As MSCI reported on February 11, today is the day when the previously announced quarterly rebalancing will take place, one which Credit Suisse estimates will see approximately $7.8bn gross trading in DM and $1.2bn in Emerging Markets.
As a reminder, this is how MSCI previewed today’s torrid end of today activity:
- MSCI Global Standard Indexes: Thirteen securities will be added to and ten securities will be deleted from the MSCI ACWI Index. In the MSCI World Index, the three largest additions measured by full company market capitalization will be Jardine Matheson (Hong Kong), Worldpay Group (United Kingdom), and Waste Connections (USA). The two additions to the MSCI Emerging Markets Index will be Axis Bank (India) and Sibanye Gold (South Africa).
- MSCI Global Small Cap Indexes: There will be eight additions to and 35 deletions from the MSCI ACWI Small Cap Index.
- MSCI Global Investable Market Indexes: There will be three additions to and 27 deletions from the MSCI ACWI IMI.
- MSCI Global All Cap Indexes: There will be two additions to and five deletions from the MSCI World All Cap Index.
- MSCI Global Value and Growth Indexes: The three largest additions to the MSCI ACWI Value Index measured by full company market capitalization will be Jardine Matheson (Hong Kong), Axis Bank (India) and Mid-America Apartment (USA), while the three largest additions to the MSCI ACWI Growth Index measured by full company market capitalization will be Worldpay Group (United Kingdom), Waste Connections (USA) and Genmab (Denmark).
- MSCI Frontier Markets Indexes: There will be one addition to and no deletions from the MSCI Frontier Markets Index.
- MSCI Global Islamic Indexes: Twenty-eight securities will be added to and 32 securities will be deleted from the MSCI ACWI Islamic Index. The three largest additions to the MSCI ACWI Islamic Index measured by full company market capitalization will be Tencent Holdings Li (CN), Kraft Heinz Co (USA) and Innuit (USA). There will be three additions to and two deletions from the MSCI Gulf Cooperation Council (GCC) Countries ex Saudi Arabia IMI Islamic Index.
- MSCI US Equity Indexes: There will be no securities added to and four securities deleted from the MSCI US Large Cap 300 Index. The three largest deletions from the MSCI US Large Cap 300 Index will be Continental Resources, Marathon Oil Corp. and Freeport McMoRan B.
- Four securities will be added to and 14 securities will be deleted from the MSCI US Mid Cap 450 Index. The three largest additions to the MSCI US Mid Cap 450 Index will be Continental Resources, Marathon Oil Corp. and Freeport McMoRan B.
- Fourteen securities will be added to and no securities will be deleted from the MSCI US Small Cap 1750 Index. The three largest additions to the MSCI US Small Cap 1750 Index will be Diamond Offshore Drill, Pandora Media and Huntsman Corp.
- MSCI China A Indexes: There will be thirteen additions to and nine deletions from the MSCI China A Index. The largest additions to the MSCI China A Index will be Jiangsu Shagang Co A, Beijing Xinwei Telecom A and Jiangsu Sanyou Group A. There will be nine additions to and twelve deletions from the MSCI China A Small Cap Index.
To make it simpler for US traders, here courtesy of Credit Suisse is the list of the top North American buys:
And the biggest North American sales:
via Zero Hedge http://ift.tt/1WSjKRQ Tyler Durden