SIX Swiss Exchange And SIX Structured Products Exchange: Significant Adjustments To The Fee Model

SIX Swiss Exchange and SIX Structured Products Exchange are to adjust their fee models on January 1, 2017.

SIX Swiss Exchange and SIX Structured Products Exchange are to introduce significant changes in their fee models as of January 1, 2017. These adjustments will increase their competitiveness as efficient and attractive stock exchanges.

Progressive discount model: "pay as you go"

SIX Structured Products Exchange will introduce a progressive discount model for listing derivatives. A fee of CHF 625 (previously: CHF 1,100) will be charged per derivative. This fee will decrease over the course of the fiscal year depending on the number of listings. The maximum discount is 88%. The changeover to the “pay as you go” tariff model combined with lower fees will significantly reduce the listing costs and financial risk for the issuers. At the same time, SIX Structured Products Exchange will raise its trading fees to CHF 1.50.

Higher quality of execution thanks to lower capacity fees

SIX Structured Products Exchange will lower its QPS ("quotes per second") capacity fee, allowing investors to benefit from an improved quality of execution of their stock exchange orders in structured products.

SIX Swiss Exchange will lower its QPS capacity fees for the market segments traded in the Market Maker Book (MMB) model, including ETFs and bonds, while increasing capacity. The additional capacity is aimed at further enhancing the quality of execution and generally increasing available liquidity, particularly in niche products.

Decrease in the registration fee

SIX Swiss Exchange will lower the registration fee per transaction registration in line with the registration office’s regulations for the fulfillment of statutory registration obligations by securities dealers from CHF 1.00 to CHF 0.20. In view of further regulatory adjustments, an additional reduction is being considered for 2018. The reduction in fees is subject to the approval of the Swiss Financial Market Supervisory Authority (FINMA).

Detailed information on the adjustments is available here: