Liquidity in Swiss Shares Peaks on SIX. Record day results in record week: over CHF 1 billion traded in SwissAtMid, the leading non-displayed pool of the Swiss stock exchange.
Liquidity in the non-displayed pool of SIX for Swiss equities, SwissAtMid, has reached new heights: in the week from 8 to 12 April 2019, the Swiss stock exchange has recorded a trading volume of over CHF 1 billion. Over half of its participants were active in the pool, executing 34’566 trades in 138 shares, with an average trade size of CHF 31’010.
SwissAtMid delivers many benefits for trading participants, such as reduced information leakage, minimized market impact and price improvement by trading at the midpoint.
The leading liquidity pool for non-displayed trading in Swiss shares
These figures further establish SwissAtMid as the leading pool for non-displayed trading in Swiss shares. Since its launch in Q4 2016, SwissAtMid has grown exponentially and provided exceptional value provided to firms that are searching for improved execution quality in Swiss listed equities.
In 2018, CHF 14 bn were traded in the pool, and clients achieved an average price improvement of 4bps that translates to savings of CHF 4.2 million. Today, SwissAtMid is by far the largest liquidity pool among non-displayed and periodic auction venues in Swiss equities, and its further growth is not subject to cap restrictions.
A key factor in reaching the record of CHF 1 billion traded in a single week has been the listing of Alcon on the Swiss stock exchange on 9 April 2019: it not only helped SwissAtMid to a record day, but also caused a rise of trading volumes, market share and the SMI®.
Focused on client needs
Christian Reuss, Head Sales Securities & Exchanges, SIX, comments the new record: “At the Swiss stock exchange, we understand the value of non-displayed trading to our clients. We concentrate our efforts to accommodate market needs, further developing our non-displayed pool SwissAtMid.”
The primary focus of SIX – the operator of the Swiss stock exchange – is to deliver Exchange Services with exceptional quality and reliability. In addition, SIX is driving the competitiveness of its customers in Swiss and international financial markets through innovation.