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On-order-book trading

SIX Swiss Exchange offers interfaces with various functions for on-Exchange trades executed either via the order book or away from the order book. Orders and quotes on the order book are entered, changed or cancelled using the following interfaces.

The Standard Trading Interface (STI) for orders

The Standard Trading Interface enables participants to enter, change or cancel Normal orders, Iceberg orders, Limit Plus and Iceberg Plus orders with different validities.

The Standard Trading Interface additionally allows participants to submit Trade Reports to the Exchange or Reporting Office, to perform Corrections and Countertrades as well as to request Cancellations.

The OUCH Trading Interface (OTI) for volatile orders

The OUCH Trading Interface (OTI) enables participants who engage in high-frequency trading to enter, change or cancel orders. The OTI allows participants to enter enhanced order types such as Normal orders, Iceberg orders, Limit Plus and Iceberg Plus orders with different validities.

The Quote Trading Interface (QTI) for quotes

The Quote Trading Interface (QTI) allows participants engaged in market making activities to enter, change or cancel quotes. Quotes can only be managed by participants via the QTI.

Detailed information on the various functions of the two interfaces

The Order Book Functionality Guide[pdf] provides an overview of the functional spectrum of the STI, OTI and QTI interfaces.