Stories bring technical and complex matters alive and make them easy to understand. To mark the anniversary of the Swiss Value Chain, people at SIX are therefore passing on their very own anecdotes and experience: stories about the stock exchange, clearing or securities settlement and custody – past and present.
Gabriela Rytz is Head Reception Services at SIX: she and her team ensure that customers, visitors and staff feel "looked after". They manage the reception, reserve parking spaces, connect callers and pass on written requests to the relevant departments. They field up to average 400 calls per day. Gabriela loves that. She is familiar with what happens behind the scenes at SIX, how the processes run and where to get started on things.
Gabriela is not new to the business: in the mid-80s she did a placement as a fiche runner at the old Zurich stock exchange as part of her banking apprenticeship. The "old" stock exchange in Zurich's Bleicherweg had been the biggest Swiss securities trading venue since 1930. Securities were traded in a ring "à la criée". Gabriela ran with the trading orders received by phone to the traders on the trading floor.
Electronic stock exchange trading replaced ring trading in summer 1996: fiche runners who had to flit from one place to the other and wildly gesticulating traders are all a thing of the past. Banks issue their buy and sell orders via computer; trading is carried out on electronic trading platforms that automatically match supply and demand in keeping with precisely defined rules. The ring today is only of symbolic importance in the stock exchange building of SIX Swiss Exchange, serving as a historical conference venue.