Structured product hedging may be suppressing VIX – BIS

4th March, 2024

Radi Khasawneh
CboePitGIG

Hedging demand from structured product issuers is likely the cause of recent lows in the main US volatility index, which has been a topic of debate in recent months as rising S&P 500 index (SPX) performance has not been reflected in its implied volatility benchmark

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP

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