Transparency created by the publication requirement
SIX Swiss Exchange and Scoach Switzerland have a statutory obligation to publish all information necessary for
the transparency of securities trading. The publication requirement applies specifically to price
information on the traded securities and to the volume of securities traded on-exchange. Details
of the publication requirement are set out in
Article 5 paragraph 3 SESTA[pdf].
Which data are published?
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The last exchange price with volumes and time (continuous transmission)
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The best bid and ask prices with volumes (cumulative, continuous)
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The trading period and any intervention by the Exchange (e.g. suspension of trading in a security)
-
The order book status ("Trading", "Pre-Openingv",
"Stop Trading", "Suspended", "Break",
"Between Auctions")
-
Market depth
How does SIX Swiss Exchange publish price information?
There are no specific statutory provisions regarding the time and manner of publication. SIX Swiss Exchange and
Scoach Switzerland receive the information in real time via the trading system or, with
the help of SIX Exfeed via additional electronic media, namely:
- Swiss Market Feed (SMF)
- Quote Market Feed (QMF)
- Market Data Interface (MDI)
Information vendors such as SIX Telekurs, Thomson Reuters, Bloomberg etc. make the
information distributed through these media available to the public.
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