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SIX Swiss Exchange launches SwissAtMid

First Published 18th October 2016

SIX Swiss Exchange At Midpoint (SwissAtMid) offers price improvement opportunities when trading Swiss equities.

As part of SWXess Maintenance Release (SMR6), SIX Swiss Exchange launches SIX Swiss Exchange At Midpoint (SwissAtMid). This new service allows execution of Swiss equities in a non-displayed pool at the mid-point of its lit order book. SwissAtMid provides trading participants with significant price improvements in all Blue Chips as well as Mid and Small Caps primary-listed on SIX Swiss Exchange.

A new Sweep order type is introduced together with SwissAtMid, allowing participants to choose how they want to interact with the outstanding liquidity on SIX Swiss Exchange. Sweep orders look for an execution in SwissAtMid first before routing to the lit order book. As this happens in one cycle, Sweep orders have no negative impact on latency and contain no risk of opportunity loss.

By launching SwissAtMid, SIX Swiss Exchange aims to address the demand for non-displayed trading and answers to clients' needs for best execution and price improvements. SwissAtMid is operated in parallel to SLS, the long-standing partnership between SIX Swiss Exchange and Liquidnet that offers block liquidity in a pan-European securities.