

0.001

0.001

0.001

25.51

-0.421 -0.286 -0.261 -0.210 -0.102 -0.068 -0.047 0.027

0.010

0.007

0.004

0.002

0.000

0.000

25.79

-0.341 -0.306 -0.293 -0.231 -0.150 -0.133 -0.110 0.025

0.010

0.006

0.003

0.002

0.001

0.001

31.57

-0.218 -0.268 -0.247 -0.212 -0.142 -0.117 -0.084 0.013

0.006

0.004

0.002

0.001

0.001

0.001

22.20

-0.238 -0.164 -0.196 -0.168 -0.107 -0.097 -0.077 0.018

0.005

0.005

0.004

0.002

0.002

0.001

0.019 -0.112 -0.155 -0.160 0.072

38.78

0.003

17.04.2013

277.40

0.000

0.072

0.022

0.011

0.009

0.003 -0.002 -0.002

-0.146 -0.211 -0.219 -0.179 -0.149 -0.149

0.008

0.008

0.005

0.002

0.002

0.002

-0.293 -0.249 -0.250 -0.179 -0.128 -0.108 -0.100 0.005

0.004

0.004

0.002

0.001

0.000

0.000

0.009

0.007

0.004

0.002

0.002

0.002

0.008

0.000

0.000

0.000

0.000

0.000

-0.205 -0.308 -0.315 -0.266 -0.153 -0.154 -0.165 0.007

0.004

0.004

0.002

0.001

0.003

-0.323 -0.277 -0.260 -0.164 -0.068

0.011

0.004

0.000 -0.001

0.037 -0.001 0.001

0.005

0.001 -0.001 -0.001 -0.001

0.005

0.004

0.002

0.001 -0.001 -0.002

0.003

0.002

0.002

0.001

0.001

0.002

0.004

0.004

0.002

0.000

0.000

0.000

0.009

0.009

0.007

0.000

0.005

0.005

0.005

0.005

19.78

-0.110 -0.137 -0.133 -0.111 -0.061 -0.061 -0.061 0.001

0.003

0.005

0.002

0.001

0.001

0.001

24.78

-0.234 -0.250 -0.315 -0.223 -0.094 -0.118 -0.083 0.005

0.004

0.008

0.003

0.000

0.000

0.001

28.89

-0.139 -0.084 -0.134 -0.090 -0.048 -0.040

0.017

0.003

0.001

0.002

0.002

0.004

20.19

-0.219 -0.047 0.008

0.013

0.012

0.002

0.000

0.000

0.000

0.000

29.81

-0.266 -0.244 -0.193 -0.275 -0.223 -0.237

0.019

0.004

0.002

0.001

0.002

0.002

29.74

-0.037 -0.037 -0.042 -0.124

0.007

0.007

0.006

0.000

34.12

-0.257 -0.257 -0.252 -0.183

0.000

0.000

0.000

0.004

25.50

-0.181 -0.180 -0.299 -0.296 -0.231 -0.337 -0.060 0.001

0.005

0.003

0.000

0.004

0.003 -0.002

32.96

-0.171 -0.210 -0.225 -0.195 -0.128 -0.101 -0.105 0.018

0.005

0.004

0.002

0.001

0.002

0.003

-0.054 -0.076 -0.062 -0.046 0.040

0.004

0.000

-0.176 -0.176 -0.171 -0.111

0.003

0.014

0.003

0.008

0.005

0.016

0.004

0.034 0.034

0.004

Financials

333.90

4.58%

29.05.2013

CARILLION PLC

Industrials

272.50

6.46%

15.05.2013

CARLB DC Equity DK0010181759

CARLSBERG AS-B

Consumer Staples

522.50

1.15%

25.03.2013

22.87

24.16

23.64

25.13

0.001

0.000

0.000

CCL LN Equity

GB0031215220

CARNIVAL PLC

Consumer Discretionary

2300.00

3.10%

21.11.2012

19.08

19.08

19.22

21.32

0.008

0.008

0.007

0.003

CA FP Equity

FR0000120172

CARREFOUR SA

Consumer Staples

16.33

4.04%

04.07.2013

36.02

34.07

34.36

33.23

32.67

32.56

32.47

-0.193 -0.231 -0.235 -0.183 -0.100 -0.069 -0.089 0.016

0.006

0.004

0.001

0.001

0.003

CO FP Equity

FR0000125585

CASINO GUICHARD PERRACHON

Consumer Staples

69.17

4.77%

21.05.2013

24.60

23.26

23.23

23.31

23.25

23.59

23.80

-0.388 -0.349 -0.331 -0.205 -0.110 -0.077 -0.049 0.020

0.010

0.006

0.003

0.002

0.000 -0.002

CAST SS Equity

SE0000379190

CASTELLUM AB

Financials

88.85

4.39%

29.03.2013

CGL LN Equity

BMG196F11004

CATLIN GROUP LTD

Financials

482.20

6.01%

13.02.2013

CLS1 GY Equity CNA LN Equity

DE000CLS1001 GB00B033F229

CELESIO AG CENTRICA PLC

Health Care Utilities

13.94 328.80

2.65% 5.14%

17.05.2013 24.04.2013

23.30 18.49

26.54 18.49

26.40 18.52

27.33 18.83

29.09 19.30

29.77 19.30

30.59

-0.238 -0.248 -0.264 -0.173 -0.130 -0.097 -0.078 0.028 -0.030 -0.030 -0.034 -0.088 -0.079 -0.079 0.002

0.006 0.002

0.006 0.002

0.003 0.002

0.001 0.001

0.001 0.001

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

0.000


01.10.2012

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

At The Money Implied Volatilities by Terms

Stoxx 600 Index

Ticker

ISIN

CHG LN Equity GB00B45C9X44 CHR DC Equity DK0060227585 CDI FP Equity FR0000130403 SGO FP Equity FR0000125007 CFR VX Equity CH0045039655 GA FP Equity FR0000120164 ML FP Equity FR0000121261 CLN VX Equity CH0012142631 CBG LN Equity GB0007668071 CNP FP Equity FR0000120222 COB LN Equity GB00B07KD360 EEEK GA Equity GRS104003009 COFB BB Equity BE0003593044 COLOB DC Equity DK0010309657 COLR BB Equity BE0974256852 CBK GY Equity DE0008032004 CPG LN Equity GB0005331532 CON GY Equity DE0005439004 CKSN LN Equity GB00B3WK5475 CORA NA Equity NL0000288967 ACA FP Equity FR0000045072 CSGN VX Equity CH0012138530 CRH ID Equity IE0001827041 CRDA LN Equity GB0002335270 CSM NA Equity NL0000852549 DMGT LN Equity GB0009457366 DAI GY Equity DE0007100000 BN FP Equity FR0000120644 DANSKE DC EquityDK0010274414 DSY FP Equity FR0000130650 CPR IM Equity IT0003849244 DCC ID Equity IE0002424939 DEB LN Equity GB00B126KH97 DELB BB Equity BE0003562700 DL NA Equity NL0009294552 DLN LN Equity GB0002652740 DBK GY Equity DE0005140008 DB1 GY Equity DE0005810055 DEQ GY Equity DE0007480204 LHA GY Equity DE0008232125 DPW GY Equity DE0005552004 DTE GY Equity DE0005557508 DGE LN Equity GB0002374006 DIA SQ Equity ES0126775032 DNB NO Equity NO0010031479 DRX LN Equity GB00B1VNSX38 SMDS LN Equity GB0008220112 DSV DC Equity DK0060079531 DUFN SE Equity CH0023405456 EOAN GY Equity DE000ENAG999 EAD FP Equity NL0000235190 EZJ LN Equity GB00B7KR2P84 EBRO SQ Equity ES0112501012 EDEN FP Equity FR0010908533 EDP PL Equity PTEDP0AM0009 FGR FP Equity FR0000130452 ELN ID Equity IE0003072950 EDF FP Equity FR0010242511 ECM LN Equity GB0003096442 ELUXB SS Equity SE0000103814 EKTAB SS Equity SE0000163628 ELI1V FH Equity FI0009007884 ENG SQ Equity ES0130960018 ELE SQ Equity ES0130670112 EGPW IM Equity IT0004618465 ENEL IM Equity IT0003128367 ENI IM Equity IT0003132476 ERA FP Equity FR0000131757 EBS AV Equity AT0000652011 EI FP Equity FR0000121667 MAU FP Equity FR0000051070 ENRC LN Equity GB00B29BCK10 RF FP Equity FR0000121121 ECMPA NA Equity NL0000288876 ETL FP Equity FR0010221234 EVR LN Equity GB00B71N6K86 EXO IM Equity IT0001353140 EXPN LN Equity GB00B19NLV48 EO FP Equity FR0000121147 FER SQ Equity ES0118900010 FI IM Equity IT0004644743 F IM Equity IT0001976403 FNC IM Equity IT0003856405 FGP LN Equity GB0003452173 FLS DC Equity DK0010234467 FDR FP Equity FR0000064578 FUM1V FH Equity FI0009007132 FTE FP Equity FR0000133308 FRA GY Equity DE0005773303 FME GY Equity DE0005785802 FRE GY Equity DE0005785604 FRES LN Equity GB00B2QPKJ12 FPE3 GY Equity DE0005790430 FUR NA Equity NL0000352565 GFS LN Equity GB00B01FLG62 GALN SE Equity CH0015536466 GALP PL Equity PTGAL0AM0009 GAM SE Equity CH0102659627 GAS SQ Equity ES0116870314 GSZ FP Equity FR0010208488 G1A GY Equity DE0006602006 GEBN VX Equity CH0030170408 GFC FP Equity FR0010040865 GTO FP Equity NL0000400653 FI/N SE Equity CH0001752309 GXI GY Equity DE000A0LD6E6 GETIB SS Equity SE0000202624 GIVN VX Equity CH0010645932 GJF NO Equity NO0010582521 GKN LN Equity GB0030646508 GSK LN Equity GB0009252882 GLEN LN Equity JE00B4T3BW64 GN DC Equity DK0010272632 BKIR ID Equity IE0030606259 GPOR LN Equity GB00B01FLL16 GNK LN Equity GB00B0HZP136 GRF SQ Equity ES0171996012 GBLB BB Equity BE0003797140 GET FP Equity FR0010533075 HLMA LN Equity GB0004052071 HMSO LN Equity GB0004065016 HNR1 GY Equity DE0008402215 HL/ LN Equity GB00B1VZ0M25 HAS LN Equity GB0004161021 HEI GY Equity DE0006047004 HEIO NA Equity NL0000008977

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

GICS_SECTOR_NAME

ATM Ref

Industrials 325.10 Materials 177.50 Consumer Discretionary 106.55 Industrials 27.96 Consumer Discretionary 57.35 Energy 24.55 Consumer Discretionary 62.94 Materials 11.34 Financials 850.50 Financials 10.18 Industrials 222.80 Consumer Staples 14.83 Financials 86.43 Health Care 1213.00 Consumer Staples 33.17 Financials 1.42 Consumer Discretionary 690.50 Consumer Discretionary 76.80 Industrials 599.50 Financials 33.09 Financials 5.64 Financials 20.42 Materials 14.78 Materials 2486.00 Consumer Staples 14.04 Consumer Discretionary 481.25 Consumer Discretionary 37.45 Consumer Staples 48.89 Financials 105.40 Information Technology 83.14 Consumer Staples 6.21 Industrials 22.78 Consumer Discretionary 102.80 Consumer Staples 30.59 Financials 12.17 Financials 1965.00 Financials 31.34 Financials 43.59 Financials 29.43 Industrials 10.71 Industrials 15.42 Telecommunication Services 9.61 Consumer Staples 1768.50 Consumer Staples 4.35 Financials 70.15 Utilities 510.00 Materials 190.90 Industrials 130.50 Consumer Discretionary 114.30 Utilities 18.51 Industrials 24.87 Industrials 589.50 Consumer Staples 13.95 Industrials 21.99 Utilities 2.14 Industrials 25.95 Health Care 8.47 Utilities 16.43 Information Technology 199.40 Consumer Discretionary 165.40 Health Care 89.25 Telecommunication Services 17.40 Utilities 15.90 Utilities 15.39 Utilities 1.34 Utilities 2.81 Energy 17.32 Materials 92.35 Financials 17.50 Health Care 73.20 Energy 11.55 Materials 314.80 Financials 36.36 Financials 29.66 Consumer Discretionary 24.82 Materials 250.30 Financials 19.70 Industrials 1052.00 Consumer Discretionary 12.99 Industrials 10.38 Industrials 7.86 Consumer Discretionary 4.18 Industrials 3.85 Industrials 239.70 Industrials 341.40 Financials 58.56 Utilities 14.51 Telecommunication Services 9.33 Industrials 45.15 Health Care 58.00 Health Care 92.12 Materials 1874.00 Materials 49.98 Energy 53.45 Industrials 267.40 Health Care 560.50 Energy 12.73 Financials 12.35 Utilities 11.47 Utilities 17.67 Industrials 24.15 Industrials 206.20 Financials 80.03 Information Technology 69.41 Industrials 338.00 Health Care 41.21 Health Care 200.90 Materials 900.00 Financials 78.85 Consumer Discretionary 214.90 Health Care 1441.50 Materials 342.20 Health Care 89.90 Financials 0.10 Financials 452.00 Consumer Discretionary 600.00 Health Care 26.98 Financials 58.06 Industrials 5.46 Information Technology 429.60 Financials 455.10 Financials 50.86 Financials 631.00 Industrials 78.10 Materials 41.70 Consumer Staples 38.25

Dividend Yield

Next ExDividend Date

5.60% 2.04% 2.68% 4.65% 1.08%

20.03.2013 27.11.2012 22.04.2013 10.06.2013 09.09.2013

3.65% 2.65% 4.97% 7.56% 3.95% 1.62% 7.52% 1.44% 2.95%

14.05.2013 28.06.2013 20.03.2013 10.05.2013 01.05.2013 25.06.2013 29.04.2013 12.12.2012 30.09.2013 24.05.2013 23.01.2013 16.05.2013 01.05.2013 29.04.2013 27.05.2013 09.05.2013 06.03.2013 01.05.2013 03.05.2013 28.11.2012 11.04.2013 07.05.2013 19.03.2013 14.06.2013 20.05.2013 14.11.2012 05.12.2012 29.05.2013 27.05.2013 15.05.2013 03.06.2013 16.05.2013 21.06.2013 10.05.2013 10.05.2013 24.05.2013 27.02.2013 16.07.2013 26.04.2013 24.04.2013 19.12.2012 18.03.2013 16.05.2013 03.05.2013 04.06.2013 28.02.2013 11.01.2013 27.05.2013 13.05.2013 26.04.2013

3.17% 2.60% 4.05% 8.52% 0.89% 3.67% 4.25% 2.50% 5.70% 3.82% 5.87% 3.07% 1.42% 0.94% 1.21% 3.76% 3.06% 5.62% 8.87% 1.70% 2.39% 5.51% 3.74% 2.34% 4.67% 7.29% 2.72% 2.76% 2.85% 3.90% 3.33% 0.96% 5.94% 2.41% 1.90% 3.44% 3.46% 8.63% 4.62% 7.30% 6.14% 3.93% 1.57% 7.47% 6.75% 6.69% 2.12% 5.16% 6.29% 1.57% 2.29% 1.34% 3.46% 2.36% 3.30% 6.47% 4.03% 7.42% 1.78% 2.06% 2.31% 4.43% 2.80% 2.87% 10.57% 2.93% 7.34% 6.89% 12.32% 2.77% 1.29% 1.16% 1.85% 2.14% 2.99% 3.42% 1.61% 2.07% 4.21% 7.85% 3.79% 2.53% 3.06% 5.50% 0.49% 4.14% 1.70% 1.99% 2.78% 7.36% 3.54% 5.34% 2.88% 0.51% 1.90% 4.38% 0.82% 4.70% 1.65% 2.43% 3.86% 4.33% 4.02% 3.20% 1.32% 2.43%

