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Since its launch in October 2016, SwissAtMid (SIX Swiss Exchange At Midpoint), the non-displayed liquidity pool of the Swiss exchange, has gone from strength to strength. The 45% increase in average daily turnover from January to May 2018, whilst delivering more than CHF 1.6m in price improvement to trading participants through the first 5 months of the year, has helped to define the success of SwissAtMid thus far in 2018.
May saw the second consecutive month where SwissAtMid was the largest Swiss equity non-displayed pool, achieving42% more turnover than the next largest pool. May also continued the 2018 trend of rising average trade sizes in SwissAtMid; with Blue Chips and Mid/Small Caps average trade size up more than 40% and 30% respectively since January.
All the essential information in one document
This success story has attracted the attention of both buy-side and sell-side communities. Via direct members of SIX Swiss Exchange, they too can enjoy the benefits of accessing the largest Swiss equity non-displayed pool. "By creating the new SwissAtMid Broker Access[PDF] factsheet, we have responded to the demand from the market", comments Gregor Braun, Head Sales Switzerland & Europe, Securities & Exchanges, SIX. "We are aiming to provide the buy and sell-side with all the essential information in one document; who is connected and how they can access SwissAtMid."
More information on SwissAtMid can be found on the Swiss Exchange website and in our publications, such as the SwissAtMid factsheet[PDF] and the SwissAtMid Monthly Execution Report (May 2018 edition[PDF]).
Use "Plus", get more
In May 2018, the Swiss exchange introduced new "Plus" orders with two unique flavors; "Limit Plus" and "Iceberg Plus". These "Plus" orders provide dual-representation in both the lit book and in SwissAtMid - without increasing latency -, exposing it to greater liquidity. Gregor Braun adds: "The "Plus" orders allow your order to passively and automatically follow best price on the market with no increase in cost of execution". More information about "Plus" order functionality as well as detailed benefits are available in the Swiss Exchange factsheet[PDF].
Exchange Services: Get the best of both worlds
A strategic and organizational realignment of SIX has brought the Swiss Exchanges and Securities Services together. This combines the dynamism of one of Europe's foremost exchanges with the stability and reliability of one of the most respected post-trade service providers in the industry. The resulting Exchange Services portfolio is a powerful single source for Swiss and international clients for listing, trading and post-trade solutions. Find out more
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