DEFINITION of SIX Swiss Exchange
The SIX Swiss Exchange is Switerzland's primary stock exchange, located in Zurich. The SIX Swiss Exchange trades Swiss government bonds, stocks and derivative products such as stock options. The SIX Swiss Exchange is among the world's 20 major stock exchanges.
BREAKING DOWN SIX Swiss Exchange
The SIX Swiss Exchange was formerly known as the SWX Swiss Exchange. It was the first stock exchange to support fully automated trading, clearing and settlement, in 1995. Switzerland's other exchange is the smaller Bern eXchange (BX). The SIX Swiss Exchange delivers fair and transparent trading in equities, bonds, sponsored funds, sponsored foreign shares, exchange-traded funds (ETFs) exchange-traded products (ETPs) and structured products. The exchange uses the trading platform X-stream INET and trades primarily in the Swiss franc (CHF). Trading hours are Monday-Friday 9am-5:30pm.
The SIX Swiss Exchange ensures the following:
- Liquidity in trading
- World-class trading technology
- Quick admission and flexible connectivity options
- Strong trading conditions and a market-driven regulatory environment
- Access to a large network and expert knowledge
- An efficient listing process, where a company can go public within four weeks
Switzerland is considered one of Europe’s leaders in innovation and is known for its political and economic stability. It also holds a top position in the biotech and med-tech sectors due to the productive interaction between its biotech and med-tech industry and Switzerland-based financial institutions. The country also leads in the financial services industry. Various global sector leaders in the financial and insurance spaces are represented on the SIX Swiss Exchange.
Highlights in SIX Swiss Exchange’s history:
- Switzerland's three stock exchanges (in Geneva, Basle and Zurich) merge to form the SWX.
- Electronic trading in foreign equities begins.
- Electronic trading in Swiss equities and options is introduced.
- A fully automated trading, clearing and settlement system is inaugurated.
- SWX Repo, the world’s first fully integrated, electronic repo trading platform is inaugurated.
- The name "SWX Swiss Exchange" is introduced.
- The ETF segment launches.
- The SWX Group (consisting of SWX Swiss Exchange, Eurex, virt-x, STOXX, EXFEED) is established.
- SWX Group, SIS Group and Telekurs Group merge to become Swiss Financial Market Services AG. In August, the new company is rebranded SIX Group.
- The exchange begins to trade exchange-traded products (ETPs).
- The exchange expands its multicurrency capability, such as the start of trading in ETFs in AUD.
- The ETF segment grows by 155 new products.