Ann: S&P DJI Announces December 2020 Quarterly Rebalance, page-17

Email S&P and ask them.

I can assure you, they are front run exactly for the purpose of avoiding these liquidity events. I agree passive inflows can distort price discovery, but in this case I find extremely unlikely to be material today.

There is insignificant top 20 ETF's and corresponding volume. Nearly 150mil gets traded in APT every day. There is maybe 2 ETF's that would need to include APT as a result of this change and the amount they would need to purchase would in the orders of 10s of millions, not that much really. These can also be done in dark pools or in the post market.

Having APT included in the top 200 affects many ETF's and many active managers who benchmark against the top 200. That would cause a significant run on price.