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News - 10'000 orders in 1 blink - on the world's fastest exchange

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23.04.2012 Participants

10'000 orders in 1 blink - on the world's fastest exchange

SIX Swiss Exchange introduces X-stream INET and co-location, reducing latency to 37 microseconds and increasing its attractiveness for all market participants.

As the first exchange to introduce X-stream INET, SIX Swiss Exchange offers participants the world's most advanced trading technology for equities. In combination with its new co-location service, trading on SIX Swiss Exchange is now almost 22-times faster than before, as average roundtrip latency is reduced to only 37 microseconds. Christian Katz, CEO SIX Swiss Exchange, comments: "Besides faster execution and higher order volumes, participants also enjoy quicker adjustment of their investment decisions. This results in much more efficient risk management which benefits trading participants and end investors alike."

37 microseconds for all market participants

To allow participants to benefit fully from the outstanding performance of the X-stream INET trading technology developed by Nasdaq OMX, SIX Swiss Exchange offers a new co-location service in partnership with Equinix. "Participants from around the world have equal access to the Equinix data center in Zurich and can install their technical equipment next to the SWXess trading engine. This enables them to all enjoy the same superior latency and capacity regardless of their geographical location", adds Chris Landis, Head Operations SIX Swiss Exchange.

Along with X-stream INET and co-location, SIX Swiss Exchange introduces the standardized low-latency interfaces for trading (OUCH) and market data dissemination (ITCH). Market makers in ETFs, ETPs or Structured Products can now identify price movements in underlyings more quickly and execute corresponding investment and market-making decisions more effectively.

Investing in future growth

A prerequisite for the launch of X-stream INET had been the separation of the trading platform for order and quote driven securities in October 2011. In the future, this will allow SIX Swiss Exchange to extend the benefits of X-stream INET to its other attractive trading segments such as ETFs, Bonds and Derivatives, in order to attract more volume and liquidity in Swiss securities and strengthen its position as their reference market.

Our website provides more information on X-stream INET and co-location. For an overview of their combined advantages, please consult our factsheet on High-performance Trading[pdf]. Information about the latency calculation is available in the Performance Measurement Details[pdf]. Participants who want to take advantage of co-location can benefit from our fee holiday until 31 July 2012.

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