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

US Banks - Weekly LLR Data Suggests Strong Credit Metrics, 3rd Week in Row of over +4% Loans

Hitachi Energy India (POWERIND IN): Powering into a Global Index in August

NIFTY MIDCAP150 Index Rebalance: 13 Changes a Side; Lots of Overlap with Other Index Flow

Zomato/Eternal: Lower Foreign Ownership Limits & The BIG Passive Selling

Zomato/Eternal: The BIG Passive Selling Starts

Swiggy (SWIGGY IN): US$7.6bn Lock-Up Expiry & Index Inclusion

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>Increased free float should result in passives buying <a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> and lower foreign room should lead to passives selling <a href="https://www.smartkarma.com/entities/eternal-limited" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Eternal (ETERNAL IN)</a> at the end of August.</li>
<li>The increased free float should also result in passive buying for <a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> in September.</li>
<li>
<a href="https://www.smartkarma.com/entities/eternal-limited" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Eternal</a> has outperformed <a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> last week following strong earnings. <a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> announces earnings later this week and that could be a short-term catalyst for a narrowing of the spread.</li>
</ul>


Increased free float should result in passives buying Swiggy (SWIGGY IN) and lower foreign room should lead to passives selling Eternal (ETERNAL IN) at the end of August.
The increased free float should also result in passive buying for Swiggy (SWIGGY IN) in September.

Eternal has outperformed Swiggy last week following strong earnings. Swiggy announces earnings later this week and that could be a short-term catalyst for a narrowing of the spread.


NSE Nifty Next 50 Index (NIFTYJR INDEX EQUITY)

Swiggy/Eternal: Free Float Increase & Foreign Room Decrease 'Delivering' BIG Passive Flows