NEWS UPDATE
TRADING VENUES
Cboe expands US Treasury volatility tracking capabilities as US election looms
As part of its expansion , Cboe has begun publishing intraday values for its 20 + Year Treasury Bond ETF Volatility Basis Point Index .
Cboe has moved to expand its intraday Treasury volatility tracking capabilities in the US in the build-up to upcoming regime shifts on the horizon .
The expansion will mean that the exchange will publish intraday values for its 20 + Year Treasury Bond ETF Volatility Basis Point Index ( VIXTLT ).
The index leverages Cboe ’ s proprietary VIX Index methodology and provides participants with the ability to track 30-day expected volatility in the US Treasury market in real-time .
Cboe confirmed the expansion of its monitoring capabilities would support participants in the lead up to the regime shift expected to be caused by the election in the US in November , alongside continued interest rate led volatility in the region .
“ Market participants have long sought a VIX-like gauge for US Treasury volatility , and with the US election and the Federal Reserve ’ s expected monetary policy shift looming , interest in this asset class remains high ,” said Rob Hocking , head of product innovation at Cboe .
In light of rising client demand , Cboe confirmed the VIXTLT index is available in basis point volatility terms and aims to provide an absolute measure of volatility . The index is calculated using listed options on the iShares 20 + Year Treasury Bond ETF ( TLT ).
SELL-SIDE
Bernstein opens new Dubai office as part of MENA expansion
William Ashworth , Bernstein ' s co-head of Asia cash trading , and Yasmine Rassem , Bernstein ' s director of equity sales , have been selected to build out the franchise .
Bernstein has moved to expand into the Middle East and North Africa ( MENA ) region for the first time with a new Dubai office .
The firm called the launch “ an important milestone ” for its business as it will enable greater penetration in the fast-growing Middle Eastern markets .
William Ashworth and Yasmine Rassem have been selected to build out the franchise from Bernstein ’ s Hong
Kong and London offices , respectively . Ashworth has been appointed managing director , global execution sales and Rassem has been appointed director , global research sales .
Bernstein currently covers MENA listed equities in the energy , financials and logistics sectors . The firm confirmed that it intends to expand this coverage for the benefit of corporate and investor clients .
The new office joins Societe Generale ’ s existing franchise that has been operating in the Middle East region since 1997 .
The news follows the recent collaboration between AllianceBernstein and Societe Generale which saw the launch of a new joint venture in April focusing on global cash equities and equity research .
Named Bernstein , the joint venture was originally announced in November 2022 .
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