13.12.2012 05.12.2012 03.04.2013 05.09.2013 05.04.2013 21.12.2012 03.01.2013 20.05.2013 24.06.2013 20.05.2013 20.05.2013 17.05.2013 24.05.2013 17.06.2013 27.03.2013 16.05.2013 31.10.2013 15.11.2012 05.06.2013 24.06.2013 24.12.2012 31.05.2013 15.11.2012 22.04.2013 22.04.2013 20.05.2013 02.01.2013 02.04.2013 13.05.2013 01.04.2013 10.06.2013 03.06.2013 13.05.2013 14.05.2013 24.04.2013 09.05.2013 13.05.2013 08.05.2013 09.05.2013 21.05.2013 19.04.2013 09.01.2013 01.05.2013 25.04.2013 22.04.2013 19.04.2013 24.05.2013 24.06.2013 26.04.2013 29.04.2013 26.03.2013 19.04.2013 24.04.2013 14.11.2012 15.05.2013 25.03.2013 14.11.2012 21.11.2012 19.12.2012 01.07.2013 26.04.2013 21.05.2013 02.01.2013 13.03.2013 06.05.2013 13.03.2013 27.02.2013 03.05.2013 23.04.2013

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

25.05 35.33 28.42 42.56 28.82 31.79

25.05 36.68 29.59 39.88 30.24 33.66

25.11 36.62 29.40 38.48 30.53 32.77

25.94 36.11 29.66 38.96 31.04 34.04

28.00 36.56 29.79 40.72 31.82 33.94

28.00 37.00 30.25 40.90 30.38 35.42

31.11

31.11

31.02

29.84

32.57

32.57

-0.288 -0.288 -0.283 -0.218 -0.181 -0.181

0.004

24.78

24.72

24.78

24.99

26.86

25.77

0.041

0.005

0.009

0.006

0.005 -0.020

-0.003 0.000

22.26 48.45 17.07 27.66

21.69 50.51 17.07 29.97

22.21 49.89 17.04 30.38

21.87 48.63 17.20 31.76

23.04 48.44 18.24 33.28

23.04 47.03 18.24 33.47

0.045 -0.158 -0.255 -0.210

-0.139 0.018 -0.255 -0.264

-0.165 -0.029 -0.250 -0.309

-0.105 -0.048 -0.180 -0.237

-0.094 -0.084 -0.102 -0.134

-0.094 0.009 -0.072 -0.046 0.024 -0.102 0.010 -0.116 -0.096 0.012

0.003 0.003 0.010 0.006

0.003 0.006 0.010 0.008

0.002 0.000 0.004 0.003

0.000 0.000 0.000 -0.001 -0.001 0.000 0.000 0.001 0.001 0.001

19.47 51.47 33.40 35.63

20.96 50.12 33.72 32.29

21.74 49.02 33.48 30.62

22.61 47.01 32.95 26.58

23.06 42.56 34.11 31.41

23.06 40.77 32.54 32.14

23.06 40.66 33.10

-0.078 -0.341 -0.255 -0.225

-0.171 -0.303 -0.219 -0.215

-0.213 -0.261 -0.214 -0.253

-0.175 -0.239 -0.191 -0.056

-0.008 -0.161 -0.096 -0.194

-0.008 -0.008 0.025 -0.156 -0.102 0.007 0.002 0.109 0.019 -0.190 0.006

0.008 0.003 0.009 0.002

0.004 0.002 0.005 0.003

0.001 0.001 0.003 0.004

0.001 0.001 0.001 0.001 0.001 0.000 0.000 -0.002 -0.007 0.001 0.001

22.27

24.86

25.08

26.42

29.13

29.13

29.13

-0.175 -0.093 -0.113 -0.041 0.033

0.033

0.007

0.005

28.68 20.22 29.92 20.75 20.79 18.83

30.02 19.49 27.45 20.75 20.73 18.24

30.15 19.87 28.45 20.83 20.80 19.88

30.22 20.59 30.92 21.85 20.61 19.50

31.60 21.31 31.23 22.27 20.70 19.10

30.51 21.59

31.38 21.63

22.27 20.74 18.98

-0.308 -0.161 -0.195 -0.243 -0.175 -0.112

-0.078 -0.042 0.017 -0.198 -0.184 0.019 0.038 -0.155 0.004 0.006 0.011 0.045 0.030

23.81 24.55

26.17 26.07

26.08 26.42

26.85 27.71

25.92 28.76

25.92 28.76

-0.198 -0.186 -0.232 -0.165 -0.096 -0.096 -0.299 -0.246 -0.313 -0.225 -0.124 -0.124

39.92 23.98 20.75 24.86 18.59 20.91 17.14 36.63 32.49

40.24 24.93 22.93 25.58 20.65 22.55 16.59 35.13 34.60

39.48 25.75 22.75 25.32 20.74 22.69 16.84 34.21 31.16

38.97 24.99 22.04 25.32 22.13 22.32 18.46 31.78 28.74

37.01 25.85 22.98 26.80 22.75 22.40 19.58 29.38 28.34

36.92 24.38 20.92 26.17 22.07 21.99 20.37 28.85

37.72 24.59 21.18 26.41 22.58 23.40 20.13 28.98

27.27 39.57 21.39 26.96

26.28 39.84 21.81 27.75

24.82 40.07 22.18 27.49

27.49 40.09 22.35 27.73

27.58 40.79 22.89 28.67

39.82 22.08 27.40

22.47 27.28

34.87 30.20

32.54 26.58

31.11 25.28

27.48 24.95

24.06 25.71

20.80 25.08

50.16 44.42 22.70

50.37 44.78 23.70

50.51 45.22 23.76

50.43 43.49 24.56

52.91 44.27 24.95

52.00 44.30 27.96

26.76

28.43

27.66

28.72

30.59

17.05 22.35 34.02 34.44 30.00 24.01 50.07 36.58 20.33 49.93 49.58 45.96

16.98 23.30 32.82 34.87 30.50 24.66 50.00 38.09 20.78 49.98 49.58 46.06

17.38 23.73 32.14 35.14 30.63 25.31 50.00 39.15 20.66 50.05 49.38 46.16

18.48 24.53 31.64 34.27 30.00 24.73 50.05 37.15 20.83 50.18 47.42 46.28

20.12 24.59 31.00 34.34 29.92 25.14 50.25 38.09 21.60 51.86

24.76 30.86 34.34 30.74 23.27 52.29 36.10 19.79 50.53

47.75

46.86

-0.358 -0.074 -0.043 -0.462 -0.482 -0.477 0.007 -0.227 -0.212 0.015 -0.178 0.029

38.77

40.40

40.48

40.39

40.31

42.18

25.50 17.57 48.90 34.82 33.26 42.38 40.85

26.98 17.57 48.90 35.39 35.06 44.64 43.59

28.47 17.73 48.88 31.77 35.29 44.49 43.42

28.68 18.10 48.53 31.29 35.14 44.22 43.49

27.79 48.51 29.03 33.93 42.68 43.27

35.86 36.38 25.20 27.18 23.73 15.77 17.26

36.94 36.06 24.26 28.50 24.65 17.14 18.90

36.09 35.78 23.31 27.60 24.39 17.22 19.08

36.05 36.01 23.40 26.45 24.64 18.81 19.53

35.14 38.64 24.29 19.84 25.57 19.87 20.80

25.28 24.10

25.98 24.33

26.62 24.51

26.36 25.51

41.63

37.13

36.03

24.22 40.54 22.50 29.66 16.02 32.04 29.95 20.09 20.82 19.40 17.52 22.36

24.95 37.79 23.67 31.14 17.26 32.07 29.95 22.22 19.23 19.13 16.32 22.36

25.50 36.03 23.86 31.76 17.37 32.08 29.88 24.69 19.73 19.73 16.45 22.39

13.08 36.19 28.32 56.01

14.16 34.77 30.33 55.82

38.23 15.70 36.81

48.51 30.54 33.93 46.88 43.27

37.64

30.32 35.89

47.50 33.38

20.57

26.91

24.66 31.50 31.79 22.68

19.00

28.84 43.22

-0.291 -0.355 -0.275 -0.170 -0.360 -0.265

-0.291 -0.276 -0.193 -0.196 -0.322 -0.313

-0.286 -0.247 -0.229 -0.229 -0.295 -0.305

-0.214 -0.192 -0.193 -0.171 -0.224 -0.236

-0.155 -0.095 -0.121 -0.141 -0.138 -0.151

-0.155 0.004 -0.092 -0.010 0.015 -0.126 0.013 -0.139 0.012 -0.102 -0.077 0.015 -0.174 -0.169 0.018

0.003 0.002 0.002 0.002 0.003 0.001

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

0.004

0.004

0.003

0.002

0.002

0.000 -0.001 -0.001 0.001

0.002

0.000

0.000

0.000

0.001 0.002 0.000 0.002 0.000 0.001

0.001 0.000

0.002 0.000

0.020 0.032

0.004 0.011

0.004 0.002

0.005 0.001

0.005 0.001

0.014 0.020 0.024 0.033 0.041 0.037 0.010 0.002 0.066

0.006 0.005 0.002 0.007 0.006 0.002 0.003 0.004 0.002 0.010 0.006 0.004 0.014 0.007 0.004 0.013 0.006 0.003 0.012 0.009 0.004 0.000 -0.001 0.001 0.026 0.013 0.004

0.001 0.001 0.003 0.002 0.002 0.000 0.003 0.000 0.002

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

0.004 0.000 0.013 0.005

0.003 0.000 0.008 0.003

0.000 0.000 0.004 0.002

0.001 0.000 0.002 0.001

0.001 0.002 0.004

0.001 0.002

0.001 0.004

0.001 0.003

0.001 0.001

0.000 0.001

-0.007 -0.003 -0.006 0.011 0.012 -0.022 0.001 0.001 0.137 -0.146 -0.153 -0.132 -0.144 -0.144 -0.010 0.001 -0.273 -0.310 -0.235 -0.178 -0.114 -0.110 -0.090 0.030 0.010

0.000 0.001 0.006

0.000 0.002 0.003

0.000 0.001 0.003

0.000 0.002 0.002

-0.301 -0.286 -0.273 -0.181 0.029

0.000

-0.219 -0.274 -0.100 -0.239 0.015 -0.037

-0.187 -0.204 -0.069 -0.178 0.006 -0.080

-0.110 -0.134 -0.003 -0.155 0.002 -0.063

-0.110 -0.095 -0.102 -0.115 -0.113 -0.011 -0.130 -0.099

-0.051 -0.078 -0.089 -0.088 -0.094 0.033 -0.115 -0.093

0.031

0.004 0.004 0.003 0.005 0.005 0.006

0.007 0.004 0.003 0.007 0.007 0.003 0.010 0.002 -0.001 0.004 0.004 0.003 0.001 -0.001 0.000 0.009 0.003 0.002

-0.230 -0.233 -0.129 -0.243 -0.020 -0.021

0.033

0.004 0.005 0.002 0.006 0.007 0.004

-0.366 -0.268 -0.265 -0.259 -0.363 -0.213 -0.337 -0.134 -0.330

-0.372 -0.315 -0.244 -0.270 -0.293 -0.219 -0.369 -0.149 -0.227

-0.345 -0.293 -0.229 -0.238 -0.290 -0.180 -0.323 -0.114 -0.186

-0.279 -0.212 -0.167 -0.242 -0.251 -0.114 -0.223 -0.157 -0.199

-0.170 -0.130 -0.152 -0.160 -0.138 -0.038 -0.155 -0.118 -0.154

-0.059 -0.008 -0.265 -0.033

-0.150 -0.004 -0.286 -0.136

-0.147 -0.002 -0.323 -0.143

-0.114 -0.015 -0.242 -0.142

-0.036 0.016 -0.051 -0.047 0.000 -0.119 -0.072 -0.040 0.033 -0.081 -0.083 -0.112 0.011

-0.097 -0.105 -0.116 -0.088 -0.011 0.107 0.122 -0.249 -0.200 -0.231 -0.219 -0.131 -0.138

0.001 0.004

0.006 0.007

0.002 0.000 0.001

0.002 0.003 0.000

0.002

0.033

0.011

0.008

0.003

0.022 0.002 0.001 0.036 -0.164 0.014 -0.120 0.019 0.000 0.054 -0.100 0.021 0.002 0.000 0.004 -0.021 -0.002

0.008 0.002 0.000 0.004 0.006 0.006 0.000 0.013 0.008 -0.001 0.000 0.000

0.007 0.001 0.000 0.000 0.004 0.003 0.000 0.003 0.008 -0.001 0.000 0.000

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

-0.039 -0.005 -0.001 0.010

0.014 -0.034

0.004

0.000

0.000

0.000

0.000

-0.233 -0.187 -0.106 -0.152 -0.243 -0.199 -0.116

-0.198 -0.187 -0.106 -0.140 -0.229 -0.169 -0.165

-0.135 -0.187 -0.106 0.038 -0.212 -0.192 -0.245

-0.129 -0.152 -0.104 -0.011 -0.190 -0.188 -0.137

-0.148

0.015 0.001 0.000 0.005 0.005 0.005 0.001 0.001 0.001 0.002 -0.001 -0.002 0.013 0.003 0.003 0.018 0.003 0.003 0.008 0.003 0.007

0.001 0.004 0.001 -0.001 0.002 0.001 0.001

0.001 0.001 -0.001 0.000 -0.002 0.000

-0.223 0.001 -0.194 -0.258 -0.279 -0.155 -0.282

-0.158 0.009 -0.252 -0.331 -0.284 -0.168 -0.269

-0.078 0.001 -0.197 -0.213 -0.207 -0.177 -0.196

-0.017 0.010 -0.080 0.060 -0.125 -0.126 -0.136

0.009 -0.002 0.024 0.012 0.019 0.028 0.012

0.003 0.000 0.004 0.007 0.006 0.010 0.006

0.000 0.000 0.003 0.005 0.006 0.009 0.006

0.000 0.000 0.001 0.003 0.003 0.004 0.004

0.000 0.000 0.001 0.000 0.005 -0.012 -0.015 0.001 0.002 0.002 0.002 0.001 0.001 0.003 0.002 0.002

-0.162 -0.121 -0.010 -0.248 -0.415 -0.396 0.005 -0.237 -0.261 0.020 -0.178 -0.001

-0.086 -0.120 -0.026 -0.150 -0.399 -0.337 0.004 -0.165 -0.272 0.014 -0.163 -0.005

-0.119 0.028 -0.003 -0.141 -0.261 -0.240 -0.011 -0.160 -0.210 -0.002 0.005 0.005

-0.068 0.145 0.017 -0.116 -0.135 -0.148 -0.147 0.411 -0.130 -0.022

-0.117 0.003 0.005 -0.009 -0.095

0.125 0.080 -0.116 -0.185 -0.143 -0.178 0.551 -0.119 -0.006

0.111 0.101

-0.117 0.058 0.078 0.005 0.007 0.010 -0.095

0.000

0.001 -0.002 -0.001 0.000 0.001 0.001 0.000

30.79 25.84 20.60 21.74

30.57 26.30 21.32 21.98

-0.304 0.041 -0.189 0.071 -0.507 -0.168 -0.357

25.70 26.13

25.51 26.13

25.97 26.13

-0.271 -0.166 -0.171 -0.144 -0.122 -0.162 -0.171 0.010 -0.247 -0.277 -0.296 -0.233 -0.136 -0.136 -0.136 0.017

0.003 0.007

0.002 0.006

0.002 0.003

0.001 0.001

0.003 0.001

35.32

34.85

34.13

-1.335 -0.907 -0.704 -0.594 -0.477 -0.476

0.014

0.003

0.006

0.005

0.004

0.004

26.61 30.73 24.73 33.11 18.26 32.29 29.81 26.97 21.94 21.69 17.87 22.74

28.30 27.43 24.77 34.04 18.62 34.35 29.99 27.01 24.17 22.82 18.12

27.71 26.29 26.53 33.86 19.20 32.88 30.15 27.22 24.06

-0.377 -0.136 -0.253 -0.366 -0.278 -0.053 -0.080 -0.058 -0.338 -0.341 -0.279 -0.139

-0.248 -0.099 -0.220 -0.166 -0.245 0.009 -0.003 -0.109 -0.192 -0.295 -0.240 -0.139

-0.192 -0.099 -0.238 -0.166 -0.321 0.013 -0.001 -0.221 -0.193 -0.272 -0.285 -0.139

-0.183 0.017 -0.205 -0.143 -0.255 -0.001 0.004 -0.135 -0.165 -0.192 -0.233 -0.137

-0.096 0.075 -0.118 -0.106 -0.168 -0.033 0.004 -0.101 -0.113 -0.024 -0.115

0.034 0.172 0.004 -0.106 0.027 -0.161 0.020 0.026 0.002 0.005 0.008 -0.078 0.012 0.037 -0.096 0.012 0.003

0.009 0.001 0.006 0.007 0.009 0.000 0.000 0.000 0.004 0.018 0.005 0.003

0.007 0.003 0.002 0.003 0.001 0.002 0.002 0.002 0.003 0.007 0.003 0.003 -0.001 -0.002 0.005 0.002 0.001 0.001 0.002 0.010 0.005 0.004 0.003 0.000 0.000 0.000 0.002 0.000 0.000 0.000 0.000 0.003 -0.001 0.000 0.000 0.004 0.003 0.002 0.002 0.003 0.010 0.004 0.002 0.009 0.004 0.003 0.002 0.003 0.004

14.77 33.61 31.54 55.94

16.03 33.05 30.94 57.95

17.89 34.52 31.22 56.00

18.94 33.45

-0.228 -0.333 -0.302 -0.190

-0.284 -0.221 -0.215 0.092

-0.279 -0.167 -0.195 0.117

-0.158 -0.160 -0.145 0.147

-0.126 -0.122 -0.105 0.010 0.009 0.008 0.004 -0.238 -0.142 -0.207 0.013 -0.001 -0.006 -0.004 -0.033 0.037 0.009 0.002 0.000 -0.001 0.046 0.026 0.005 0.000 -0.004

35.08 15.92 35.09

33.00 16.10 33.89

28.83 16.53 32.74

24.82 15.86 36.63

23.12 15.86 36.89

23.38

-0.102 -0.085 -0.096 -0.105 -0.113 -0.123 -0.104 0.003 -0.266 -0.296 -0.361 -0.259 -0.134 -0.134 0.028 -0.090 -0.209 -0.254 -0.212 -0.038 -0.029 0.010

0.002 0.013 0.001

0.001 0.012 0.001

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

19.10

20.58

20.86

21.77

22.71

21.36

21.50

-0.076 -0.211 -0.262 -0.244 -0.126 -0.109 -0.084 0.019

0.009

0.010

0.004

0.001

0.002

0.002

33.52

34.15

34.22

33.15

34.42

34.56

34.73

-0.521 -0.381 -0.407 -0.309 -0.212 -0.179 -0.160 0.013

0.005

0.006

0.004

0.002

0.001

0.002

37.29

24.93 26.42 34.29

24.08

18.24

18.36 33.67

56.04

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

-0.047 0.166 -0.139 -0.110 -0.127

0.320 -0.143 -0.093 -0.123

-0.105 0.108 -0.142 -0.148 -0.131 -0.078 0.007 -0.099 -0.091

0.001 0.003 0.000 0.000

0.002 0.001

0.003 0.001

0.002 0.002

0.000


01.10.2012

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

At The Money Implied Volatilities by Terms ATM2 Ref

Dividend Yield

Next ExDividend Date

HEIA NA Equity

NL0000009165

HEINEKEN NV

Consumer Staples

46.90

1.98%

23.04.2013

19.18

20.53

20.00

20.05

20.11

20.52

HELN SE Equity

CH0012271687

HELVETIA HOLDING AG-REG

Financials

331.25

5.13%

09.05.2013

25.42

24.24

24.28

24.23

24.74

23.93

HGG LN Equity

JE00B3CM9527

HENDERSON GROUP PLC

Financials

110.00

6.59%

01.05.2013

HEN3 GY Equity

DE0006048432

HENKEL AG & CO KGAA VORZUG

Consumer Staples

63.05

1.44%

16.04.2013

20.41

20.87

21.02

21.77

22.44

22.46

HMB SS Equity

SE0000106270

HENNES & MAURITZ AB-B SHS

Consumer Discretionary

226.30

4.33%

03.05.2013

18.22

19.18

20.12

21.43

23.56

RMS FP Equity

FR0000052292

HERMES INTERNATIONAL

Consumer Discretionary

211.70

1.11%

27.02.2013

HEXAB SS Equity SE0000103699

HEXAGON AB-B SHS

Information Technology

142.60

1.43%

10.05.2013

32.62

36.31

36.51

39.80

34.29

HIK LN Equity

GB00B0LCW083

HIKMA PHARMACEUTICALS PLC

Health Care

724.00

1.28%

17.04.2013

HOT GY Equity

DE0006070006

HOCHTIEF AG

Industrials

36.53

3.56%

13.05.2013

38.34

39.09

38.91

38.97

40.15

38.97

40.27

HOLN VX Equity

CH0012214059

26.09

26.25

Stoxx 600 Index

Ticker

ISIN

Name

GICS_SECTOR_NAME

ATM2 ATM2 ATM2 ATM2 ATM2 ATM2 ATM2 Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M 20.66

22.43

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M -0.410 -0.295 -0.269 -0.194 -0.101 -0.099 -0.067 0.018

