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Exchange Trading

Thanks to SWXess, SIX Swiss Exchange is able to offer a fully integrated trading platform which has direct links into the clearing and settlement infrastructure in the form of locked-in trades.

Immediately after execution of a trade, fully automated settlement instructions is forwarded to the relevant central counterparty (CCP) or directly to the central securities depository (CSD).

Straight-through processing

Straight-through processing (STP) is facilitated by the use of routing information entered by SIX Swiss Exchange and various service partners.

The following information from SIX Swiss Exchange - which is transmitted together with the settlement data - allows participants to link transactions to their back-office platforms:

  • Trade ID:
    A sequence of 16 characters that uniquely identifies each transaction.
  • Bank Internal Reference:
    Another character sequence that the participant can voluntarily add to each transaction. It is used by back-office systems to link settlements with transactions fully automatically.