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

Brian Freitas

Highly experienced ex-Delta One trader with 17 years of experience trading arbitrage and related strategies across Asian markets.

Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd.

It is important to note that the information provided by Periscope Analytics is based on publicly available data and own knowledge, which has been gathered and synthesized from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions.

All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include, but are not limited to, company announcements, exchange filings, ETF and other passive investment vehicle holdings, and free float and volume data from third-party data providers. Periscope Analytics does not guarantee the accuracy and completeness of the forecasts, estimates and/or other information.

Pan-Asia Index Rebalances/ Events/ Delta One

Getting Paid to Wait for a Gold Pullback: Short-Put Strategy

Genesis (GMD AU) & Vault (VAU AU) Merger: Index Implications with A$1bn to Buy

Regis Resources (RRL AU) & Vault Minerals (VAU AU) To Merge: Multiple Index Flows

Zijin Gold (2259 HK): Lock-Up Expiry and Index Inclusions/Upweights; US$1.5bn to Buy by June

Gold Miners ETF (GDX US) June Rebalance: 3 Adds Likely; US$1.6bn Trade

Gold Miners ETF (GDX US) March Rebalance: 4 Adds and US$5.1bn Trade

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

Zijin Gold International / Index Rebalance

<ul>
<li>There are 9 additions for the <a href="https://www.smartkarma.com/entities/vaneck-gold-miners-etf-usa" target="_blank" data-smartkarma-citation="entities:32924:1" rel="noopener">VanEck Gold Miners ETF/USA (GDX US)</a> in June. Plus, one listing switch and a whole bunch of float and capping changes.</li>
<li>Estimated one-way turnover is 6.2% and that leads to a round-trip trade of US$3.4bn. There are many stocks with multiple days of ADV to trade from passive trackers.</li>
<li>
<a href="https://www.smartkarma.com/entities/zijin-gold-international-company-limited" target="_blank" data-smartkarma-citation="entities:45448:1" rel="noopener">Zijin Gold International (2259 HK)</a> has been added following an increase in free float, and the passive buying could provide short-term support for the stock.</li>
</ul>


There are 9 additions for the VanEck Gold Miners ETF/USA (GDX US) in June. Plus, one listing switch and a whole bunch of float and capping changes.
Estimated one-way turnover is 6.2% and that leads to a round-trip trade of US$3.4bn. There are many stocks with multiple days of ADV to trade from passive trackers.

Zijin Gold International (2259 HK) has been added following an increase in free float, and the passive buying could provide short-term support for the stock.


Gold Miners ETF (GDX US) June Rebalance: 9 Adds and US$3.4bn Trade