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News - "We Managed to Increase Block Liquidity."



03.05.2019 Participants

"We Managed to Increase Block Liquidity."

Demand meets supply: when it comes to block trading, the non-displayed pool of the Swiss stock exchange increasingly provides block liquidity.

In today’s trading landscape, accessing and interacting with liquidity remains a central concern for all market participants. When it comes to liquidity in Swiss equities, the Swiss stock exchange not only provides the most attractive lit-book, but also the largest non-displayed pool: SwissAtMid.

In an interview (see below), Adam Matuszewski, Senior Equity Product Manager in the Securities & Exchanges business unit of SIX, explains the transformation of SwissAtMid from a pure mid-point execution pool with trade sizes comparable to those on the lit market into a go-to venue for participants looking for block liquidity in Swiss shares.

Flexible interaction

SIX understands that different clients have different needs when it comes to navigating through different liquidity profiles. Adam points out that SwissAtMid offers participants looking for block executions to set a "minimum execution quantity", which helps to select the right threshold which they want to interact with.

The focus on client needs has also been the key driver of the Swiss stock exchange to introduce new orders designed to facilitate the interaction with both the lit and the non-displayed order books. In the interview, Adam explains the functionalities and advantages of Sweep, Iceberg Plus and Limit Plus – and in which scenarios their potential can be exploited to the fullest.

A full innovation pipeline

Besides delivering Exchange Services with exceptional quality and reliability, SIX also drives innovation. Two examples are mentioned in the interview: one is aimed at helping Swiss trading participants to fulfill best execution, and one is to build a world-leading exchange for digital assets, covering every step of the value chain, end-to-end.

The interview was filmed by The Trade during TradeTech Europe 2019, where SIX presented its Exchange Services offering. A recent article also looks at the growth of block liquidity in SwissAtMid.

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.

On other websites of SIX you can find more information on SIX Digital Exchange and further innovation projects.

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