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News - Transforming Markets, Driven by Demand.

News

 

14.05.2019 Participants

Transforming Markets, Driven by Demand.

With its non-displayed liquidity pool SwissAtMid, SIX has reshaped Swiss equity trading. An interview provides more insights.

In April 2019, the Swiss stock exchange saw activity in its non-displayed liquidity pool increase again, as a growing number of trading participants enjoy the benefits of SwissAtMid more frequently and to a greater extent. Compared to the previous month, the number of transactions rose by 57% to a total of 116'190, while trading turnover soared by even 63% to reach CHF 3'156.8 million. As a result, SwissAtMid retains the leading market share in non-displayed trading of Swiss equities, with 39.4% and enabled participants to enjoy price improvements of CHF 741'480 in April.

Go-to Venue for Block Liquidity

In an interview[pdf] with The Trade, first published during TradeTech 2019, Adam Matuszewski, Senior Equity Product Manager in the Securities & Exchanges business unit of SIX, provides further background on the transformation of SwissAtMid from a pure mid-point execution pool into a go-to venue for participants looking for block liquidity in Swiss shares.

In his interview, Adam explains how the client focus of SIX fueled the creation SwissAtMid and which key factors differentiate it from other venues. He describes the various orders the Swiss stock exchange introduced to help clients interact with non-displayed and lit liquidity at once, such as the Sweep order, and how the introduction of Plus orders have improved LIS liquidity. In recent months, he has observed a strong growth in block liquidity, driven by demand from both buyside and sellside clients.

Liquidity in Swiss Shares Peaks on SIX

In 2018, SwissAtMid has become the largest non-displayed pool of liquidity for Swiss equities in Europe. In recent months, SIX further cemented its position. In April, new records were established, with CHF 338 million traded on a single day and over CHF 1 billion in single week; prior to this, CHF 5.6 bn had already been traded during Q1 2019.

Our website provides more information on SwissAtMid, while the Monthly Execution Report shows trading and performance statistics. For a daily snapshot of the most actively traded stocks, check out our Intraday Activity Dashboard.

A filmed interview provides further information on the growth of block trading in SwissAtMid.

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