Microwave technology allows the fastest transmission of trade data between exchange data centers.
The microwave network of SIX provides trading firms looking for low-latency solutions with a single source for ultra
low latency services from and to Zurich and Milan. The network currently links Zurich with London, Frankfurt and Milan
as well as Milan with Frankfurt and London.
For further information on the Business Setup and Technical Setup, please
Termination Point A
Termination Point B
|Zurich London||Equinix ZH4||Equinix LD4|
|Zurich Frankfurt||Equinix ZH4||Equinix FR2|
|Zurich Milan||Equinix ZH4||BT Milan|
|London Milan||Equinix LD4||BT Milan|
|Frankfurt Milan||Equinix FR2||BT Milan|
The Swiss Stock Exchange offers the service through the Zurich-based subsidiary 12H AG ("12H")
and takes care of all customer relationships. 12H is one of the largest microwave network providers in Europe.
Benefits of microwave technology
The ultra-low latency microwave network of SIX enables trading participants of the Swiss Stock Exchange such as market
makers and liquidity providers in the equities and ETF space to execute their trading strategies faster while at the
same time improving their risk management. As a result, improved liquidity and tighter spreads create better execution
conditions for all market participants.
Microwave technology (or radio frequency, RF) allows for trade data to be transmitted faster than via connections based
on fibre optic technology. Microwave can deliver lower end-to-end latency than fibre because it takes a more direct line
between the two ends of the network. Also, microwave signals travel at the speed of light through air, rather than over
fibre, which can attenuate signals.
Innovation and technological leadership
SIX is the first exchange to own and operate an international microwave network in Europe. As the first in the world
to introduce fully electronic trading in 1996, the Swiss Stock Exchange has a history of taking a pioneering role in
the development of electronic trading and deploying breakthrough technology to shape the future of trading.
Swiss exchange first to launch international microwave-based trading in Europe