0.009

0.008

0.004

0.000

0.002

-0.158 -0.078 -0.085 -0.083 -0.057 -0.066

0.003

0.001

0.001

0.001

0.001

0.001

0.002

-0.321 -0.301 -0.306 -0.236 -0.161 -0.121 -0.097 0.028

0.010

0.008

0.004

0.002

0.002

0.002

-0.221 -0.172 -0.221 -0.174 0.043

0.028

0.015

0.005

0.003 -0.001

-0.053 -0.235 -0.266 -0.189 0.000

0.028

0.009

0.005

0.002

0.000

-0.295 -0.242 -0.226 -0.186 -0.175 -0.169 -0.172 0.000

0.002

0.003

0.002

0.001

0.001

0.001

-0.395 -0.317 -0.333 -0.242 -0.129 -0.137 -0.141 0.024

0.006

0.006

0.003

0.001

0.001

0.002

-0.211 -0.150 -0.119 -0.086 -0.055

0.036

0.013

0.006

0.001

0.001

-0.305 -0.383 -0.327 -0.244 -0.128 -0.115 -0.080 0.017

0.010

0.006

0.005

0.002

0.004

0.004

-0.252 -0.608 -0.522 -0.085 0.069

0.047

0.036

0.026

0.002 -0.001

0.004

0.000

0.002

0.001

0.002

0.000

0.001

0.003

0.000

0.000

0.000

0.000

0.002

0.000

0.000

0.001

0.002

HOLCIM LTD-REG

Materials

60.65

2.06%

09.05.2013

23.18

24.08

24.17

24.63

26.29

HOLMB SS Equity SE0000109290

HOLMEN AB-B SHARES

Materials

179.10

3.91%

28.03.2013

21.88

22.40

22.71

23.63

23.85

HOME LN Equity

GB00B19NKB76

HOME RETAIL GROUP

Consumer Discretionary

90.40

3.32%

07.11.2012

HSV LN Equity

GB00B587FC42

HOMESERVE PLC

Industrials

214.90

5.35%

28.11.2012

HSBA LN Equity

GB0005405286

HSBC HOLDINGS PLC

Financials

585.50

4.76%

24.10.2012

18.86

19.91

20.62

22.41

23.15

HTG LN Equity

GB0004478896

HUNTING PLC

Energy

845.50

2.09%

05.06.2013

HUSQB SS Equity SE0001662230

HUSQVARNA AB-B SHS

Consumer Discretionary

33.99

4.41%

06.05.2013

31.89

31.36

30.19

31.66

34.38

IBE SQ Equity

ES0144580Y14

IBERDROLA SA

Utilities

3.57

9.42%

02.01.2013

36.83

37.64

37.04

34.82

31.09

30.93

ICAD FP Equity

FR0000035081

ICADE

Financials

63.92

5.63%

18.04.2013

31.81

31.83

31.87

31.82

33.51

32.56

IAP LN Equity

GB0033872168

ICAP PLC

Financials

328.70

6.51%

02.01.2013

25.08

25.08

25.17

26.97

IGG LN Equity

GB00B06QFB75

IG GROUP HOLDINGS PLC

Financials

449.30

5.34%

23.01.2013

ILD FP Equity

FR0004035913

ILIAD SA

Telecommunication Services 127.80

0.29%

04.06.2013

18.03

17.96

17.96

17.99

18.05

17.85

-0.086 -0.071 0.003

0.015

0.016

0.003

0.000

0.000

0.000

0.000

IMG LN Equity

GB0009303123

IMAGINATION TECH GROUP PLC

Information Technology

482.20

NK FP Equity

FR0000120859

IMERYS SA

Materials

45.56

3.51%

06.05.2013

34.87

35.07

34.88

34.88

36.30

35.87

-0.025 0.006

0.007 -0.003 0.017 -0.009

0.002

0.000

0.000

0.000

0.000

0.000

IMI LN Equity

GB0004579636

IMI PLC

Industrials

921.00

3.69%

10.04.2013

IIA AV Equity

AT0000809058

IMMOFINANZ AG

Financials

2.89

5.18%

08.10.2013

20.51

24.76

25.19

24.35

26.60

26.26

0.483

0.411

0.029

0.018

0.016

0.010

0.003

0.002

IMT LN Equity

GB0004544929

IMPERIAL TOBACCO GROUP PLC

Consumer Staples

2316.00

4.68%

16.01.2013

19.13

19.13

19.13

19.88

-0.039 -0.039 -0.040 -0.046

0.005

0.005

0.005

0.002

IM NA Equity

NL0006055329

ROYAL IMTECH NV

Industrials

20.78

3.75%

11.04.2013

20.99

21.68

22.52

23.70

-0.292 -0.272 -0.284 -0.216

0.022

0.006

0.007

0.004

INCH LN Equity

GB00B61TVQ02

INCHCAPE PLC

Consumer Discretionary

357.60

3.52%

15.05.2013

ITX SQ Equity

ES0148396015

INDITEX

Consumer Discretionary

98.65

1.82%

02.05.2013

27.79

27.66

27.51

26.00

25.36

24.70

24.37

-0.137 -0.140 -0.142 -0.155 -0.153 -0.147 -0.131 0.002

0.002

0.001

0.002

0.002

0.001

IDR SQ Equity

ES0118594417

INDRA SISTEMAS SA

Information Technology

7.61

6.05%

03.07.2013

35.50

35.05

34.59

33.83

33.27

32.55

34.74

-0.126 -0.188 -0.165 -0.089 -0.064 -0.018 -0.155 0.001 -0.002 -0.001 0.000

0.000 -0.001 0.000

INDUA SS Equity EU0009658145

INDUSTRIVARDEN AB-A SHS

Financials

98.90

4.55%

07.05.2013

IFX GY Equity

DE0006231004

INFINEON TECHNOLOGIES AG

Information Technology

5.14

2.34%

08.03.2013

38.46

40.03

39.96

39.55

39.36

40.25

40.22

-0.359 -0.300 -0.294 -0.200 -0.157 -0.115 -0.091 0.019

0.004

0.005

0.003

0.001

0.001

0.002

INF LN Equity

JE00B3WJHK45

INFORMA PLC

Consumer Discretionary

406.70

4.70%

24.04.2013

INGA NA Equity

NL0000303600

ING GROEP NV-CVA

Financials

6.32

43.42

42.96

42.82

41.99

42.13

41.19

40.98

-0.347 -0.403 -0.365 -0.310 -0.230 -0.236 -0.180 0.008

0.006

0.005

0.004 -0.001 0.001

0.002

ING FP Equity

FR0000125346

INGENICO

Information Technology

41.24

1.21%

06.05.2013

ISAT LN Equity

GB00B09LSH68

INMARSAT PLC

Telecommunication Services 591.00

4.65%

15.05.2013

IHG LN Equity

GB00B1WQCS47

INTERCONTINENTAL HOTELS GROU

Consumer Discretionary

1629.00

2.47%

20.03.2013

20.79

20.79

20.96

23.59

-0.199 -0.199 -0.197 -0.165

0.005

0.005

0.004

0.003

ICP LN Equity

GB0004564430

INTERMEDIATE CAPITAL GROUP

Financials

301.60

6.23%

05.12.2012

IAG LN Equity

ES0177542018

INTL CONSOLIDATED AIRLINE-DI

Industrials

151.10

33.48

32.27

32.40

33.37

-0.050 -0.013 -0.047 -0.079

0.003

0.005

0.004

0.000

IPR LN Equity

GB0006320161

INTERNATIONAL POWER PLC

#N/A N/A

#N/A N/A

ITRK LN Equity

GB0031638363

INTERTEK GROUP PLC

Industrials

2744.00

1.46%

05.06.2013

ISP IM Equity

DE0005557508

INTESA SANPAOLO

Financials

1.22

4.93%

24.06.2013

46.22

48.01

48.05

47.42

-0.345 -0.359 -0.351 -0.283 -0.145 -0.203 -0.187 0.015

0.002

0.002

0.001

ISYS LN Equity

GB00B19DVX61

INVENSYS PLC

Industrials

236.90

2.07%

21.11.2012

28.63

28.63

28.77

30.59

-0.018 -0.018 -0.022 -0.066

0.002

0.002

0.002

0.003

INVP LN Equity

GB00B17BBQ50

INVESTEC PLC

Financials

389.70

4.62%

05.12.2012

18.35

18.35

18.46

20.19

-0.177 -0.177 -0.179 -0.185

0.003

0.003

0.003

0.002

KINVB SS Equity

SE0000164626

INVESTMENT AB KINNEVIK-B SHS

Financials

136.70

4.02%

17.05.2013

16.89

16.22

16.56

19.28

19.07

0.043 -0.029 -0.085 -0.108 0.030

0.029

0.014

0.008

0.001

0.000

INVEB SS Equity

SE0000107419

INVESTOR AB-B SHS

Financials

146.50

4.10%

15.04.2013

20.35

19.51

19.83

21.18

21.83

-0.294 -0.235 -0.221 -0.182 0.095

0.049

0.024

0.013

0.003

0.000

ITV LN Equity

GB0033986497

ITV PLC

Consumer Discretionary

89.30

2.69%

01.05.2013

27.08

27.08

27.12

27.61

-0.071 -0.071 -0.067 -0.024

0.003

0.003

0.003

0.002

SBRY LN Equity

GB00B019KW72

SAINSBURY (J) PLC

Consumer Staples

346.20

4.79%

21.11.2012

18.89

18.88

18.65

19.27

19.55

19.55

0.051

0.016

0.011

0.009

0.003

0.003

JLT LN Equity

GB0005203376

JARDINE LLOYD THOMPSON GROUP

Financials

769.50

3.40%

03.04.2013

DEC FP Equity

FR0000077919

JC DECAUX SA

Consumer Discretionary

17.58

2.79%

17.05.2013

25.25

25.22

24.96

25.08

25.87

25.90

-0.099 -0.006 0.007

0.020

0.000

0.000

0.000

0.000 -0.001

JMT PL Equity

PTJMT0AE0001

JERONIMO MARTINS

Consumer Staples

12.93

2.47%

30.04.2013

JM SS Equity

SE0000806994

JM AB

Consumer Discretionary

119.75

5.68%

29.04.2013

WG/ LN Equity

GB00B5N0P849

WOOD GROUP (JOHN) PLC

Energy

812.50

1.39%

10.04.2013

JMAT LN Equity

GB00B70FPS60

JOHNSON MATTHEY PLC

Materials

2453.00

2.47%

28.11.2012

BAER VX Equity

CH0102484968

JULIUS BAER GROUP LTD

Financials

33.44

2.24%

12.04.2013

19.91

21.90

22.57

24.57

26.76

27.87

29.23

-0.191 -0.205 -0.212 -0.184 -0.096 -0.077 -0.067 0.024

0.004

0.004

0.002

0.001

0.002

0.002

JYSK DC Equity

DK0010307958

JYSKE BANK-REG

Financials

167.90

SDF GY Equity

DE000KSAG888

K+S AG-REG

Materials

39.02

3.59%

10.05.2013

21.30

22.70

22.69

24.12

24.98

25.05

25.65

-0.183 -0.188 -0.241 -0.195 -0.105 -0.104 -0.110 0.017

0.004

0.006

0.002

0.001

0.001

0.002

KD8 GY Equity

DE000KD88880

KABEL DEUTSCHLAND HOLDING AG

Consumer Discretionary

56.06

2.68%

14.10.2013

21.84

23.87

24.78

26.05

27.69

28.34

27.80

-0.102 -0.079 -0.138 -0.103 -0.080 -0.101 -0.085 0.013

0.003

0.004

0.002

0.001

0.001

0.001

KAZ LN Equity

GB00B0HZPV38

KAZAKHMYS PLC

Materials

705.50

2.63%

17.04.2013

45.36

45.36

45.29

44.13

-0.201 -0.201 -0.198 -0.145

0.002

0.002

0.002

0.001

KBC BB Equity

BE0003565737

KBC GROEP NV

Financials

18.98

1.84%

10.05.2013

43.76

45.47

45.83

45.46

46.48

46.48

-0.196 -0.193 -0.187 -0.173 -0.067 -0.067

0.007

0.004

0.002

0.001 -0.001 -0.001

KRA1V FH Equity FI0009004824

KEMIRA OYJ

KYG ID Equity

24.87

25.02

-0.087 -0.076 -0.153 -0.138 -0.153 -0.146

0.022

0.004

0.002

0.002

-0.202 -0.116 -0.171 -0.146

0.004

0.003

0.005

0.002

25.04.2013

06.03.2013

23.41

22.97

26.80

-0.163 -0.144 -0.177 -0.075 0.071 -0.061 0.005

0.008

0.247

0.459

0.002 -0.011 -0.054

-0.193 -0.193 -0.187 -0.119

46.88

47.47

47.81

0.519

0.006

0.080

0.005

0.751

1.004

0.045 -0.016 -0.079 -0.060 -0.060 0.005

0.059

0.054

0.001

0.001

0.001

0.002

0.003

Materials

10.97

4.56%

25.03.2013

KERRY GROUP PLC-A

Consumer Staples

39.73

0.91%

10.04.2013

22.84

21.54

21.52

22.41

KESBV FH Equity FI0009000202

KESKO OYJ-B SHS

Consumer Staples

22.08

6.11%

02.04.2013

KGF LN Equity

GB0033195214

KINGFISHER PLC

Consumer Discretionary

263.60

3.60%

01.05.2013

20.48

20.74

22.08

23.14

LI FP Equity

FR0000121964

KLEPIERRE

Financials

27.56

5.62%

22.04.2013

38.62

38.34

38.34

38.55

40.09

39.22

KCO GY Equity

DE000KC01000

27.05.2013

40.88

42.94

42.74

42.00

42.00

42.99

43.71

-0.173 -0.081 -0.093 -0.163 -0.138 -0.164 -0.193 0.009

0.001

0.001

0.001

0.001

0.000

0.000

-0.055 -0.102 -0.266 -0.143 -0.021 -0.046 -0.022 0.035

0.002

0.002

-0.174 -0.198 -0.215 -0.175 -0.101

0.001

0.001

IE0004906560

0.032

0.004

0.005

0.007

0.039

0.003

KLOECKNER & CO SE

Industrials

7.59

KNEBV FH Equity FI0009013403

KONE OYJ-B

Industrials

55.50

2.61%

05.03.2013

KCR1V FH Equity US78378X1072

KONECRANES OYJ

Industrials

23.20

4.31%

05.04.2013

AH NA Equity

NL0006033250

KONINKLIJKE AHOLD NV

Consumer Staples

9.80

4.49%

26.04.2013

15.86

16.89

17.10

17.90

18.57

17.61

17.65

BOKA NA Equity

NL0000852580

BOSKALIS WESTMINSTER

Industrials

28.53

4.35%

14.05.2013

19.89

21.61

22.62

23.65

24.98

DSM NA Equity

NL0000009827

KONINKLIJKE DSM NV

Materials

39.05

3.89%

15.05.2013

22.01

22.89

22.78

23.08

23.00

23.49

24.38

KPN NA Equity

NL0000009082

KONINKLIJKE KPN NV

Telecommunication Services 6.03

5.81%

11.04.2013

25.03

24.35

26.09

25.70

25.75

26.51

PHIA NA Equity

NL0000009538

KONINKLIJKE PHILIPS ELECTRON

Industrials

18.29

4.10%

02.05.2013

24.79

26.45

26.15

26.13

26.24

25.34

VPK NA Equity

NL0009432491

VOPAK

Industrials

55.34

1.66%

26.04.2013

18.60

19.61

19.47

20.23

21.05

KNIN VX Equity

CH0025238863

KUEHNE & NAGEL INTL AG-REG

Industrials

106.90

4.02%

10.05.2013

24.60

24.07

24.13

24.71

25.98

OR FP Equity

FR0000120321

L'OREAL

Consumer Staples

97.39

2.26%

29.04.2013

19.44

20.45

20.44

20.82

21.27

20.57

19.81

LAD LN Equity

GB00B0ZSH635

LADBROKES PLC

Consumer Discretionary

170.60

4.81%

13.03.2013

20.53

20.53

20.60

22.22

LG FP Equity

FR0000120537

LAFARGE SA

Materials

42.59

1.41%

03.07.2013

32.25

33.52

33.06

33.31

34.64

32.53

32.62

MMB FP Equity

FR0000130213

LAGARDERE S.C.A.

Consumer Discretionary

21.21

6.13%

20.05.2013

30.36

30.36

30.39

30.60

30.79

31.28

30.91

LAND LN Equity

GB0031809436

LAND SECURITIES GROUP PLC

Financials

764.00

3.98%

28.11.2012

14.78

14.99

15.39

16.44

LXS GY Equity

DE0005470405

LANXESS AG

Materials

65.08

1.46%

16.05.2013

32.85

34.06

33.62

33.91

34.77

34.56

34.96

LGEN LN Equity

GB0005603997

LEGAL & GENERAL GROUP PLC

Financials

133.80

5.64%

17.04.2013

19.00

21.00

21.13

22.76

23.31

LR FP Equity

FR0010307819

LEGRAND SA

Industrials

29.85

3.22%

31.05.2013

26.44

26.44

26.53

27.57

27.13

LIN GY Equity

DE0006483001

LINDE AG

Materials

135.55

1.99%

30.05.2013

16.94

18.66

18.86

20.26

21.12

21.32

LISN SE Equity

CH0010570759

LINDT & SPRUENGLI AG-REG

Consumer Staples

34035.00

1.65%

30.04.2013

18.65

18.49

18.38

18.38

19.08

18.25

LLOY LN Equity

GB0008706128

LLOYDS BANKING GROUP PLC

Financials

39.73

06.03.2013

34.94

34.70

36.51

36.75

39.06

37.89

LOG LN Equity

GB0005227086

LOGICA PLC

#N/A N/A

#N/A N/A

LOGN VX Equity

#N/A N/A

LOGITECH INTERNATIONAL-REG

Information Technology

#N/A N/A

LSE LN Equity

GB00B0SWJX34

LONDON STOCK EXCHANGE GROUP

Financials

935.50

05.12.2012

25.08

25.08

25.01

24.08

LMI LN Equity

GB0031192486

LONMIN PLC

Materials

560.00

09.01.2013

46.16

46.16

45.97

44.00

LONN VX Equity

CH0013841017

LONZA GROUP AG-REG

Health Care

49.70

4.33%

15.04.2013

31.94

30.60

29.09

28.50

28.59

29.17

LUNDB SS Equity SE0000108847

LUNDBERGS AB-B SHS

Financials

227.70

1.87%

09.04.2013

LUPE SS Equity

SE0000825820

LUNDIN PETROLEUM AB

Energy

161.80

27.66

29.22

28.47

30.63

34.00

LUX IM Equity

IT0001479374

LUXOTTICA GROUP SPA

Consumer Discretionary

27.97

1.93%

20.05.2013

19.93

21.14

21.57

22.03

22.71

22.71

MC FP Equity

FR0000121014

LVMH MOET HENNESSY LOUIS VUI

Consumer Discretionary

119.60

2.51%

22.04.2013

25.19

25.40

25.81

26.35

27.77

25.31

EMG LN Equity

GB00B28KQ186

MAN GROUP PLC

Financials

84.05

16.21%

24.04.2013

49.30

47.87

48.53

47.01

MAN GY Equity

DE0005937007

MAN SE

Industrials

72.15

2.77%

22.04.2013

26.67

27.05

27.28

27.54

28.61

28.47

MAP SQ Equity

ES0124244E34

MAPFRE SA

Financials

2.19

6.86%

14.12.2012

42.38

41.49

38.92

35.00

29.43

27.34

MHG NO Equity

NO0003054108

MARINE HARVEST

Consumer Staples

4.67

67.46

67.46

67.86

MKS LN Equity

GB0031274896

MARKS & SPENCER GROUP PLC

Consumer Discretionary

357.80

4.81%

14.11.2012

22.07

24.25

24.23

24.86

25.98

MEDAA SS Equity SE0000221723

MEDA AB-A SHS

Health Care

67.20

3.27%

06.05.2013

17.80

20.25

20.05

21.82

26.15

-0.356 -0.237 -0.185 -0.081 0.025

MS IM Equity

IT0001063210

MEDIASET SPA

Consumer Discretionary

1.52

3.30%

20.05.2013

49.30

49.34

48.09

46.09

48.57

48.57

-0.205 -0.264 -0.251 -0.187 -0.214 -0.214

MB IM Equity

IT0000062957

MEDIOBANCA SPA

Financials

4.26

1.17%

18.11.2013

40.87

42.25

41.71

41.22

42.02

42.02

-0.306 -0.293 -0.257 -0.235 -0.119 -0.119

MGGT LN Equity

GB0005758098

MEGGITT PLC

Industrials

399.00

2.97%

13.03.2013

MRO LN Equity

GB00B464F978

MELROSE PLC

Industrials

243.80

3.40%

03.04.2013

MRK GY Equity

DE0006599905

MERCK KGAA

MEO GY Equity

DE0007257503

3.28%

0.002

0.002

-0.001 0.000 -0.001 -0.001 0.000

0.001

0.014

0.015

0.004

0.000

0.026

0.008

0.006

0.004

0.001

-0.274 -0.301 -0.273 -0.198 -0.124 -0.103 -0.068 0.020

0.009

0.007

0.003

0.002

27.99

0.050 -0.041 -0.067 -0.106 -0.008 -0.004 0.025

0.022

0.007

0.006

0.003

0.002 -0.001 -0.001

25.51

-0.229 -0.278 -0.296 -0.223 -0.125 -0.112 -0.087 0.023

0.005

0.006

0.004

0.000

0.002

21.05

-0.160 -0.170 -0.188 -0.128 -0.079 -0.079

0.022

0.006

0.006

0.002

0.001

0.001

23.75

-0.159 -0.214 -0.255 -0.185 -0.082 -0.033

0.007

0.003

0.005

0.002

0.001

0.004

-0.164 -0.223 -0.297 -0.216 -0.155 -0.180 -0.169 0.018

0.006

0.005

0.003

0.002

0.004

-0.100 -0.100 -0.102 -0.118

0.004

0.004

0.004

0.003

-0.354 -0.308 -0.280 -0.220 -0.140 -0.081 -0.009 0.013

0.008

0.005

0.002

0.001

0.000 -0.001

-0.232 -0.232 -0.227 -0.160 -0.079 -0.046 -0.072 0.003 -0.084 -0.149 -0.142 -0.139

