Swiss Exchange
The Swiss Exchange (SIX Swiss Exchange) is a stock exchange based in Switzerland. It is the largest exchange in the country and one of the most important in Europe. SIX Swiss Exchanges principal activity is providing trading and clearing services in a wide range of financial instruments, including equities, bonds, warrants, exchange traded funds, commodities, and derivatives. The exchange also provides a wide range of services to its members including access to market data, post-trade services, and securities custody.
History
The Swiss Exchange has an interesting background, having started in the late 19th century. In 1895 the first Swiss Stock Exchange opened in Zurich, the Berne Bourse, offering stock trading in Zurich, Basel, and Geneva. The exchange continued to grow and expand, and in 1908 it was reorganized as the Swiss Stock Exchange (SIX). In this era of growth, the SIX created the Swiss National Market Index (SMI) to aid in welcoming international capital to Swiss Markets.
The Swiss Exchange really gained momentum in the 1990s, after the deregulation of the European financial markets, and saw a rapid increase in the range of products it offered and the volume of transactions it handled. In 1999, the Swiss Exchange merged with the Berne Bourse of Zurich and the Bären Stock Exchange of Geneva. Following this increased profile, electronic trading of Swiss listed securities commenced in 2001, initially through a partnership with Tegal, and in 2005 the exchange completed its transition to a fully electronic-trading platform.
Products and services
The Swiss Exchange offers a wide range of products and services to its customers. These include equities, bonds, warrants, Exchange Traded Funds, commodities, derivatives, and options. The exchange also provides data services such as market depth data, real-time pricing and trading information and news. In addition, post-trade services such as Settlement, Clearing, Depository, and Custody are available.
The exchange operates on a Multilateral Trading Facility (MTF) basis, allowing multiple market makers to continuously quote prices for listed securities. The exchange also offers mobile trading, allowing customers to access the market in a range of devices, including on their iPads.
The Swiss Exchange also provides a number of trading and analytical tools for investors, such as the monitoring and analysis of the market. The exchange also provides a range of customized solutions to match investors’ individual requirements.
Conclusion
The Swiss Exchange is one of the most important and successful financial exchanges in Europe. It offers a wide range of products and services, including equities, bonds, warrants, commodities, derivatives and options. The exchange operates on an MTF basis, allowing multiple market makers to continuously quote prices. It also offers mobile trading, data services and post-trade services such as clearing, settlement, and custody. The Swiss Exchange is well positioned to provide investors with the products and services they require to make successful investments.
