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News

 

15.01.2018 Investors

2017: a very successful year for SIX Swiss Exchange

Growing volumes, an increase in market share and several listings underline its strong appeal as a trading and listing venue.

There was a significant year-on-year rise in trading activity on SIX Swiss Exchange. Trading turnover was up by 5.2%, totalling CHF 1'345.9 billion by the end of the year. March saw the highest monthly turnover in 2017 with CHF 142.5 billion. The lion's share of trading turnover in 2017 was generated in the segment equities including funds with CHF 1'058.0 billion (+5.2%).

As far as the number of trades was concerned, the increase of 8.0% was even higher, equating to a full-year total of 51'402'173. May saw the highest number of transactions, at 4'903'946. In the segment equities including funds, the number of trades rose by even 8.4% to 49'383'694.

Market share: increased to 68.3%

In 2017, the market share of SIX Swiss Exchange in trading of Swiss large cap equities rose significantly, from 64.6% in the preceding year to 68.3%. With a trading turnover of CHF 4.7 billion, SIX Swiss Exchange At Midpoint contributed to this positive result. SwissAtMid enables trading in Swiss equities in a non-displayed liquidity pool at the mid-point price of the public order book and is registering a steady rise in trading turnover. With Mit WEBB Traders, IMC and Market Wizards three new trading participants joined the exchange in 2017.

Third highest IPO transaction volume in Europe

There was also a positive trend in the number of listings. In 2017, SIX Swiss Exchange welcomed six new companies: Rapid Nutrition, Galenica, Idorsia, Zur Rose, Landis+Gyr und Poenina. Featuring a transaction volume of CHF 2.3 billion, the IPO from Landis+Gyr was not only the largest on SIX Swiss Exchange for 11 years, it was also one of the largest IPOs in Europe in 2017. With a total transaction volume of CHF 4.5 billion, SIX Swiss Exchange was on the third highest position in Europe in terms of IPO transaction volume.

ETFs: new records

The ETF segment registered a trading turnover of CHF 116.4 billion, clearly beating the previous record set in 2016 by a substantial 12.2%. The number of transactions was also up, by 6.0% to 1'019'294. In 2017, 114 new ETFs were listed. At the end of the year, 1'278 products from 22 issuers - including First Trust - were available, more than ever before. Money Market Papers were listed on SIX Swiss Exchange.

Measures in the European context

In September, SIX Swiss Exchange implemented a rule change on the SMI that that capped individual securities to 18%. This brought the benchmark index into line with the UCITS Directive so that it can be used as a reference index for the Swiss equity market within the EU. Furthermore, SIX Swiss Exchange has fulfilled the requirements of the EU's MiFID ll Directive, thus meeting the conditions for recognition by the EU as an equivalent third-country trading venue. In order to make it easier for foreign trading participants to meet their reporting obligations in Switzerland, a partnership with UnaVista has also been set up.

Added value for clients and investors

In 2017, SIX Swiss Exchange launched various initiatives to further increase the attractiveness of its offering. Since February, participants enjoy an additional option of choosing Central Counterparties with EuroCCP. In December, the exchange announced the internationalization of CONNEXOR® via a strategic partnership with Contineo, a leading trading platform for Structured Products in Asia, as well as joint venture 12H with 12Horizons Pte Ltd, a specialized provider of radio-frequency solutions. As a result, market participants benefit from efficiency gains and most advanced trading technology.

More detailed figures are available in the statistical monthly report[pdf]. Our website provides daily figures for volume and turnover..

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