0.003

0.004

0.003

0.003

0.002

0.001

0.000

0.000

0.002

0.002

0.005

0.002

-0.239 -0.216 -0.197 -0.170 -0.147 -0.129 -0.113 0.008

0.004

0.003

0.002

0.001

0.001

0.001

23.31

-0.112 -0.258 -0.263 -0.253 -0.196 -0.196

0.010

0.006

0.006

0.003

0.003

0.003

27.13

-0.109 -0.109 -0.110 -0.113 -0.108 -0.108

0.001

0.001

0.001

0.001

0.002

0.002

21.81

-0.297 -0.312 -0.297 -0.237 -0.162 -0.121 -0.099 0.026

0.009

0.008

0.004

0.002

0.001

-0.006 0.000

0.000

0.000

0.000

0.000

37.29

-0.453 -0.376 -0.254 -0.219 -0.302 -0.202 -0.212 0.007

0.005

0.005

0.000

0.004

0.001

26.28

0.158

0.005

0.007

0.011

0.027

0.027

0.004

-0.138 -0.138 -0.138 -0.132

-0.001 -0.001 -0.001 -0.001

-0.183 -0.183 -0.183 -0.179

0.000

0.000

0.000

0.002

-0.024 -0.004 -0.044 -0.067 -0.012 -0.073

0.013

0.004

0.003

0.002

0.001

-0.176 0.032 -0.056 -0.038 0.063

0.036

0.008

0.007

0.003

0.000

-0.131 -0.327 -0.271 -0.197 -0.086 -0.086

0.001 0.005

0.020

0.004

0.003

0.002

0.001

0.001

-0.314 -0.291 -0.256 -0.193 -0.123 -0.143 -0.129 0.014

0.005

0.004

0.002

0.000

0.001

0.001

-0.066 -0.076 -0.038 -0.071

0.003

0.002

0.000

0.001

29.18

-0.055 -0.081 -0.075 -0.064 -0.050 -0.056 -0.061 0.005

0.001

0.000

0.000

0.001

0.001

0.001

27.63

-0.341 -0.367 -0.375 -0.281 -0.195 -0.214 -0.233 0.004

0.002 -0.002 -0.001 0.001

0.001

0.002

0.002

0.002

24.80

26.03

1.119

1.119

1.003

-0.002 -0.002 -0.001

0.169

0.035 -0.070 -0.075 -0.038 -0.092 -0.093 0.021

0.010

0.007

0.004

0.000

0.062

0.029

0.017

0.005 -0.002

0.008

0.002

0.003

0.003

0.003

0.003

0.012

0.005

0.004

0.003

0.000

0.000

Health Care

97.60

1.79%

29.04.2013

19.55

20.68

20.50

21.09

21.49

22.31

22.55

-0.261 -0.292 -0.266 -0.207 -0.118 -0.107 -0.107 0.025

0.010

0.007

0.004

0.001

0.001

0.001

METRO AG

Consumer Staples

23.53

5.82%

24.05.2013

27.63

29.37

29.41

29.71

31.08

29.68

29.90

-0.310 -0.262 -0.233 -0.156 -0.066 -0.056 -0.039 0.021

0.007

0.005

0.003

0.001

0.001

0.001

MEO1V FH Equity FI0009007835

METSO OYJ

Industrials

27.99

6.07%

28.03.2013

36.92

37.01

37.09

-0.190 -0.150 -0.133

0.007

0.002

0.002

MPI LN Equity

GB0030232317

MICHAEL PAGE INTERNATIONAL

Industrials

358.00

2.86%

01.05.2013

MAB LN Equity

GB00B1FP6H53

MITCHELLS & BUTLERS PLC

Consumer Discretionary

293.80

MOBB BB Equity

BE0003735496

MOBISTAR SA

Telecommunication Services 23.90

12.13%

17.05.2013

32.35

31.74

31.32

31.52

31.60

0.002

0.000

0.000

0.001 -0.001 -0.001

MTGB SS Equity

SE0000412371

MODERN TIMES GROUP-B SHS

Consumer Discretionary

297.30

3.23%

20.05.2013

27.04

25.96

25.96

25.96

26.27

0.000

0.000

0.000

0.000

0.001

MNDI LN Equity

GB00B1CRLC47

MONDI PLC

Materials

623.00

3.57%

10.04.2013

MTX GY Equity

DE000A0D9PT0

MTU AERO ENGINES HOLDING AG

Industrials

63.12

2.14%

03.05.2013

23.27

24.35

23.88

24.76

26.45

27.07

27.22

-0.156 -0.136 -0.141 -0.125 -0.096 -0.080 -0.066 0.014

0.004

0.005

0.002

0.001

0.002

0.002

MUV2 GY Equity

DE0008430026

MUENCHENER RUECKVER AG-REG

Financials

123.10

5.28%

26.04.2013

18.47

19.54

20.07

21.25

21.55

20.74

21.06

-0.116 -0.261 -0.285 -0.222 -0.137 -0.103 -0.078 0.028

0.012

0.007

0.003

0.002

0.003

0.003

ETE GA Equity

GRS003013000

NATIONAL BANK OF GREECE

Financials

1.90

21.05.2013

83.94

83.94

83.94

83.94

79.16

0.154

0.003

0.003

0.003

0.003

0.000

NEX LN Equity

GB0006215205

NATIONAL EXPRESS GROUP PLC

Industrials

210.60

4.87%

24.04.2013

NG/ LN Equity

GB00B08SNH34

NATIONAL GRID PLC

Utilities

695.50

5.87%

28.11.2012

15.54

15.40

15.78

16.67

16.29

16.29

KN FP Equity

FR0000120685

NATIXIS

Financials

2.50

4.00%

03.06.2013

43.18

41.37

41.22

40.04

41.60

38.69

NCCB SS Equity

SE0000117970

NCC AB-B SHS

Industrials

126.30

7.92%

05.04.2013

NEO FP Equity

FR0000120560

NEOPOST SA

Information Technology

43.74

9.15%

12.12.2012

26.35

26.17

26.94

27.07

26.48

28.59

NES1V FH Equity FI0009013296

NESTE OIL OYJ

Energy

10.34

3.87%

15.04.2013

31.79

33.35

34.06

34.61

35.04

NESN VX Equity NEX FP Equity

NESTLE SA-REG NEXANS SA

Consumer Staples Industrials

59.80 36.41

3.51% 3.30%

24.04.2013 03.06.2013

11.82 44.19

11.72 42.77

12.31 42.21

13.42 41.02

15.69 41.67

CH0038863350 FR0000044448

28.11.2012 31.60

-0.071 -0.096 -0.101 -0.094 0.072 0.106

15.88 41.38

0.079

0.154

0.079

0.154

0.072

0.079 -0.040

0.154

0.158

-0.015 -0.133 -0.190 -0.087 -0.024 -0.024 38.37

16.73

0.006

0.006

0.009

0.001

0.001

0.001

-0.443 -0.489 -0.330 -0.244 -0.266 -0.153 -0.097 0.022

0.008

0.007

0.002

0.002

0.004

-0.140 0.007 -0.005 0.004 -0.047 -0.060

0.009

0.000

0.000

0.000

0.001

0.002

-0.223 -0.189 -0.138 -0.111 -0.088

0.019

0.005

0.002

0.001

0.002

-0.178 -0.161 -0.221 -0.199 -0.127 -0.092 -0.074 0.034 -0.113 -0.134 -0.120 -0.132 -0.117 -0.139 0.001

0.019 0.001

0.015 0.001

0.007 0.001

0.002 0.001

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

0.002 0.001

0.004

0.001


01.10.2012

Stoxx 600 Index

Ticker

ISIN

NXT LN Equity GB0032089863 NOBN VX Equity #N/A N/A NOK1V FH Equity FI0009000681 NRE1V FH Equity FI0009005318 NDA SS Equity SE0000427361 NHY NO Equity NO0005052605 NOVN VX Equity CH0012005267 NOVOB DC Equity DK0060102614 NZYMB DC Equity DK0060336014 NUO NA Equity NL0000375400 BEKB BB Equity BE0974258874 NYR BB Equity BE0003876936 OML LN Equity GB00B77J0862 OMV AV Equity AT0000743059 OPAP GA Equity GRS419003009 ORI SS Equity SE0001174889 ORNBV FH Equity FI0009014377 ORK NO Equity NO0003733800 OTE1V FH Equity FI0009014575 PWL ID Equity IE0002588105 PARG SE Equity CH0021783391 PGHN SE Equity CH0024608827 PSON LN Equity GB0006776081 PNN LN Equity GB00B18V8630 RI FP Equity FR0000120693 PSN LN Equity GB0006825383 PFC LN Equity GB00B0H2K534 PGS NO Equity NO0010199151 POG LN Equity GB0031544546 UG FP Equity FR0000121501 PC IM Equity IT0004623051 POH1S FH Equity FI0009003222 PAH3 GY Equity DE000PAH0038 PTC PL Equity PTPTC0AM0009 PNL NA Equity NL0009739416 PP FP Equity FR0000121485 PMO LN Equity GB00B43G0577 PSM GY Equity DE0007771172 PFG LN Equity GB00B1Z4ST84 PRU LN Equity GB0007099541 PRY IM Equity IT0004176001 PSPN SE Equity CH0018294154 PUB FP Equity FR0000130577 PUM GY Equity DE0006969603 PZC LN Equity GB00B19Z1432 QIA GY Equity NL0000240000 RBI AV Equity AT0000606306 RRS LN Equity GB00B01C3S32 RAND NA Equity NL0000379121 RATOB SS Equity SE0000111940 RB/ LN Equity GB00B24CGK77 REE SQ Equity ES0173093115 REN NA Equity NL0006144495 REL LN Equity GB00B2B0DG97 RCO FP Equity FR0000130395 RNO FP Equity FR0000131906 RTO LN Equity GB00B082RF11 REP SQ Equity ES0173516115 REX LN Equity GB0004250451 RXL FP Equity FR0010451203 RHM GY Equity DE0007030009 RHK GY Equity DE0007042301 RMV LN Equity GB00B2987V85 RIO LN Equity GB0007188757 ROG VX Equity CH0012032048 RR/ LN Equity GB00B63H8491 ROR LN Equity GB0007506958 RBS LN Equity GB00B7T77214 RDSA NA Equity GB00B03MLX29 RSA LN Equity GB0006616899 RWE GY Equity DE0007037129 RYA ID Equity IE00B1GKF381 SAB LN Equity GB0004835483 SAF FP Equity FR0000073272 SGE LN Equity GB0008021650 SPM IM Equity IT0000068525 SZG GY Equity DE0006202005 SAMAS FH Equity FI0009003305 SAND SS Equity SE0000667891 SAN FP Equity FR0000120578 SAA1V FH Equity FI0009007694 SAP GY Equity DE0007164600 SBMO NA Equity NL0000360618 SCVB SS Equity SE0000308280 SCH NO Equity NO0003028904 SCHP VX Equity CH0024638196 SU FP Equity FR0000121972 SDR LN Equity GB0002405495 SCR FP Equity FR0010411983 SDRL NO Equity BMG7945E1057 SK FP Equity FR0000121709 SECUB SS Equity SE0000163594 SGRO LN Equity GB00B5ZN1N88 SRP LN Equity GB0007973794 SESG FP Equity LU0088087324 SVT LN Equity GB00B1FH8J72 SGL GY Equity DE0007235301 SGSN VX Equity CH0002497458 SHB LN Equity GB0007990962 SHP LN Equity JE00B2QKY057 SIE GY Equity DE0007236101 SIK SE Equity #N/A N/A SEBA SS Equity SE0000148884 SKAB SS Equity SE0000113250 SKFB SS Equity SE0000108227 SN/ LN Equity GB0009223206 SMIN LN Equity GB00B1WY2338 SRG IM Equity IT0003153415 BB FP Equity FR0000120966 GLE FP Equity FR0000130809 TFI FP Equity FR0000054900 SW FP Equity FR0000121220 SOF BB Equity BE0003717312 SOW GY Equity DE0003304002 SOLB BB Equity BE0003470755 SOON VX Equity CH0012549785 SXS LN Equity GB0003308607 SPX LN Equity GB0008347048 SSABA SS Equity SE0000171100 SSE LN Equity GB0007908733 SAZ GY Equity DE0007251803 SGC LN Equity GB00B6YTLS95 STAN LN Equity GB0004082847 SL/ LN Equity GB00B16KPT44 STL NO Equity NO0010096985 STM IM Equity NL0000226223

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

GICS_SECTOR_NAME

ATM2 Ref

Consumer Discretionary 3466.00 Health Care #N/A N/A Information Technology 2.01 Consumer Discretionary 31.89 Financials 65.15 Materials 26.81 Health Care 57.95 Health Care 926.00 Materials 159.00 Consumer Staples 57.90 Materials 22.28 Materials 4.83 Financials 173.50 Energy 27.51 Consumer Discretionary 4.13 Consumer Staples 222.00 Health Care 16.65 Industrials 43.91 Industrials 37.41 Consumer Discretionary 57.55 Financials 62.50 Financials 196.50 Consumer Discretionary 1220.00 Utilities 733.50 Consumer Staples 88.44 Consumer Discretionary 761.00 Energy 1604.00 Energy 97.95 Materials 421.40 Consumer Discretionary 6.15 Consumer Discretionary 8.51 Financials 10.26 Consumer Discretionary 46.27 Telecommunication Services 3.76 Industrials 2.67 Consumer Discretionary 119.75 Energy 363.20 Consumer Discretionary 19.81 Financials 1356.00 Financials 812.50 Industrials 14.31 Financials 84.60 Consumer Discretionary 43.93 Consumer Discretionary 216.50 Consumer Staples 301.20 Health Care 14.79 Financials 28.42 Materials 7645.00 Industrials 26.14 Financials 57.40 Consumer Staples 3609.00 Utilities 37.13 Consumer Discretionary 10.50 Consumer Discretionary 598.00 Consumer Staples 89.64 Consumer Discretionary 36.20 Industrials 82.65 Energy 15.05 Materials 439.80 Industrials 15.74 Industrials 36.28 Health Care 15.31 Consumer Discretionary 1567.00 Materials 2912.50 Health Care 179.00 Industrials 864.50 Industrials 2321.00 Financials 262.90 Energy 27.04 Financials 111.60 Utilities 34.93 Industrials 4.45 Consumer Staples 2739.00 Industrials 28.03 Information Technology 318.30 Energy 37.78 Materials 30.52 Financials 24.43 Industrials 90.50 Health Care 68.02 Consumer Discretionary 6.98 Information Technology 55.56 Energy 11.31 Industrials 121.60 Consumer Discretionary 219.20 Industrials 117.60 Industrials 47.16 Financials 1569.00 Financials 20.27 Energy 229.10 Consumer Discretionary 53.47 Industrials 49.45 Financials 225.90 Industrials 591.50 Consumer Discretionary 21.19 Utilities 1695.00 Industrials 31.17 Industrials 1957.00 Financials 529.50 Health Care 1844.00 Industrials 78.42 Materials #N/A N/A Financials 55.05 Industrials 106.80 Industrials 143.10 Health Care 691.50 Industrials 1045.00 Utilities 3.47 Industrials 93.20 Financials 22.52 Consumer Discretionary 6.53 Consumer Discretionary 58.96 Financials 64.50 Information Technology 28.45 Materials 91.15 Health Care 98.20 Information Technology 1791.00 Industrials 2128.00 Materials 46.75 Utilities 1402.00 Health Care 23.28 Industrials 282.00 Financials 1419.50 Financials 276.90 Energy 147.60 Information Technology 4.31

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

Dividend Yield

Next ExDividend Date

2.89%

26.06.2013

19.21

19.21

19.30

20.69

76.79 34.03 22.67 47.91 11.71 21.48 24.83 19.52 41.99 43.81 22.67 23.90 149.53 26.31

67.38 33.88 24.54 41.81 12.21 24.05 27.59 17.87 44.01 43.73 22.67 24.46 149.53 26.31

69.45 33.78 24.57 40.69 12.19 22.96 26.51 17.61 44.31 43.19 22.79 23.26 149.53 26.31

69.91

70.27

67.84

27.44 39.41 12.29 22.95 27.83 18.11 46.35 42.85 24.25 22.66 149.53 26.31

27.66 36.94 13.20 22.14 26.16

27.66

44.39 43.36

44.39 43.36

22.35 80.15 26.31

25.98

28.56

25.96

25.23

27.04

22.89

17.00 18.10 15.95

17.39 18.03 15.95

16.65 17.99 16.04

16.63 17.95 17.12

17.57 18.42

17.45 18.47

19.52

20.52

21.02

22.08

22.87

23.95

24.72 41.59

24.72 41.59

24.90 41.59

27.36 41.62

4.00% 4.87% 2.27% 8.65% 12.67% 3.34%

03.05.2013 15.04.2013 25.03.2013 06.05.2013 26.02.2013 21.03.2013 28.02.2013 02.04.2013 10.05.2013 09.08.2013 17.04.2013 13.05.2013 14.12.2012 22.05.2013 01.04.2013 19.04.2013 26.03.2013 13.03.2013 09.05.2013 06.05.2013 03.04.2013 30.01.2013 02.07.2013 08.05.2013 17.04.2013 06.05.2013 26.06.2013 05.06.2013 20.05.2013 28.03.2013 24.06.2013 28.12.2012 23.04.2013 02.05.2013

52.80 30.89

53.79 32.28

53.29 32.88

52.37 32.28

52.51 32.75

53.29 32.75

32.18

33.66

32.89

33.19

32.78

41.70 21.95

44.47 23.70

45.27 23.71

42.65 24.53

40.68 25.51

6.87% 5.53% 3.32% 1.86% 3.55% 1.94% 0.92% 2.42%

16.05.2013 15.05.2013 27.03.2013 22.04.2013 20.06.2013 27.06.2013 25.04.2013 20.02.2013

