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(Revised from original 2007 version)
The Nikkei 225 Reconstitution
Taka Haneda, a proprietary trader at the Tokyo office of Goldman Sachs, has just learned that the Nikkei 225 will undergo a significant redefinition over the coming week. He faces several billion dollars of customer orders, as well as the opportunity to commit the firm's capital to provide liquidity for the event. He must decide what positions to establish, and at what price he is willing to get out.
Keywords: Financial Liquidity;
Financial Services Industry;
Greenwood, Robin. "The Nikkei 225 Reconstitution." Harvard Business School Case 207-109, March 2008. (Revised from original March 2007 version.)