SIX Swiss Exchange

by · June 13, 2012

Six Swiss Exchange is the leading Swiss stock exchange which is located in Zurich. Previously, it was renowned as SWS Swiss Exchange. Today, it is outperforming its rival, Berne Exchange, which is the other stock exchange in Switzerland.

The Swiss Market Index (SMI) is the principal index in this stock exchange. When the free float market capitalization is under consideration, the role of SMI is quite significant which contains the 20 most prominent equity-securities. This famous stock exchange is trading different types of securities like the bonds of the Switzerland Government. The major stock market index of the Six Swiss Exchange is the blue-chip index.

Another major facet of Six Swiss Exchange is that, it is the proprietor of Eurex with its German partner Deutsche Borse. The world’s most prominent derivatives exchange is Eurex, and it deals with a good variety of products for international benchmark. The German company proceeded in 2004 with a proposal of merging which was ultimately rejected by the Swiss stock exchange, although it was suggested as beneficial for the smaller companies listed with it by many experts and analysts.

This prominent stock exchange played a pioneering role in the business arena to introduce the process of trading, settlement and also clearing based on complete automation in 1995. 55 banks in Switzerland created an association for the whole management and control of this stock exchange.  They share equal voting power in every major decision-making process concerning the exchange’s overall administration.

History

  • In 1995, it started its journey bearing the name of SWX with fully automated system, which was identified as the welcome alternative of floor-trading method of the stock exchanges at Geneva(established in 1850), Basel (established in 1866) and also Zurich (established in 1873).
  • In 2002, the electronic exchange with virt-x cross-border was purchased by the stock exchange, which was renamed later as SWX Europe.
  • The Six Swiss Exchange and the German giant Deutsche Borse have started a joint venture system named as Scoach since 2007 in order to offer a special trading platform based on derivatives.
  • From 2008, it was given a new name, ‘Six Swiss Exchange’.
  • In the same year, it formed the SIX Group by merging with Telekurs Group and SIS Group.

Other Services of Six Group

The SIX Group acts not only as a renowned stock exchange but also as a provider of the following service through distinct entities:

  • SIX SIS Ltd for contributing specific services like custody and settlement of securities.
  • SIX x-clear Ltd for offering clearing services.
  • Delivering necessary financial information services through SIX Financial Information.
  • SIX SAG Ltd for providing the service of share registry.
  • Specialized payment facilities in Switzerland and the entire Europe through SIX Pay and multi-pay card solutions.
  • Providing inter-bank clearing services on a real time basis through SIX Swiss Interbank Clearing (SIC) as the authorized representative of Switzerland’s central bank, which is commonly known as the Swiss National Bank.

Trading Hours

The trading sessions of this exchange start at 09:00 and end at 17:30. It is open in all weekdays except holidays declared previously.

Tags: