In a video interview, Tony Shaw, Director London Office SIX Swiss Exchange, talks about the start of the year
regarding volumes and regulatory changes.
After a very successful year 2017 with growing
volumes and an increase in market share, SIX Swiss Exchange also registered a strong start in 2018. At the end of February,
overall year-on-year trading turnover saw an increase of 8.7% to reach close to CHF 250
billion - of which CHF 200 billion were traded in equities, up by 10%.
In an interview (see below), Tony Shaw, Director London Office, points out the other reasons besides market volatility that
have contributed to an impressive growth so far this year. These include the introduction of bitcoin certificates on SIX
Swiss Exchange which have boosted turnover in the structured products segment and continued strong investor demand for ETFs
on the back of yet another record year in 2017.
Tony Shaw also shares his observations regarding the introduction of regulatory changes, specifically on tick sizes changes
as well as double volume caps. He explains the impact tighter spreads have had on order sizes and the effect of the
introduction of double volume caps on SIX Swiss Exchange's own non-displayed pool, SIX Swiss Exchange At Midpoint (SwissAtMid).
SwissAtMid allows the execution of Swiss equities in a
non-displayed pool at the mid-point of the lit order book of SIX Swiss Exchange. With a trading turnover of CHF 4.7 billion in
2017, SwissAtMid has significantly contributed to the impressive market share in trading of Swiss large cap equities of
68.3% (up from 64.6% in 2016).