Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>September brings heavy index rebalancing activity. <a href="https://www.smartkarma.com/entities/pop-mart-international-group-l" target="_blank" data-smartkarma-citation="entities:29016:1" rel="noopener">Pop Mart (9992 HK)</a> will join both the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index (HSI INDEX)</a> and the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">Hang Seng China Enterprises Index (HSCEI INDEX)</a>.</li>
<li>
The Fed is widely expected to cut rates and Asia-Pac peers (BoJ, RBA, RBI) are also meeting.</li>
<li>
Why Read: Plan ahead and take into account known market events when making investment and trading decision.</li>
</ul>


September brings heavy index rebalancing activity. Pop Mart (9992 HK) will join both the Hang Seng Index (HSI INDEX) and the Hang Seng China Enterprises Index (HSCEI INDEX).

The Fed is widely expected to cut rates and Asia-Pac peers (BoJ, RBA, RBI) are also meeting.

Why Read: Plan ahead and take into account known market events when making investment and trading decision.


Index Changes and Rate Cuts: Key Events in September 2025

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>A new selection methodology will be used for the ASX index family starting from the September 2025 index review. We first wrote about this a couple of months ago (<a href="https://www.smartkarma.com/insights/quiddity-leaderboard-asx-sep25-update-with-new-important-market-consultation-implications" target="_blank" rel="noopener">link</a>).</li>
<li>In this insight, we present our final expectations for ASX 300, 200, 100, 50, and 20 for the September 2025 index rebal event.</li>
<li>We expect one change for ASX 50, three changes for ASX 100, and six changes for ASX 200. Separately, we see 14 ADDs and 11 DELs for ASX 300.</li>
</ul>


A new selection methodology will be used for the ASX index family starting from the September 2025 index review. We first wrote about this a couple of months ago (link).
In this insight, we present our final expectations for ASX 300, 200, 100, 50, and 20 for the September 2025 index rebal event.
We expect one change for ASX 50, three changes for ASX 100, and six changes for ASX 200. Separately, we see 14 ADDs and 11 DELs for ASX 300.


Quiddity Leaderboard ASX Sep25: Methodology Change Confirmed; Good Performance; Final Expectations

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

<ul>
<li>S&amp;P DJI have proposed methodology changes to the S&amp;P/ASX family of indices to enhance representativeness and more quickly reflecting changing market conditions.</li>
<li>The main changes are lowering the minimum float threshold, shortening the market cap calculation period and the liquidity calculation period, and including buffers for additions and deletions.</li>
<li>We currently forecast 47 changes to the S&amp;P/ASX family of indices in September and the short market cap computation period could lead to more change over the next two months.</li>
</ul>


S&amp;P DJI have proposed methodology changes to the S&amp;P/ASX family of indices to enhance representativeness and more quickly reflecting changing market conditions.
The main changes are lowering the minimum float threshold, shortening the market cap calculation period and the liquidity calculation period, and including buffers for additions and deletions.
We currently forecast 47 changes to the S&amp;P/ASX family of indices in September and the short market cap computation period could lead to more change over the next two months.


S&P/ASX Indices: Proposed Methodology Changes & The BIG September Rebalance

Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>The AI trade took the S&P500 and Nasdaq to new highs (again) with markets in Japan and Europe rallying also.</li><li> The Australian market stumbled on Governor Bullock's hawish tone yesterday.</li><li>ASX200 futures are pointing to another day of net weakness.</li></ul>

The AI trade took the S&P500 and Nasdaq to new highs (again) with markets in Japan and Europe rallying also. The Australian market stumbled on Governor Bullock's hawish tone yesterday.ASX200 futures are pointing to another day of net weakness.

Macquarie Group Ltd - The Overnight Report: AI Fuels New Highs

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the September 2025 index rebal event.</li>
<li>Currently, a market consultation is being conducted and there could be several significant changes made to the index selection process.</li>
<li>The official index changes will be announced after the close on Friday 5th September 2025.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the September 2025 index rebal event.
Currently, a market consultation is being conducted and there could be several significant changes made to the index selection process.
The official index changes will be announced after the close on Friday 5th September 2025.


Quiddity Leaderboard ASX Sep25: Exp ADDs Down Vs Exp DELs Since Methodology Change; Time to Reverse?

Australia

DroneShield Limited provides drone detection technology. The Company offers analysis, identification, and alerts solutions. DroneShield serves the detention, airport, government, commercial, and infrastructure sectors.

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DroneShield Ltd (DRO AU)

Index Changes and Rate Cuts: Key Events in September 2025

September packs in index rebalances, quarterly expiries, central bank calls, and Fed drama—keeping markets busy amid a light holiday calendar.

Gaudenz Schneider

Quiddity Leaderboard ASX Sep25: Methodology Change Confirmed; Good Performance; Final Expectations

We have revised our final expectations for the September 2025 index review due to the deletion of Adriatic Metals which was one of our expected...

Janaghan Jeyakumar, CFA

S&P/ASX Indices: Proposed Methodology Changes & The BIG September Rebalance

The market consultation ends in 2 weeks, and the conclusions should be announced soon after that. A lot of the stocks have moved significantly over...

Brian Freitas

Macquarie Group Ltd - The Overnight Report: AI Fuels New Highs

The AI trade took the S&P500 and Nasdaq to new highs (again) with markets in Japan and Europe rallying also. The Australian market stumbled...

FNArena

Quiddity Leaderboard ASX Sep25: Exp ADDs Down Vs Exp DELs Since Methodology Change; Time to Reverse?

We believe the newly proposed methodology would be implemented during the September 2025 index review. The expected ADDs have been underperforming...

Janaghan Jeyakumar, CFA

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