Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>
India: Index changes for Nifty indices will take place. Multiple option expiries are scheduled, impacting stocks and indices such as the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY 50 Index</a>, and the <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">SENSEX Index</a>.</li>
<li>
Asia-Pacific: Key events include Hong Kong's earnings week and Tokyo CPI release, while Australia reports its Monthly CPI indicator.</li>
<li>
USA: Significant releases include the final Q4 2024 GDP figures and the PCE Price Index, the Fed's preferred inflation gauge.</li>
</ul>



India: Index changes for Nifty indices will take place. Multiple option expiries are scheduled, impacting stocks and indices such as the NIFTY 50 Index, and the SENSEX Index.

Asia-Pacific: Key events include Hong Kong's earnings week and Tokyo CPI release, while Australia reports its Monthly CPI indicator.

USA: Significant releases include the final Q4 2024 GDP figures and the PCE Price Index, the Fed's preferred inflation gauge.


Market Movers: Key Dates at a Glance (March 24-30)

<ul>
<li>Central banks globally are making rate decisions, with the Fed holding steady while Sweden, Switzerland, Taiwan, and the UK announce their decisions today.</li>
<li>Mexico and Canada are central banks to watch, with Fitch forecasting both economies to enter recession in 2025 due to their high US trade exposure.</li>
<li>The US's global reciprocal tariffs, set to be revealed on April 2, have significant implications for the global economy, with the potential to influence central bank policies worldwide.</li>
</ul>


Central banks globally are making rate decisions, with the Fed holding steady while Sweden, Switzerland, Taiwan, and the UK announce their decisions today.
Mexico and Canada are central banks to watch, with Fitch forecasting both economies to enter recession in 2025 due to their high US trade exposure.
The US's global reciprocal tariffs, set to be revealed on April 2, have significant implications for the global economy, with the potential to influence central bank policies worldwide.


Central Banks Hold Steady Amid Global Economic Uncertainty

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>
<a href="https://www.smartkarma.com/entities/ramelius-resources-ltd" target="_blank" data-smartkarma-citation="entities:5968:1" rel="noopener">Ramelius Resources (RMS AU)</a> and <a href="https://www.smartkarma.com/entities/spartan-resources-ltd-australi" target="_blank" data-smartkarma-citation="entities:1818:1" rel="noopener">Spartan Resources /Australi (SPR AU)</a> have signed a binding Transaction Implementation Deed to enter into a 'Transformational Combination'.</li>
<li>For each share of <a href="https://www.smartkarma.com/entities/spartan-resources-ltd-australi" target="_blank" data-smartkarma-citation="entities:1818:1" rel="noopener">Spartan Resources (SPR AU)</a> held, shareholders will receive A$0.25 in cash and 0.6957 <a href="https://www.smartkarma.com/entities/ramelius-resources-ltd" target="_blank" data-smartkarma-citation="entities:5968:1" rel="noopener">Ramelius Resources (RMS AU)</a> shares, implying a value of A$1.78/share for <a href="https://www.smartkarma.com/entities/spartan-resources-ltd-australi" target="_blank" data-smartkarma-citation="entities:1818:1" rel="noopener">Spartan Resources</a>.</li>
<li>The merger is expected to complete late July/ early August, and the merged entity could be added to the S&amp;P/ASX 100 Index in September.</li>
</ul>



Ramelius Resources (RMS AU) and Spartan Resources /Australi (SPR AU) have signed a binding Transaction Implementation Deed to enter into a 'Transformational Combination'.
For each share of Spartan Resources (SPR AU) held, shareholders will receive A$0.25 in cash and 0.6957 Ramelius Resources (RMS AU) shares, implying a value of A$1.78/share for Spartan Resources.
The merger is expected to complete late July/ early August, and the merged entity could be added to the S&amp;P/ASX 100 Index in September.


Ramelius/Spartan Merger: MergeCo Close to ASX100 Index Inclusion

Index Rebalance

<ul>
<li>There are 7 adds for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-junior-gold-miners-etf" target="_blank" data-smartkarma-citation="entities:32845:1" rel="noopener">VanEck Vectors Junior Gold Miners ETF (GDXJ US)</a> in March. There are plenty of float and capping changes too.</li>
<li>Estimated one-way turnover is 5.3% resulting in a round-trip trade of US$610m. There are 11 stocks with over 1x ADV to trade from passive trackers.</li>
<li>
<a href="https://www.smartkarma.com/entities/spartan-resources-ltd-australi" target="_blank" data-smartkarma-citation="entities:1818:1" rel="noopener">Spartan Resources /Australi (SPR AU)</a> and <a href="https://www.smartkarma.com/entities/ora-banda-mining-ltd" target="_blank" data-smartkarma-citation="entities:2970:1" rel="noopener">Ora Banda Mining (OBM AU)</a> will be added to some of the S&amp;P/ASX indices at the same time, increasing flow and impact.</li>
</ul>


There are 7 adds for the VanEck Vectors Junior Gold Miners ETF (GDXJ US) in March. There are plenty of float and capping changes too.
Estimated one-way turnover is 5.3% resulting in a round-trip trade of US$610m. There are 11 stocks with over 1x ADV to trade from passive trackers.

