SIX welcomed Alcon, another leading company from the
life sciences sector, on 9 April 2019. The global eye care giant is already the second new company to join the Swiss stock
exchange this year and certainly not the last one. Most noteworthy is the size of this spin-off from Novartis AG: the
opening price of CHF 55.00 means the total market capitalization of the newly listed Alcon AG reached CHF 26.9 billion.
In this context, SIX has carried out an extraordinary adjustment to the composition of various indices, notably Switzerlands
most important equity benchmark, the
Swiss Market Index SMI®. This has
triggered a number of portfolio adjustments, which resulted in a remarkably high trading volume for the new security.
On the day of the Alcon listing, trading in blue chips on the Swiss stock exchange has more than doubled in volume compared
to the previous day, jumping from CHF 2'457.86 million to
CHF 4'965.94 million; this number is also significantly higher than the YTD daily average
trading volume of CHF 3'006.22 million.
Furthermore, SIX has seen a record day in its non-displayed liquidity pool,
SwissAtMid. With a
volume of CHF 338 million on 9 April, the previous record of CHF 153 million, dating from 18 October 2018, has been surpassed
more than twice. This contributes to an already impressive start by the biggest non displayed liquidity pool for Swiss blue
chips, with CHF 5.6 billion traded in Q1 alone.
In addition, SIX had made two observations on the day of the Alcon listing. First of all, the market share of the Swiss stock
exchange reached 78.00%, representing an increase of 6.76 points over an already impressive
YTD average of 71.24% and highlighting both its exceptional liquidity and its role as the
reference market for Swiss securities. Secondly, the SMI has been pushed to a temporary all-time high of
Direct Access to International Capital and Liquidity
All these numbers highlight the positive effects a single listing can have and how crucial a faultlessly performing exchange
is for the functioning of financial markets. The Swiss stock exchange owned and managed by SIX provides companies with
access to experienced, highly capitalized Swiss and international investors and high liquidity. This is how SIX plays a key
role in financing growth and safeguarding the long-term prosperity of the Swiss economy.
Find out more about our Exchange Services.
Our website also provides more information on
listing on the Swiss stock exchange and the
index offering of SIX.
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