Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/quantinuum-inc" target="_blank" data-smartkarma-citation="entities:49399:1" rel="noopener">Quantinuum (QNT US)</a> will be added to the BlueStar Machine Learning and Quantum Computing Index after the close on 18 September.</li>
<li>Estimated one-way turnover is 9.1% resulting in a round-trip trade of US$1bn. There are a few stocks with decent ADV to trade.</li>
<li>There are inflows for <a href="https://www.smartkarma.com/entities/honeywell-aerospace-inc" target="_blank" data-smartkarma-citation="entities:50307:1" rel="noopener">Honeywell Aerospace</a>, <a href="https://www.smartkarma.com/entities/honeywell-international-inc" target="_blank" data-smartkarma-citation="entities:16765:1" rel="noopener">Honeywell International</a> and <a href="https://www.smartkarma.com/entities/on-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:2729:1" rel="noopener">On Semiconductor</a> and outflows for <a href="https://www.smartkarma.com/entities/arqit-quantum-inc" target="_blank" data-smartkarma-citation="entities:35381:1" rel="noopener">Arqit Quantum</a>, <a href="https://www.smartkarma.com/entities/horizon-quantum-holdings-ltd" target="_blank" data-smartkarma-citation="entities:36891:1" rel="noopener">Horizon Quantum Holdings</a> and <a href="https://www.smartkarma.com/entities/global-unichip-corp" target="_blank" data-smartkarma-citation="entities:10305:1" rel="noopener">Global Unichip</a>.</li>
</ul>



Quantinuum (QNT US) will be added to the BlueStar Machine Learning and Quantum Computing Index after the close on 18 September.
Estimated one-way turnover is 9.1% resulting in a round-trip trade of US$1bn. There are a few stocks with decent ADV to trade.
There are inflows for Honeywell Aerospace, Honeywell International and On Semiconductor and outflows for Arqit Quantum, Horizon Quantum Holdings and Global Unichip.


BlueStar Machine Learning and Quantum Computing Index: 1 Add & US$1bn Trade

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Horizon Quantum Holdings / Index Rebalance

<ul>
<li>The BStar Machine Learning and Quantum Computing Index represents the largest and most liquid global companies in the field of ML and Quantum computing.</li>
<li>There will be five ADDs for the index in June 2026 and a turnover of 20% of the index, which is huge.  US$1.175bn one-way.</li>
<li>The equal-weighting scheme produces interesting flows for the index. We see US$64+mm to trade for each ADD, but so much other movement means LOTS of capping/funding trades.</li>
</ul>


The BStar Machine Learning and Quantum Computing Index represents the largest and most liquid global companies in the field of ML and Quantum computing.
There will be five ADDs for the index in June 2026 and a turnover of 20% of the index, which is huge.  US$1.175bn one-way.
The equal-weighting scheme produces interesting flows for the index. We see US$64+mm to trade for each ADD, but so much other movement means LOTS of capping/funding trades.


[Quiddity Index] BStar ML and Quantum Computing Index Jun26 Rebal Results: 5 ADDs; US$1.18bn One Way

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>
Pioneering Quantum-Safe Encryption: Arqit is a pure-play software company providing a unique symmetric key agreement platform designed to protect against current and future cyber threats, including those from quantum computers. Its Platform-as-a-Service (PaaS) model targets a vast addressable market of connected devices.</li>
 <li>
High-Growth, Pre-Revenue Stage Risk: The company is in the early stages of commercialization with minimal current revenue, significant cash burn, and a reliance on a small number of large contracts. This presents considerable execution and financing risks for investors.</li>
 <li>
Strategic Validation Through Key Partnerships: Arqit has secured significant contracts and partnerships with major entities, including the U.S. Department of Defense, a global tier 1 telecom operator, Dell, and Fortinet. These collaborations validate its technology and provide crucial channels to market.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Pioneering Quantum-Safe Encryption: Arqit is a pure-play software company providing a unique symmetric key agreement platform designed to protect against current and future cyber threats, including those from quantum computers. Its Platform-as-a-Service (PaaS) model targets a vast addressable market of connected devices.
  
High-Growth, Pre-Revenue Stage Risk: The company is in the early stages of commercialization with minimal current revenue, significant cash burn, and a reliance on a small number of large contracts. This presents considerable execution and financing risks for investors.
  
Strategic Validation Through Key Partnerships: Arqit has secured significant contracts and partnerships with major entities, including the U.S. Department of Defense, a global tier 1 telecom operator, Dell, and Fortinet. These collaborations validate its technology and provide crucial channels to market.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Arqit Quantum (ARQQ US) - Apr 2026

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Semis strength continued in June, offsetting declines nearly everywhere else and leaving the WTR AI Index flat. </li><li>The WTR AI Index slipped 0.1% M/M, above the S&amp;P 500 (down 1.1%) and the Nasdaq (down 0.2%) but below the Russell 2000 (up 3.6%).</li><li>Semiconductors (22% of the index) rose 16.8%, accelerating from the 12.8% gain in May and retaking sector leadership from Software, which swung from +28.0% in May to a 3.7% decline. </li></ul>

Semis strength continued in June, offsetting declines nearly everywhere else and leaving the WTR AI Index flat. The WTR AI Index slipped 0.1% M/M, above the S&amp;P 500 (down 1.1%) and the Nasdaq (down 0.2%) but below the Russell 2000 (up 3.6%).Semiconductors (22% of the index) rose 16.8%, accelerating from the 12.8% gain in May and retaking sector leadership from Software, which swung from +28.0% in May to a 3.7% decline. 

AI Flow Index : Sailing a Sea of Companies in AI Download as PDF | LinkedInX

SPAC Deep Dive, subSPAC

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SPAC Deep Dive

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<ul><li>The recent invasion of Ukraine by Russia was preceded by a wave of cyberattacks that took down the country’s Websites, Wiped Data, and Blocked Access to Key Communication Tools.</li><li>Cryptography and Encryption standards that are currently used industry-wide can be easily brute-forced by quantum computers</li><li>Arqit aims to combat the rise in quantum computing by offering a quantum encryption platform as a service.</li></ul>

The recent invasion of Ukraine by Russia was preceded by a wave of cyberattacks that took down the country’s Websites, Wiped Data, and Blocked Access to Key Communication Tools.Cryptography and Encryption standards that are currently used industry-wide can be easily brute-forced by quantum computersArqit aims to combat the rise in quantum computing by offering a quantum encryption platform as a service.

The Battle Between Quantum Supremacy and Encryption

United Kingdom

Arqit Quantum Inc. provides quantum-safe encryption software and cybersecurity services. Its primary product, SKA-Platform, offers a platform as a service for creating unbreakable software encryption keys to secure communication links and data against current and future cyberattacks, including those from quantum computers. The company is headquartered in London, United Kingdom, and was founded in 2017.

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Arqit Quantum (ARQQ US)

BlueStar Machine Learning and Quantum Computing Index: 1 Add & US$1bn Trade

There is 1 add for BQTUM in Sep. Estimated one-way turnover is 9.1% resulting in a round-trip trade of US$1bn. There are a few stocks with multiple...

Brian Freitas

[Quiddity Index] BStar ML and Quantum Computing Index Jun26 Rebal Results: 5 ADDs; US$1.18bn One Way

The Bstar ML And Quantum Computing Index gets rebalanced in June and Dec. This time it sees a whopping 22% turnover (one-way) against its nearly...

Travis Lundy

Primer: Arqit Quantum (ARQQ US) - Apr 2026

Pioneering Quantum-Safe Encryption: Arqit is a pure-play software company providing a unique symmetric key agreement platform designed to...

αSK Primers

AI Flow Index : Sailing a Sea of Companies in AI Download as PDF | LinkedInX

The WTR AI Index slipped 0.1% M/M, above the S&P 500 (down 1.1%) and the Nasdaq (down 0.2%) but below the Russell 2000 (up 3.6%).

Water Tower Research

The Battle Between Quantum Supremacy and Encryption

The recent invasion of Ukraine by Russia was preceded by a wave of cyberattacks that took down the country’s Websites, Wiped Data, and Blocked...

subSPAC

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