Index arbitrage is a trading strategy that attempts to profit from the differences between actual and theoretical prices of a stock market index. The Arbitrator is responsible for ruling on all pre-hearing motions, other than those listed in Rule 74(d)(1) of the Arizona Rules of Civil Procedure.The merger arbitrage strategy involves purchasing the stock of a company subject to an expected merger, hoping for a riskfree profit. Maricopa County was established on February 14, 1871, and is located in the southcentral portion of the State of Arizona. In their Opening Brief, Appellants do not dispute the Commission's finding that, as a. Phoenix was just recognized as the number one location for manufacturing job growth in the United States.