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Table of Contents
SIX Swiss Exchange (SIX)
SIX Swiss Exchange (formerly SWX Swiss Exchange), based in Zurich, is Switzerland's principal stock exchange (the other being Berne eXchange). SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as stock options. The main stock market index for the SIX Swiss Exchange is the SMI, the Swiss Market Index. The index consists of the 20 most significant equity-securities based on the free float market capitalisation.
According to MarketsWiki.com ,as of 2012, SIX Swiss Exchange is the third largest exchange in Europe by market capitalization, behind LSE Group and NYSE Euronext.
Home Page
Currency: Euro (EUR)
Trading Hours & Calendar
Trading Summary
Orders on SIX Swiss Exchange is submitted to the Central Limit Order Book (CLOB) and matched under price/time priority. For more information on trading on SIX Swiss Exchange, please see here
Lit Order-types
- Limit Order
- Market Order
- Market-On-Close Order
- Limit-On-Close Order
Dark Order-types
Available ATS
Basic Market Rules
- Lot Size - A standard round lot is 100 shares
- Tick Size
Blue Chip Shares
| Price Range (Euro) | Tick Size (Euro) |
|---|---|
| 0.0001 to 0.4999 | 0.0001 |
| 0.5 to 0.9995 | 0.0005 |
| 1 to 4.999 | 0.001 |
| 5 to 9.995 | 0.005 |
| 10 to 49.99 | 0.01 |
| 50 to 99.95 | 0.05 |
| 100 to 499.9 | 0.1 |
| 500 to 999.5 | 0.5 |
| 1,000 to 4,999 | 1 |
| 5,000 to 9,995 | 5 |
| 10,000 and greater | 10 |
Mid/Small Cap Shares
| Price Range (Euro) | Tick Size (Euro) |
|---|---|
| 0.01 to 9.99 | 0.01 |
| 10 to 99.95 | 0.05 |
| 100 to 249.9 | 0.1 |
| 250 to 499.75 | 0.25 |
| 500 to 999.5 | 0.5 |
| 1,000 to 4,999 | 1 |
| 5,000 and greater | 5 |
- Short Sale Rules - short selling is allowed. However naked short selling is prohibited
- Circuit Breakers - continuous trading suspended for 5 minutes if the potential subsequent price differ by more than:
- 1.5% from the current reference price
- 1.5% from a reference price valid within 10 seconds (Avalanche stop)
In certain cases, the Exchange may adjust these parameters on short notice
For more information regarding trading rules on SIX Swiss Exchange, see here
Auction Mechanisms
Open
Opening is randomized to occur within 2 minutes of 9:00. The Open Auction can be delayed by 5-15 minutes if the theoretical opening price deviates sharply from the reference price, or if at the opening there are no quotes on the order book even though executable orders exist on both sides of the market. The same is done for the close.
Close
Immediately before close of trading, an auction is conducted in accordance with the principle of highest executable volume. If there is a trade in the auction, this price shall be the closing price and the new reference price. If there is no trade in the auction, the last trade of the day shall be the closing price.
If there is no trade during the day, there shall be no new closing price and the existing reference price shall remain unchanged.
For more information on the auction mechanisms, please see here