Spartan Resources /Australi (SPR AU) and Ora Banda Mining (OBM AU) will be added to some of the S&amp;P/ASX indices at the same time, increasing flow and impact.


MV Global Junior Gold Miners Index Rebalance: 7 Adds & Other Changes Lead to US$610m Trade

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a> and <a href="https://www.smartkarma.com/entities/technology-one-ltd" target="_blank" data-smartkarma-citation="entities:1070:1" rel="noopener">Technology One (TNE AU)</a> will be added to the <a href="https://www.smartkarma.com/entities/vaneck-vectors-australian-equal-weight-etf" target="_blank" data-smartkarma-citation="entities:24297:1" rel="noopener">VanEck Vectors Australian Equal Weight ETF (MVW AU)</a> at the close on 21 March.</li>
<li>Surprisingly, there are no deletions from the index. The two inclusions, float changes and capping changes result in a one-way turnover of 5.6% leading to a round-trip trade of A$288m.</li>
<li>There will be huge buying of A$1.2bn in <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a> at the same time from <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> and related index trackers.</li>
</ul>



Sigma Healthcare (SIG AU) and Technology One (TNE AU) will be added to the VanEck Vectors Australian Equal Weight ETF (MVW AU) at the close on 21 March.
Surprisingly, there are no deletions from the index. The two inclusions, float changes and capping changes result in a one-way turnover of 5.6% leading to a round-trip trade of A$288m.
There will be huge buying of A$1.2bn in Sigma Healthcare (SIG AU) at the same time from S&amp;P/ASX 200 (AS51 INDEX) and related index trackers.


MV Australia Equal Weight Index Rebalance: SIG, TNE Added; US$288m Trade

Australia

The S&P/ASX 200 measures the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalization. Representative liquid and tradable, it is widely considered Australia's preeminent benchmark index. The index is float-adjusted. The index was launched in April 2000.

S&P/ASX 200 (AS51 INDEX)

Market Movers: Key Dates at a Glance (March 24-30)

Index changes in India's Nifty indices, key events in Asia-Pacific, and significant releases in the USA impacting stocks and indices globally.

Gaudenz Schneider

Central Banks Hold Steady Amid Global Economic Uncertainty

Reminder. China Mobile (941 HK) will release 2024 results tonight at 19:00h (HK time) and announce their dividend. Large volume traded yesterday in...

Gaudenz Schneider

Ramelius/Spartan Merger: MergeCo Close to ASX100 Index Inclusion

Ramelius and Spartan have announced a merger. Spartan is an inclusion to the AS51 and GDXJ on Friday. Expect short covering in Spartan. There is...

Brian Freitas

MV Global Junior Gold Miners Index Rebalance: 7 Adds & Other Changes Lead to US$610m Trade

7 adds, float and capping changes lead to one-way turnover of 5.3% and a round-trip trade of US$610m. Spartan is also and ASX200 add while OBM is...

Brian Freitas

MV Australia Equal Weight Index Rebalance: SIG, TNE Added; US$288m Trade

Sigma Healthcare and TechnologyOne have been added to the MVMVW index. Surprisingly, no deletions. Round-trip trade is US$288m. There are big...

Brian Freitas

Market Movers: Key Dates at a Glance (March 24-30)

​Index changes in India's Nifty indices, key events in Asia-Pacific, and significant releases in the USA impacting stocks and indices globally.

Gaudenz Schneider

Central Banks Hold Steady Amid Global Economic Uncertainty

Reminder. China Mobile (941 HK) will release 2024 results tonight at 19:00h (HK time) and announce their dividend. Large volume traded yesterday in...

Gaudenz Schneider

Ramelius/Spartan Merger: MergeCo Close to ASX100 Index Inclusion

Ramelius and Spartan have announced a merger. Spartan is an inclusion to the AS51 and GDXJ on Friday. Expect short covering in Spartan. There is...

Brian Freitas

MV Global Junior Gold Miners Index Rebalance: 7 Adds & Other Changes Lead to US$610m Trade

7 adds, float and capping changes lead to one-way turnover of 5.3% and a round-trip trade of US$610m. Spartan is also and ASX200 add while OBM is...

Brian Freitas

MV Australia Equal Weight Index Rebalance: SIG, TNE Added; US$288m Trade

Sigma Healthcare and TechnologyOne have been added to the MVMVW index. Surprisingly, no deletions. Round-trip trade is US$288m. There are big...

Brian Freitas

Index changes in India's Nifty indices, key events in Asia-Pacific, and significant releases in the USA impacting stocks and indices globally.