SIX received around 200 responses from various market participants providing their feedback. The majority of the respondents were based in Switzerland and clients of SIX Index Services, however, SIX also received feedback also from respondents who were not clients of SIX Index Services.
The respondents were not all of the same opinion and expressed their reasons for or against the proposals with a varying degree of granularity. The answers differed depending on the use-case for which the client subscribed to SIX indices, the size of the client in terms of assets under management and the covered market segment (blue-chip cap stocks versus mid & small cap – the next 170+ stocks).
In consideration of the market feedback, which was clearly against transitioning ten securities from the SMIM to the SMI and undecided about the abolishment of the turnover requirement, SIX will currently refrain from pursuing the proposed measures and rule changes for its Swiss Equity Indices. SIX will continue to monitor the evolution of the Swiss equity market and regulatory landscape and will consult the market again in case its prevailing conditions would lead to consider material changes to the index methodologies.
Please find the summary of the market consultation results here.