30.47

30.44

30.24

29.50

25.12 27.39 9.11 23.93 30.03

26.02 28.75 9.96 23.34 30.08

26.30 29.11 11.83 23.23 30.22

27.61 28.94 10.99 23.35 30.04

3.69% 0.53% 4.78% 9.58% 3.66% 6.69% 4.79% 3.86% 1.56% 4.75% 2.75% 5.58% 3.66% 4.45% 5.02% 2.94% 1.40% 3.68% 4.19% 2.28% 1.88%

13.46 42.39 36.95 25.12

15.26 41.94 36.95 26.41

16.87 43.33 36.92 26.40

16.04 26.05 19.21 17.12 23.04 36.16 25.17 37.15

16.04 24.73 20.01 17.12 23.13 37.18 25.17 38.30

33.11 29.71

5.04% 8.47% 5.73%

03.07.2013 08.05.2013 04.04.2013 08.04.2013 20.02.2013 02.01.2013 26.04.2013 24.04.2013 02.08.2013 10.05.2013 03.04.2013 03.01.2013 08.05.2013 24.05.2013 15.05.2013 13.06.2013 08.05.2013 27.02.2013 07.03.2013 24.04.2013 10.04.2013 27.02.2013 14.11.2012 27.03.2013 19.04.2013

2.33% 2.75% 3.35% 2.04% 1.47% 5.12% 4.20% 4.09% 9.31% 1.51% 5.75% 4.11% 1.82% 2.13% 3.82% 2.61% 5.67% 8.69% 2.43% 6.57% 6.60% 1.59% 4.55% 4.47% 0.64% 1.53% 2.39% 0.59% 3.89%

05.12.2012 19.12.2012 06.02.2013 20.05.2013 23.05.2013 15.04.2013 03.05.2013 10.05.2013 04.04.2013 24.05.2013 14.05.2013 06.05.2013 17.05.2013 18.03.2013 13.05.2013 27.03.2013 22.05.2013 10.12.2012 15.05.2013 06.05.2013 20.03.2013 06.03.2013 19.04.2013 05.12.2012 13.05.2013 18.03.2013 23.01.2013 06.03.2013 24.01.2013

3.36% 5.85% 3.84% 2.34% 3.70% 7.20% 2.58% 2.22% 8.42% 2.78% 3.24% 1.65% 3.36% 1.43% 2.15% 2.53% 4.28% 6.01% 2.79% 3.01% 3.75% 5.36% 4.61% 8.27%

01.04.2013 08.04.2013 24.04.2013 17.04.2013 20.03.2013 20.05.2013 21.05.2013 31.05.2013 26.04.2013 01.02.2013 29.04.2013 06.05.2013 17.01.2013 24.06.2013 29.05.2013 17.04.2013 27.03.2013 23.01.2013 06.06.2013 06.02.2013 06.03.2013 20.03.2013 16.05.2013 20.05.2013

4.55% 3.77% 2.80% 4.31% 1.73% 1.32% 3.71% 2.24% 3.31% 3.63% 4.18% 15.25% 6.87% 7.21% 6.26% 3.21% 2.15% 4.80% 2.93% 3.74% 3.88% 1.87% 9.86% 2.57% 1.46% 2.85%

-0.152 -0.152 -0.147 -0.088

13.88

67.86

13.88

-0.514 -0.006 -0.420 -0.819 -0.203 -0.149 -0.163 -0.280 -0.225 -0.404 -0.257 -0.389 ##### 0.000

-0.229 0.014 -0.410 -0.397 -0.195 -0.113 -0.076 -0.205 -0.168 -0.289 -0.257 -0.243 ##### 0.000

-0.189 0.006 -0.321 -0.383 -0.192 -0.083 -0.045 -0.249 -0.144 -0.248 -0.252 -0.161 ##### 0.000

0.003

0.003

0.003

0.001

-0.171 -0.202 -0.113 -0.081 0.016 0.003 -0.350 -0.072 -0.072 0.052 -0.210 -0.266 0.035 -0.075 -0.071 -0.048 -0.020 0.035 -0.026 0.049 0.002 0.018 0.029 0.011 -0.159 0.027 -0.096 -0.046 -0.046 0.006 -0.234 -0.045 -0.045 0.015 -0.171 0.007 -0.164 0.433 0.613 0.073 ##### -0.222 0.219 0.000 0.000 0.000

0.005 0.000 0.025 0.028 0.020 0.001 0.002 0.012 0.003 0.004 0.007 0.036 0.219 0.000

0.005 0.000 0.012 0.019 0.013 0.001 0.000 0.008 0.003 0.004 0.007 0.011 0.219 0.000

0.005

0.001 -0.001 0.002

0.004 0.000 0.000 0.006 0.007 0.008 0.003 0.002 0.002 0.000 0.000 0.001 0.001 0.005 0.000 -0.001 -0.001 0.001 -0.001 -0.001 0.002 0.004 0.004 -0.001 0.219 0.008 0.000 0.000

-0.347 -0.248 -0.219 -0.157 -0.213

0.084

0.051

0.035

0.010

0.012

-0.208 -0.218 -0.228 -0.228 -0.242 -0.260 -0.064 0.019 -0.006 0.001 0.033 0.027 -0.229 -0.229 -0.223 -0.138

0.026 0.017 0.007

0.009 0.000 0.007

0.008 0.000 0.006

0.008 0.000 0.003

0.009 0.000

0.009 0.000

-0.279 -0.331 -0.304 -0.244 -0.171 -0.053 -0.032 0.021

0.010

0.007

0.003

0.002

0.001

-0.100 -0.100 -0.098 -0.065 -0.211 -0.211 -0.209 -0.188

0.002 0.000

0.002 0.000

0.002 0.000

0.001 0.002

52.86

-0.195 -0.235 -0.196 -0.166 -0.177 -0.117 -0.384 0.014 -0.299 -0.286 -0.299 -0.247 -0.106 -0.106 0.021

0.009 0.006

0.004 0.003

0.001 0.004

0.000 0.001

0.000 -0.002 0.001

33.26

33.88

-0.322 -0.253 -0.167 -0.120 -0.054 -0.080 -0.070 0.009

0.005

0.003

0.001

0.001

0.001

40.68 26.05

40.68 25.79

-0.151 -0.174 -0.160 -0.110 0.188 0.188 0.188 0.015 -0.302 -0.236 -0.241 -0.188 -0.131 -0.082 -0.088 0.024

0.007 0.007

0.008 0.004

0.002 -0.002 -0.002 -0.002 0.003 0.001 0.001 0.001

33.07

30.60

31.90

-0.115 -0.008 -0.012 0.032

0.018

0.125

0.012

0.000

0.001

0.000 -0.001 -0.002 -0.001

27.71 28.21 10.80 23.90 30.19

27.15 28.21 10.76 24.17 30.67

26.61

-0.387 -0.201 -0.243 -0.164 -0.015

-0.350 -0.202 -0.053 -0.206 -0.025

-0.355 -0.221 -0.089 -0.212 -0.020

-0.283 -0.213 -0.047 -0.177 -0.011

-0.130 -0.178 -0.037 -0.117 -0.031

-0.177 -0.144 0.011 -0.178 0.005 -0.031 0.025 -0.083 -0.076 0.016 -0.033 -0.034 -0.001

0.004 0.001 0.010 0.007 0.000

0.004 0.002 0.009 0.005 0.000

0.003 0.003 0.002 0.003 0.000

20.42 41.30 36.47 27.83

22.77 40.05

25.49 36.32

25.37

29.37

29.37

29.37

-0.339 -0.158 0.006 -0.222

-0.214 -0.047 0.006 -0.218

-0.186 -0.039 0.002 -0.287

-0.227 -0.151 -0.127 -0.121 -0.055 0.444 0.572 -0.043 -0.230 -0.117 -0.117 -0.117

0.030 0.008 0.001 0.020

0.010 0.002 0.001 0.004

0.006 0.003 0.003 0.001 0.000 0.007 0.000 -0.001 0.006 0.003 0.000

16.11 23.80 19.39 17.20 23.11 36.92 25.05 39.36

17.48 23.18 19.25 18.32 22.94 36.36 23.35 38.23

18.62 22.95 18.80

18.62 22.59 17.83

22.68 17.63

23.48 36.41

23.39 36.54

34.35

37.38

37.08

35.93

-0.245 -0.220 -0.134 -0.255 -0.081 -0.359 -0.112 -0.268

-0.245 -0.219 -0.127 -0.255 -0.001 -0.299 -0.112 -0.275

-0.239 -0.218 -0.208 -0.253 0.002 -0.274 -0.110 -0.272

-0.159 -0.156 -0.177 -0.217 0.007 -0.209 -0.090 -0.223

-0.072 -0.072 0.007 -0.024 -0.028 -0.019 0.002 -0.054 -0.067 -0.036 0.034 0.006 -0.001 0.002 0.014 -0.050 -0.023 0.141 0.008 0.008 -0.204 -0.090 -0.052 -0.001

0.007 0.001 0.012 0.006 0.000 0.005 0.008 0.000

0.007 0.001 0.015 0.006 0.000 0.004 0.007 0.000

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

33.19 31.41

33.28 32.08

34.97 32.51

35.57 32.82

34.72 33.19

35.77 34.04

-0.227 -0.199 -0.222 -0.237 -0.211 -0.229 -0.246 0.004 0.007 -0.051 -0.063 -0.035 0.041 0.032 0.026 0.021

0.000 0.011

0.002 0.006

0.002 0.001

0.001 0.001

0.001 0.000

0.001 0.000

33.79 16.19 20.48

33.97 14.89 20.48

34.54 14.79 20.57

35.69 14.48 21.75

36.25 18.19

36.64 19.79

36.81 19.91

-0.285 -0.226 -0.216 -0.163 -0.116 -0.078 -0.032 0.016 -0.175 -0.185 -0.207 -0.108 -0.048 -0.036 -0.013 0.022 -0.168 -0.168 -0.164 -0.119 0.002

0.005 0.012 0.002

0.004 0.010 0.002

0.002 0.006 0.001

0.001 0.002

0.001 0.001

0.001 0.001

37.99 14.10 18.22 22.41 29.41 18.13 25.74 20.53 22.81 39.74 16.50 30.33 20.20

39.79 14.00 17.36 22.75 28.12 18.13 25.74 20.53 24.35 39.63 18.42 31.15 20.49

40.26 14.53 17.91 23.01 26.82 18.27 25.98 20.54 25.25 38.36 18.27 30.89 20.45

40.18 15.71 19.58 22.15 26.52 20.09 29.06 21.17 26.61 37.52 19.04 32.96 20.76

40.57 16.96 18.62 23.64 26.27

40.69 17.60 18.62 22.88 27.40

40.78 17.71

29.64

27.44 37.50 18.62 34.69 21.59

27.44 36.67

36.36

19.73

19.96

-0.105 -0.012 0.014 -0.123 -0.087 0.029 -0.080 0.001 -0.130 -0.098 0.031 -0.136 0.024 0.009 -0.131 0.003 0.007 -0.097 0.016 -0.102 -0.076 0.008 0.030 0.034 -0.110 -0.102 0.026

0.006 0.018 0.001 0.012 0.001 0.009 0.003 0.007 0.006 0.004 0.011 0.012 0.010

0.004 0.015 0.004 0.006 0.003 0.009 0.003 0.006 0.003 0.003 0.009 0.007 0.005

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

0.001 0.002

29.64

-0.328 -0.025 -0.114 -0.326 -0.199 -0.158 -0.190 -0.266 -0.376 -0.344 -0.276 -0.212 -0.335

18.90 36.16 27.28

19.44 38.65 28.23

19.12 38.81 29.67

20.61 37.30 29.85

22.28 33.68 30.21

22.96 36.76

23.42 36.68

-0.264 -0.292 -0.284 -0.252 -0.200 -0.181 -0.146 0.025 -0.112 -0.084 -0.133 -0.069 0.247 0.368 0.524 0.013 -0.290 -0.285 -0.248 -0.170 -0.084 0.037

0.011 0.003 0.012

0.008 0.004 0.006

0.005 0.002 0.001

0.001 0.008

20.06 34.91

20.03 37.01

19.98 37.12

20.20 36.78

20.27 36.60

22.05 36.42

36.95

-0.140 -0.039 -0.050 -0.034 0.068 0.042 0.014 -0.301 -0.249 -0.264 -0.220 -0.131 -0.084 -0.079 0.012

0.001 0.004

0.001 0.004

0.001 -0.001 -0.002 0.002 0.001 -0.001 -0.001

22.21 28.47 30.34 21.06

22.21 28.47 30.10 22.62

22.28 28.17 29.94 22.23

23.12

24.21

24.21

30.41 29.04

30.26

-0.240 -0.043 -0.110 -0.279

0.004 0.000 0.005 0.066

0.004 0.000 0.000 0.030

0.004 0.000 0.000 0.017

0.002

30.09 24.35

18.31 28.80 17.30

18.31 31.01 18.53

18.35 31.22 18.83

19.02 28.74 20.23

29.06 20.80

26.78 21.96

-0.051 -0.051 -0.052 -0.065 0.001 -0.236 -0.223 -0.252 -0.298 -0.315 -0.319 -0.351 0.018 -0.346 -0.214 -0.299 -0.243 -0.101 -0.142 0.014

0.001 0.004 0.004

0.001 0.004 0.008

0.003 0.005 0.004

0.005 0.000

0.008 0.001

0.009

20.23 16.31

22.86 17.85

23.68 18.20

23.99 19.56

-0.094 -0.014 -0.038 -0.075 0.004 -0.277 -0.251 -0.283 -0.209 -0.180 -0.134 -0.095 0.028

0.007 0.012

0.012 0.008

0.009 0.004

0.002

0.002

0.002

24.09 21.64 32.43 15.60

24.17 21.40 29.47 15.60

24.36 20.64 28.83 15.71

26.18 22.17 29.26 17.21

27.84 24.23 28.82

-0.424 -0.247 -0.302 -0.195

-0.416 -0.241 -0.249 -0.195

-0.281 -0.218 -0.277 -0.193

-0.138 -0.062 -0.172 0.081 -0.160 -0.024 -0.160

0.051 0.050 0.024 0.007

0.027 0.022 0.008 0.007

0.014 0.014 0.006 0.007

0.002 0.000 0.004 -0.001 0.001 0.004 0.004

18.25 28.27 46.56 34.63 20.45 17.57 35.51 25.56 24.38

18.42 27.99 46.34 36.41 20.45 17.54 36.26 29.59 26.13

18.94 27.74 46.30 35.78 20.39 17.43 37.55 30.01 25.20

19.40 28.00 45.34 35.69 20.18 17.51 37.58 29.90 24.53

19.35 28.45 44.15 35.64 20.41 18.02 38.76 29.55 25.09

-0.418 -0.083 -0.246 -0.164 -0.311 -0.222 -0.301 -0.263 -0.185

-0.294 0.008 -0.291 -0.192 -0.311 -0.070 -0.251 -0.206 -0.206

-0.274 0.006 -0.291 -0.194 -0.302 -0.013 -0.156 -0.246 -0.182

-0.207 0.009 -0.263 -0.136 -0.196 0.007 -0.131 -0.186 -0.140

0.026 0.005 -0.196 0.005 -0.081 0.018 -0.037 0.004 0.016 -0.162 0.011 0.015 0.014

0.007 0.000 0.004 0.003 0.004 0.004 0.007 0.003 0.008

0.004 0.000 0.003 0.003 0.004 0.001 0.004 0.003 0.005

0.001 0.000 0.002 0.000 0.003 0.000 0.002 0.002 0.002

0.001 0.000 0.001 0.001 0.002 0.000 0.001 0.001 0.001

36.19 13.95 33.08

35.61 13.95 35.03

35.38 14.01 34.90

37.37 15.18 34.22

35.70

0.001

34.10

34.07

28.48 17.77 21.03 42.26

28.59 17.77 22.30 44.36

28.62 17.97 21.03 42.90

27.44 21.23 22.03 41.96

27.64

27.64

23.16 39.62

23.16 40.52

21.15

21.89

19.35 28.60 42.61 35.33 19.74 17.70 38.72 29.55 24.75

24.05

23.89 30.92

23.44

26.69

21.36

42.61 35.21 19.82 39.40

-0.274 -0.097 -0.127 -0.311 -0.115 -0.158 -0.190 -0.266 -0.319 -0.282 -0.232 -0.232 -0.331

-0.240 -0.043 -0.004 -0.184

-0.248 -0.168 -0.194 -0.351 -0.120 -0.159 -0.188 -0.258 -0.294 -0.248 -0.229 -0.217 -0.317

-0.192 -0.178 -0.179 -0.269 -0.157 -0.155 -0.161 -0.141 -0.211 -0.227 -0.224 -0.126 -0.222

-0.156 -0.104 -0.080 -0.167 -0.164 -0.131 -0.097 -0.141 -0.167 0.059 -0.144

0.107

-0.238 -0.199 -0.102 -0.102 -0.030 0.007 0.000 0.016 0.004 -0.182 -0.133 0.129

-0.077 0.032 -0.196 -0.048 -0.145 0.006 -0.148 -0.096 -0.065

-0.077 0.031 -0.191 -0.067 -0.047 0.000 -0.153 -0.096 -0.076

0.000

0.001

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

0.002 0.003 0.003

0.002

0.001 0.006

0.001

0.000

0.000

0.002 0.004

0.002

0.001

0.002

0.002

0.000 0.000 0.000 0.005 -0.002

0.001 0.000 0.005 0.003 0.001 0.000 0.001 0.001 0.002

0.005 0.001 0.001 0.001

35.09

-0.275 -0.226 -0.234 -0.143 0.143 -0.170 -0.170 -0.168 -0.147 -0.036 -0.060 -0.070 -0.060 -0.018 -0.010 0.023

0.040 0.007 0.015

0.012 0.007 0.005

0.008 0.007 0.005

0.003 0.003 0.001

39.59

-0.327 -0.271 -0.090 -0.146

0.009 0.011 0.022 0.010

0.009 0.011 0.017 0.004

0.005 0.010 0.018 0.003

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

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

-0.241 -0.271 -0.081 -0.185

-0.245 -0.276 -0.164 -0.130

-0.166 -0.104 -0.104 -0.322 -0.172 -0.072 -0.072 -0.160 -0.032 0.187 0.387

0.002

0.001

0.000


01.10.2012

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

At The Money Implied Volatilities by Terms ATM3 Ref

Dividend Yield

Next ExDividend Date

4.85

6.19%

25.04.2013

28.04

30.25

29.69

29.45

Financials

27.14

4.05%

11.04.2013

54.12

54.12

54.23

55.54

Health Care

123.80

3.03%

22.03.2013

27.57

26.40

25.59

28.34

SUBSEA 7 SA

Energy

134.80

2.12%

25.06.2013

33.60

33.60

33.59

33.51

SUEDZUCKER AG

Consumer Staples

27.58

2.90%

02.08.2013

22.34

21.84

22.87

FR0010613471

SUEZ ENVIRONNEMENT CO

Utilities

8.81

7.49%

27.05.2013

30.76

31.03

#N/A N/A

SULZER AG-REG

Industrials

SE0000112724

SVENSKA CELLULOSA AB-B SHS

Consumer Staples

121.90

3.77%

08.04.2013

21.80

20.20

SHBA SS Equity

SE0000193120

SVENSKA HANDELSBANKEN-A SHS

UHR VX Equity

CH0012255151

Stoxx 600 Index

Ticker

ISIN

Name

GICS_SECTOR_NAME

STERV FH Equity FI0009005961

STORA ENSO OYJ-R SHS

Materials

STB NO Equity

NO0003053605

STOREBRAND ASA

STMN SE Equity

CH0012280076

STRAUMANN HOLDING AG-REG

SUBC NO Equity

LU0075646355

SZU GY Equity

DE0007297004

SEV FP Equity SUN SE Equity SCAB SS Equity

ATM3 ATM3 ATM3 ATM3 ATM3 ATM3 ATM3 Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M 30.72

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D 60D 90D 6M 12M 18M 24M 30D 60D 90D 6M 12M 18M 24M -0.081 -0.104 -0.148 -0.129 -0.048

0.029

0.002

0.003

-0.242 -0.242 -0.241 -0.223

0.005

0.005

0.004 -0.003

-0.133 -0.062 -0.061 -0.052 -0.023 -0.035

0.005

0.001

0.000

0.002 0.001

-0.242 -0.242 -0.236 -0.156

0.001

28.14

27.73

0.003

0.003

0.002

0.000

23.34

24.02

24.81

25.49

-0.203 -0.180 -0.213 -0.142 -0.051 -0.043 -0.024 0.023

0.005

0.002

0.002

0.000

0.001 -0.001 -0.002

0.001

31.24

30.23

29.84

29.24

27.74

-0.223 -0.247 -0.248 -0.194 -0.066 -0.107 -0.019 0.021

0.004

0.004

0.001

0.002

20.21

21.11

21.43

-0.228 -0.076 -0.113 -0.138 0.083

0.043

0.015

0.008

0.004

0.000

-0.290 -0.294 -0.277 -0.222 0.066

0.003

0.006

0.002

0.002

#N/A N/A

Financials

247.10

4.15%

27.03.2013

18.13

19.30

19.11

21.78

22.91

0.041

0.019

0.012

0.005 -0.001

SWATCH GROUP AG/THE-BR

Consumer Discretionary

382.20

1.75%

21.05.2013

24.34

24.19

24.28

25.66

27.32

-0.267 -0.199 -0.250 -0.207 -0.126 -0.120 -0.116 0.014

0.004

0.005

0.003

0.001

SWEDA SS Equity SE0000242455

SWEDBANK AB - A SHARES

Financials

124.20

4.75%

28.03.2013

22.79

23.76

23.66

25.02

25.08

-0.203 -0.246 -0.291 -0.228 0.080

0.044

0.020

0.012

0.003

0.000

SWMA SS Equity SE0000310336

SWEDISH MATCH AB

Consumer Staples

272.00

2.76%

03.05.2013

18.88

21.01

20.18

20.91

23.65

-0.106 -0.068 -0.044 0.012

0.019

0.004

0.002

0.000 -0.002

SLHN VX Equity

CH0014852781

SWISS LIFE HOLDING AG-REG

Financials

114.10

3.94%

24.04.2013

27.32

27.95

27.58

27.23

27.05

27.65

28.49

-0.149 -0.198 -0.203 -0.164 -0.081 -0.084 -0.083 0.021

0.009

0.005

0.003

0.002

0.002

0.002

SPSN SE Equity

#N/A N/A

SWISS PRIME SITE-REG

Financials

#N/A N/A

SREN VX Equity

CH0126881561

SWISS RE AG

Financials

61.20

5.39%

19.04.2013

18.33

19.54

19.49

20.81

21.60

21.21

21.47

-0.211 -0.261 -0.289 -0.233 -0.140 -0.103 -0.075 0.029

0.015

0.010

0.005

0.003

0.003

0.004

SCMN VX Equity

CH0008742519

SWISSCOM AG-REG

Telecommunication Services 379.30

5.80%

12.04.2013

12.76

13.36

13.21

13.50

14.97

14.54

14.51

0.094 -0.085 -0.210 -0.171 -0.084 -0.089 -0.098 0.014

0.008

0.007

0.005

0.002

0.002

0.003

SYDB DC Equity

DK0010311471

SYDBANK A/S

Financials

108.60

1.38%

15.03.2013

SY1 GY Equity

DE000SYM9999

SYMRISE AG

Materials

26.69

2.62%

16.05.2013

23.22

26.56

26.34

26.60

27.11

28.04

28.59

-0.185 -0.063 -0.059 -0.076 -0.046 -0.058 -0.063 0.021

0.005

0.004

0.001

0.001

0.001

0.001

SYNN VX Equity

CH0011037469

SYNGENTA AG-REG

Materials

354.80

2.42%

22.04.2013

18.31

19.66

19.53

20.38

21.19

21.00

21.20

-0.573 -0.366 -0.319 -0.234 -0.137 -0.117 -0.104 0.018

0.010

0.009

0.003

0.002

0.001

0.001

SYST VX Equity

US87162M4096

SYNTHES INC-144A/REGS

#N/A N/A

#N/A N/A

TATE LN Equity

GB0008754136

TATE & LYLE PLC

Consumer Staples

669.00

13.99

13.99

14.21

17.04

-0.155 -0.155 -0.150 -0.086

0.007

0.007

0.007

0.002

TW/ LN Equity

GB0008782301

TAYLOR WIMPEY PLC

Consumer Discretionary

TDC DC Equity

DK0060228559

TDC A/S

TEC FP Equity

FR0000131708

TECHNIP SA

Energy

88.27

0.002

0.001

0.001

0.001

TRE SQ Equity

ES0178165017

TECNICAS REUNIDAS SA

Energy

TEL2B SS Equity SE0000314312 TCY LN Equity TIT IM Equity

27.15

27.39

0.089

04.03.2013 3.96%

28.11.2012

55.90

1.32%

17.04.2013

Telecommunication Services 42.27

10.88%

08.03.2013

1.90%

09.05.2013

29.15

29.15

29.27

30.88

32.04

30.41

29.95

-0.246 -0.246 -0.242 -0.182 -0.134 -0.050 0.002

0.005

0.005

0.005

36.48

3.67%

21.01.2013

33.80

33.27

32.79

31.36

30.77

30.56

30.61

-0.126 -0.140 -0.168 -0.104 -0.092 -0.094 -0.099 0.000

0.000

0.000 -0.001 -0.002 -0.002 -0.002

TELE2 AB-B SHS

Telecommunication Services 118.70

5.69%

16.05.2013

21.61

19.91

20.31

22.49

24.57

-0.348 -0.286 -0.238 -0.129 0.059

0.053

0.027

0.011

0.006 -0.001

GB00B282YM11

TELECITY GROUP PLC

Information Technology

IT0003497168

0.82%

10.04.2013

TELECOM ITALIA SPA

Telecommunication Services 0.78

5.50%

20.05.2013

33.85

35.67

36.09

35.24

36.97

32.83

33.28

-0.206 -0.225 -0.242 -0.155 0.029 -0.019 -0.087 0.023

0.004

0.002

0.001 -0.001 0.000

0.001

ERICB SS Equity SE0000108656

ERICSSON LM-B SHS

Information Technology

917.50

4.52%

02.05.2013

30.19

34.55

32.93

31.94

34.10

37.53

37.53

-0.226 -0.206 -0.203 -0.127 -0.108 0.000

0.028

0.005

0.003

0.001 -0.003 0.000

0.000

TEF SQ Equity

ES0178430E18

TELEFONICA SA

Telecommunication Services 10.44

07.11.2013

29.49

30.31

30.20

30.43

30.96

31.09

32.58

-0.163 -0.226 -0.193 -0.227 -0.256 -0.169 -0.013 0.002

0.001

0.001

0.001

0.002

TKA AV Equity

AT0000720008

TELEKOM AUSTRIA AG

Telecommunication Services 5.59

0.89%

23.05.2013

30.07

30.45

30.14

29.42

29.40

31.45

0.322

0.477

0.039

0.014

0.008

0.000

0.003 -0.001

TNET BB Equity

BE0003826436

TELENET GROUP HOLDING NV

Telecommunication Services 34.95

12.16%

27.08.2013

13.18

12.20

12.51

14.22

18.07

18.07

-0.623 -0.340 -0.266 -0.093 -0.004 -0.004

0.021

0.013

0.007

0.003

0.001

TEL NO Equity

NO0010063308

TELENOR ASA

Telecommunication Services 112.70

5.15%

17.05.2013

21.47

22.70

23.58

22.00

22.23

-0.550 -0.367 -0.274 -0.104 -0.146

0.048

0.022

0.010

0.002

0.002

RCF FP Equity

FR0000051807

TELEPERFORMANCE

Industrials

22.17

2.48%

03.06.2013

39.03

38.87

38.94

38.93

39.07

38.33

0.002

0.000

0.000

0.000

0.000

TLSN SS Equity

SE0000667925

TELIASONERA AB

Telecommunication Services 47.69

6.81%

04.04.2013

21.39

18.86

18.45

18.86

17.55

17.55

0.065

0.043

0.028

0.017 -0.002 -0.002 -0.002

TEMN SE Equity

CH0012453913

TEMENOS GROUP AG-REG

Information Technology

14.40

48.11

48.13

47.31

48.07

47.47

47.59

0.003

0.002

0.001

0.000

0.001

TEN IM Equity

LU0156801721

TENARIS SA

Energy

16.14

2.40%

19.11.2012

24.76

27.20

27.03

28.24

28.61

-0.255 -0.253 -0.223 -0.163 -0.195

0.012

0.005

0.004

0.002

0.002

TRN IM Equity

IT0003242622

TERNA SPA

Utilities

2.94

6.46%

19.11.2012

17.58

18.63

18.33

19.08

16.87

16.87

-0.193 -0.273 -0.095 -0.163 -0.339 -0.339

0.030

0.011

0.016

0.001

0.004

0.004

TSCO LN Equity

GB0008847096

TESCO PLC

Consumer Staples

332.40

4.44%

10.10.2012

22.60

19.49

19.68

19.73

20.50

19.64

-0.166 -0.105 -0.193 -0.171 -0.102 -0.079 -0.045 0.004

0.005

0.005

0.004

0.001

0.002

0.002

TGS NO Equity

NO0003078800

TGS NOPEC GEOPHYSICAL CO ASA

Energy

189.40

3.43%

05.06.2013

38.70

38.70

38.55

36.68

-0.181 -0.181 -0.181 -0.186

0.001

0.001

0.000 -0.001

HO FP Equity

FR0000121329

THALES SA

Industrials

26.94

3.34%

28.05.2013

21.42

21.98

22.20

23.40

23.81

22.88

22.72

-0.132 -0.173 -0.231 -0.196 -0.104 -0.077 -0.061 0.021

0.005

0.004

0.002

0.002

0.000

0.000

TKA GY Equity

DE0007500001

THYSSENKRUPP AG

Materials

16.64

2.40%

21.01.2013

39.09

38.30

37.91

36.42

36.93

37.35

36.49

-0.212 -0.243 -0.218 -0.138 -0.110 -0.083 -0.057 0.014

0.007

0.005

0.003

0.001

0.001

0.001

TNTE NA Equity

NL0009739424

TNT EXPRESS NV

Industrials

8.10

1.79%

11.04.2013

37.55

38.48

40.38

40.38

40.38

40.38

40.38

-0.660 -0.718 -0.787 -0.787 -0.787 -0.787 -0.787 0.020

0.005 -0.002 -0.002 -0.002 -0.002 -0.002

TOD IM Equity

IT0003007728

TOD'S SPA

Consumer Discretionary

86.40

3.18%

20.05.2013

TOP DC Equity

DK0010259530

TOPDANMARK A/S

Financials

FP FP Equity

FR0000120271

TOTAL SA

Energy

38.95

6.09%

18.03.2013

20.41

20.56

20.55

21.61

22.03

19.10

18.04

-0.245 -0.327 -0.346 -0.252 -0.163 -0.016 -0.108 0.024

0.010

0.005

0.004

0.002 -0.001 0.002

TPK LN Equity

GB0007739609

TRAVIS PERKINS PLC

Industrials

1052.00

2.32%

01.05.2013

TRELB SS Equity SE0000114837

TRELLEBORG AB-B SHS

Industrials

74.60

3.69%

22.04.2013

32.37

32.91

31.42

31.70

32.10

-0.595 -0.162 -0.245 -0.155 0.037

0.048

0.006

0.007

0.002

0.000

TT/ LN Equity

GB00B1Z7RQ77

TUI TRAVEL PLC

Consumer Discretionary

230.10

5.13%

06.03.2013

TLW LN Equity

GB0001500809

TULLOW OIL PLC

Energy

1386.00

0.97%

17.04.2013

27.38

27.38

27.40

27.88

-0.150 -0.150 -0.150 -0.155

0.003

0.003

0.003

0.003

UBM LN Equity

JE00B2R84W06

UBM PLC

Consumer Discretionary

711.00

4.08%

10.04.2013

UBSN VX Equity

CH0024899483

UBS AG-REG

Financials

11.59

1.73%

22.04.2013

30.69

30.82

30.80

30.19

31.30

31.70

-0.377 -0.334 -0.302 -0.231 -0.138 -0.102 -0.059 0.024

0.012

0.007

0.003

0.001

0.001 -0.001

UCB BB Equity

BE0003739530

UCB SA

Health Care

42.86

2.40%

02.05.2013

21.77

23.39

24.07

24.88

26.48

26.48

-0.363 -0.251 -0.196 -0.119 -0.018 -0.018

0.013

0.007

0.004

0.003

0.000

0.000

ULE LN Equity

GB0009123323

ULTRA ELECTRONICS HLDGS PLC

Industrials

1574.00

2.75%

10.04.2013

UMI BB Equity

BE0003884047

UMICORE

Materials

41.22

2.79%

26.04.2013

23.82

24.61

25.08

25.31

26.02

26.02

-0.316 -0.268 -0.248 -0.157 -0.043 -0.043

0.016

0.008

0.006

0.003

0.000

0.000

UL FP Equity

FR0000124711

UNIBAIL-RODAMCO SE

Financials

156.35

5.31%

07.05.2013

16.06

17.75

18.56

20.86

21.05

21.05

21.05

-0.279 -0.207 -0.304 -0.242 -0.061 -0.061 -0.061 0.023

0.005

0.007

0.002 -0.001 -0.001 -0.001

UCG IM Equity

IT0004781412

UNICREDIT SPA

Financials

3.32

2.26%

20.05.2013

46.18

47.40

47.85

46.74

46.76

46.71

47.94

-0.332 -0.379 -0.328 -0.300 -0.253 -0.331 -0.403 0.010

0.004

0.003

0.002

0.001

0.001

0.000

UNA NA Equity

NL0000009355

UNILEVER NV-CVA

Consumer Staples

27.69

3.60%

07.11.2012

14.43

16.24

16.66

17.10

17.57

17.99

17.94

-0.173 -0.246 -0.300 -0.202 -0.100 -0.092 -0.060 0.033

0.012

0.008

0.005

0.001

0.002

0.001

ULVR LN Equity

GB00B10RZP78

UNILEVER PLC

Consumer Staples

2277.00

3.50%

07.11.2012

15.36

15.36

15.43

16.52

16.90

16.90

-0.316 -0.316 -0.309 -0.217 -0.174 -0.174

0.008

0.008

0.007

0.005

0.004

0.004

UBI IM Equity

IT0003487029

UBI BANCA SCPA

Financials

2.96

2.36%

20.05.2013

42.40

44.59

45.32

44.64

44.04

44.04

-0.323 -0.308 -0.278 -0.241 -0.194 -0.194

0.010

0.001

0.001

0.001

0.002

0.002

UTDI GY Equity

DE0005089031

UNITED INTERNET AG-REG SHARE

27.51

27.26

-0.220 -0.237 -0.316 -0.184 -0.118 -0.117 -0.113 0.026

0.004

0.001

0.001

UU/ LN Equity

GB00B39J2M42

0.145

59.70

0.130 -0.008 -0.089 0.330

-0.057 -0.003 0.005 17.55

19.41

0.009

0.059

0.064

-0.291 -0.285 -0.214 -0.193 0.232

0.232

-0.034 -0.054 -0.047 -0.013 0.004

0.004

0.232

0.001 -0.001 0.001 0.001 0.001

1138.00

32.77

Information Technology

15.79

1.90%

03.06.2013

19.06

20.93

22.30

24.42

UNITED UTILITIES GROUP PLC

Utilities

724.50

4.72%

12.12.2012

25.14

25.14

25.06

23.99

UPM1V FH Equity FI0009005987

UPM-KYMMENE OYJ

Materials

8.77

6.84%

08.04.2013

28.82

30.76

30.67

31.19

31.96

FR FP Equity

FR0000130338

VALEO SA

Consumer Discretionary

35.90

3.98%

27.06.2013

38.68

38.68

38.65

38.31

37.94

37.94

VATN SE Equity

CH0014786500

VALIANT HOLDING AG-REG

Financials

82.00

3.90%

24.05.2013

13.97

13.93

13.92

14.02

14.72

14.30

VK FP Equity

FR0000120354

VALLOUREC

Industrials

33.49

2.39%

05.06.2013

38.77

41.19

41.08

41.36

40.91

39.56

VED LN Equity

GB0033277061

VEDANTA RESOURCES PLC

Materials

1041.00

3.45%

14.11.2012

51.23

51.23

51.04

48.45

VIE FP Equity

FR0000124141

VEOLIA ENVIRONNEMENT

Utilities

8.39

8.35%

22.05.2013

33.46

35.16

35.04

35.24

38.20

33.76

VER AV Equity

AT0000746409

VERBUND AG

Utilities

16.09

3.85%

19.04.2013

25.53

26.35

25.55

24.90

25.14

19.65

VWS DC Equity

DK0010268606

VESTAS WIND SYSTEMS A/S

Industrials

40.92

29.04.2013

100.94

96.06

90.47

86.60

77.62

VCT LN Equity

GB0009292243

VICTREX PLC

Materials

1350.00

2.60%

06.02.2013

VIG AV Equity

AT0000908504

VIENNA INSURANCE GROUP AG

Financials

33.00

3.64%

13.05.2013

30.30

27.68

29.10

28.58

28.88

28.93

DG FP Equity

FR0000125486

VINCI SA

Industrials

33.67

5.35%

21.05.2013

29.32

29.50

29.59

29.66

30.74

29.79

29.56

VIS SQ Equity

ES0184262212

VISCOFAN SA

Consumer Staples

36.78

2.85%

24.12.2012

VIV FP Equity

FR0000127771

VIVENDI

Telecommunication Services 15.45

6.47%

06.05.2013

28.91

30.48

29.69

28.35

28.40

30.06

29.78

-0.246 -0.211 -0.204 -0.169 -0.034 0.010

VOD LN Equity

GB00B16GWD56

VODAFONE GROUP PLC

20.43

VOE AV Equity

27.78

AT0000937503

38.87 33.08

0.007

0.004

0.000

0.000

0.000 -0.001

-0.150 -0.139 -0.136 -0.134 -0.045

0.022

0.002

0.001

0.001

0.001

-0.271 -0.271 -0.266 -0.193 -0.119 -0.119

0.002

-0.190 -0.129 -0.059 0.000 -0.002 -0.020

0.145

0.140

0.065

0.002

0.002

0.001

0.001

0.001

0.017

0.008

0.004

0.000

0.000

0.000

0.002

0.002

0.001

0.001

0.003

-0.102 -0.102 -0.109 -0.193

0.000

0.000

0.000

0.001

0.018

0.005

0.003

0.002 -0.001 -0.002 0.001

0.067

0.024

0.016

0.003

0.011

0.018

0.019

0.000 -0.003

0.057

0.008

0.006

0.004

0.002 -0.001

-0.256 -0.266 -0.263 -0.197 -0.101 -0.161 -0.140 0.013

0.005

0.005

0.002

0.001

0.020

0.005

0.004

0.002

0.001 -0.002 -0.002

-0.170 -0.227 -0.190 -0.206 -0.067 -0.084 -0.084 0.008 -0.194 -0.058 -0.155 -0.129 0.410

-0.197 -0.206 -0.230 -0.180 -0.024 0.107

0.201

0.585

-0.385 -0.382 -0.355 -0.247 -0.053 -0.332 -0.218 -0.251 -0.190 0.455

Telecommunication Services 176.10

5.79%

21.11.2012

17.37

17.97

17.60

18.57

20.38

20.34

VOESTALPINE AG

Materials

23.72

4.01%

08.07.2013

28.64

32.28

31.97

30.55

31.21

36.36

VOLKSWAGEN AG-PREF

Consumer Discretionary

141.35

2.65%

19.04.2013

30.01

30.77

31.02

31.76

32.44

31.92

31.37

VOLVB SS Equity SE0000115446

VOLVO AB-B SHS

Industrials

92.85

3.77%

05.04.2013

27.69

29.27

28.75

29.39

30.24

WCH GY Equity

WACKER CHEMIE AG

Materials

49.25

1.95%

17.05.2013

40.15

42.07

40.80

46.08

50.22

37.39

39.11

WRT1V FH Equity FI0009003727

WARTSILA OYJ ABP

Industrials

27.30

3.39%

04.03.2013

WEIR LN Equity

GB0009465807

WEIR GROUP PLC/THE

Industrials

1790.00

2.08%

01.05.2013

MF FP Equity

FR0000121204

WENDEL

Financials

67.10

WHA NA Equity

NL0000289213

WERELDHAVE NV

Financials

WTB LN Equity

GB00B1KJJ408

WHITBREAD PLC

Consumer Discretionary

WIE AV Equity

AT0000831706

WIENERBERGER AG

Industrials

WDH DC Equity

DK0010268440

WILLIAM DEMANT HOLDING

Health Care

519.50

WMH LN Equity

GB0031698896

WILLIAM HILL PLC

Consumer Discretionary

319.00

WIN GY Equity

DE000A0CAYB2

WINCOR NIXDORF AG

Information Technology

WDI GY Equity

DE0007472060

WIRECARD AG

Information Technology

MRW LN Equity

GB0006043169

WM MORRISON SUPERMARKETS

Consumer Staples

WOS LN Equity

JE00B3YWCQ29

WOLSELEY PLC

Industrials

WKL NA Equity

NL0000395903

WOLTERS KLUWER

Consumer Discretionary

WPP LN Equity

JE00B3DMTY01

WPP PLC

Consumer Discretionary

XTA LN Equity

GB0031411001

XSTRATA PLC

Materials

YAR NO Equity

NO0010208051

0.610

0.020

0.011

0.006

0.000

0.018

0.005

0.005

0.004 -0.003

0.006

0.005

0.002

0.001

-0.253 -0.291 -0.244 -0.154 0.132

0.002

0.003

0.004

0.003

0.003

0.016

-0.086 -0.099 -0.141 -0.166 -0.165 -0.174

0.003

0.005

0.004

0.002

0.002

0.001

0.024

0.006

0.004

0.002 -0.001 -0.001 -0.001

0.014

0.014

0.013

0.007

0.060

0.020

0.013

0.003

0.003

0.003

0.003

0.002

34.69

32.52

31.10

35.35

37.35

37.17

20.05

21.01

21.46

21.95

22.64

22.64

31.10.2012

20.77

20.77

20.81

21.26

6.05

1.99%

15.05.2013

31.01

33.36

32.44

32.15

3.42%

01.05.2013

18.83

18.83

18.99

21.20

30.55

3.44%

22.01.2013

30.89

32.61

32.50

33.82

33.40

33.29

33.49

-0.285 -0.243 -0.239 -0.235 -0.196 -0.190 -0.190 0.013

18.20

0.66%

24.06.2013

35.06

34.77

34.96

34.59

34.60

34.78

34.99

-0.074 0.025

282.70

4.32%

15.05.2013

12.87

14.82

15.19

16.33

2709.00

2.32%

10.10.2012

27.88

27.88

27.74

26.05

14.68

4.90%

29.04.2013

17.46

18.53

19.29

20.24

844.50

3.32%

05.06.2013

21.25

21.25

21.33

22.27

981.90

2.71%

01.05.2013

36.47

36.11

36.57

35.78

36.57

32.99

32.66

-0.255 -0.289 -0.272 -0.179 0.027

0.027

0.027

-0.147 -0.147 -0.138 -0.022 0.112

0.185

0.010 -0.112 0.361

0.510

-0.089 -0.089 -0.089 -0.083

YARA INTERNATIONAL ASA

Materials

289.80

2.59%

10.05.2013

32.27

32.72

32.76

YTY1V FH Equity FI0009800643

YIT OYJ

Industrials

15.22

4.60%

14.03.2013

33.51

32.79

32.82

ZOT SQ Equity

ES0184933812

ZARDOYA OTIS SA

Industrials

9.22

5.42%

12.12.2012

ZC FP Equity

FR0000125684

ZODIAC AEROSPACE

Industrials

77.42

1.94%

14.01.2013

28.40

29.84

29.54

30.52

31.61

30.98

ZURN VX Equity

CH0011075394

ZURICH INSURANCE GROUP AG

Financials

238.00

7.35%

04.04.2013

18.27

18.27

18.11

18.86

20.68

19.44

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

0 #N/A Invalid Security

#N/A Invalid Security

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

#N/A Invalid Security

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

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

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

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

35.80

21.00

0.018

0.007

0.004

15.04.2013

34.99

0.001

0.013

07.06.2013

21.48

0.002

0.001

0.036

2.40%

21.17

0.002

0.000

-0.503 -0.562 -0.667 -0.838 -1.033 -1.332 -1.576 0.008

7.42%

21.60

0.000

0.008

2.08%

28.80

0.002

0.007

0.066

0.565

43.10

33.60

0.009

-0.279 -0.262 -0.264 -0.214 -0.144 -0.118 -0.090 0.013

2294.00

22.64

0.001

-0.271 -0.205 -0.208 -0.176 -0.128 -0.124 -0.092 0.009

-0.190 -0.005 -0.202 -0.147 0.432

VOW3 GY Equity DE0007664039 DE000WCH8881

0.000

0.011

0.007

0.001

0.002

0.005

0.004

0.002

0.006

0.001

0.001

0.000 -0.001 -0.001 -0.001

-0.122 -0.115 -0.110 -0.112

0.002

0.001

0.003

0.003

-0.169 -0.169 -0.162 -0.068

0.036

0.013

0.011

0.004

0.012

0.003

0.004

0.004

0.004

0.002

-0.257 -0.210 -0.280 -0.222 -0.118 -0.092 -0.063 0.031

0.010

0.011

0.004

0.003

0.003

-0.262 -0.262 -0.255 -0.156

0.006

0.006

0.006

0.002

-0.303 -0.177 -0.234 -0.213 -0.062 -0.068 -0.067 0.008

0.007

0.005

0.002 -0.002 0.001

0.000

-0.194 -0.291 -0.488 -0.169 -0.144

0.005

0.007

0.019

0.001

0.003

-0.178 -0.125 -0.108

0.010

0.003

0.002

-0.110 -0.224 -0.303 -0.215 -0.176 -0.169

0.006

0.004

0.004

0.001

0.000

0.001

-0.429 -0.308 -0.307 -0.255 -0.118 -0.085 -0.044 0.029

0.015

0.010

0.004

0.002

0.002

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

0.001

0.002


STOXX 600 Index - Dividends and Implied Volatility Surfaces Parameters