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Central Limit Order Book (CLOB)

CLOB is the underlying market model for the main order book for Swiss Listed Instruments. Our CLOB is the main source of liquidity for Swiss Listed Equities.

Participants trade using orders. Trading commences with an opening auction, followed by continuous trading, then a closing auction that determines the closing price of instruments and finishes with a short trading session Trading-At-Last (for more details on Trading-At-Last please read our factsheet[pdf]). There are trading interruptions in case price deviates from the reference price. More details are provided in the Equity product Guide[pdf].

The CLOB adopts a minimum price steps[pdf] dictated by MiFID II tick size regime.

Participants can use various orders to interact with liquidity in CLOB. There are some orders that allow to access CLOB and the supplementary liquidity book – SwissAtMid at once.


Intraday Activity: check out the most actively traded market segments!

Get an instant picture of the progress of trading activity in the entire spectrum of around 40'000 securities listed on SIX.