Difference between revisions of "SIX Swiss Exchange"

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In December of 2012 it became known that Six Group had agreed to a deal to acquire 100 percent of of Oslo Clearing from [[Oslo Børs]] for NOK 180 million (approximately $32 million). The deal, which would go through in the second quarter of 2014, was subject to regulatory approval.<ref>{{cite web|url=http://www.waterstechnology.com/sell-side-technology/news/2232410/six-agrees-to-acquire-oslo-clearing-from-norway-b-rs|name=Six Agrees to Acquire Oslo Clearing from Norway Børs|org=Waters Technology|date=December 17, 2012}}</ref><ref>{{cite web|url=http://www.bobsguide.com/guide/news/2012/Dec/17/six-purchases-oslo-clearing-asa.html|name=Press Release|org=Bobs Guide|date=December 17, 2012}}</ref>
 
In December of 2012 it became known that Six Group had agreed to a deal to acquire 100 percent of of Oslo Clearing from [[Oslo Børs]] for NOK 180 million (approximately $32 million). The deal, which would go through in the second quarter of 2014, was subject to regulatory approval.<ref>{{cite web|url=http://www.waterstechnology.com/sell-side-technology/news/2232410/six-agrees-to-acquire-oslo-clearing-from-norway-b-rs|name=Six Agrees to Acquire Oslo Clearing from Norway Børs|org=Waters Technology|date=December 17, 2012}}</ref><ref>{{cite web|url=http://www.bobsguide.com/guide/news/2012/Dec/17/six-purchases-oslo-clearing-asa.html|name=Press Release|org=Bobs Guide|date=December 17, 2012}}</ref>
  
On July 6, 2018 SIX announced plans to launch a fully regulated cryptocurrency exchange.  
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On July 6, 2018 SIX announced plans to launch a fully regulated cryptocurrency exchange to be overseen by the Swiss national bank and Swiss regulator FINMA. Switzerland has been one of the most crypto-friendly jurisdictions in Europe, and its regulators have given clear guidance on how they expect crypto companies to operate.
 
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== Resources ==
 
== Resources ==

Revision as of 10:23, 6 July 2018

FTSE Russell banner 2016.gif
SIX Swiss Exchange
Six logo.gif
Founded 1993
Headquarters Zurich, Switzerland
Key People Jos Dijsselhof, Chief Executive Officer
Products Cash product exchange
Website www.six-swiss-exchange.com

The SIX Swiss Exchange is part of the cash market division of SIX Group. That division also encompasses the London-based international securities exchange SWX Europe (formerly virt-x) as well as the financial market data vendor SIX Exfeed.

SIX Group was formed at the beginning of 2008 through the merger of SWX Group, SIS Group and Telekurs Group.[1]

The SIX Swiss Exchange has also engaged in joint ventures with the European index provider STOXX, as well as Swiss Fund Data.[2]

History

The SIX Swiss Exchange was founded as the "Schweizer Börse/Bourse Suisse/Borsa Svizzera/Swiss Exchange" in 1993, with the merger of Switzerland’s three stock exchanges in Geneva (founded in 1850), Zurich (1873) and Basle (1876) completed in 1995. Electronic trading was introduced the following year, and floor trading ended.

SOFFEX, the Swiss derivatives market, merged with Germany's DTB to form Eurex. Eurex is jointly operated by Deutsche Boerse AG and SIX Swiss Exchange, which holds 50 percent of the voting rights and 15 percent of the share capital. The agreement was extended for a further 10 years in 2003.

The SIX New Market segment for growth companies was launched in 1999, with the Virt-X platform for pan-European blue-chip stocks launched in 2001. The SIX Swiss Exchange changed its legal status from an association to a joint-stock company in 2002.[3]

The Exchange announced in early March 2011 that they expanded their transparency tool, Equity Liquidity Matrix, to include all SPI Securities. With service to the Mid & Small Cap Securities, the SIX Swiss Exchange aims to further increase market transparency and educate the public on the negative effects of market fragmentation. [4]

Products and Services

Product categories include equities, bonds, exchange-traded funds (ETFs), structured products and warrants. As of 2012, SIX Swiss Exchange is the third largest exchange in Europe by market capitalization, behind LSE Group and NYSE Euronext.

Key People

News

In 2008, SIX Swiss Exchange, SWX Europe and Scoach Switzerland Ltd. recorded annual turnover of CHF 1,934 billion representing a 23.5 percent decline compared to the extremely heavy trading witnessed in 2007. In contrast the total of transactions rose to an all-time-high of 45,212,001 – a 27.9 percent increase versus the previous year. Bond turnover increased by 24.4 percent on an annual basis, with ETFs registering a full 36.8 percent gain.

SIX Swiss Exchange said in November of 2008 that it planned to cut 40 jobs as it relocated its London operations to Zurich in mid-2009, which would result in a savings of 15 million Swiss francs ($12.74 million) a year.[5]

In December of 2012 it became known that Six Group had agreed to a deal to acquire 100 percent of of Oslo Clearing from Oslo Børs for NOK 180 million (approximately $32 million). The deal, which would go through in the second quarter of 2014, was subject to regulatory approval.[6][7]

On July 6, 2018 SIX announced plans to launch a fully regulated cryptocurrency exchange to be overseen by the Swiss national bank and Swiss regulator FINMA. Switzerland has been one of the most crypto-friendly jurisdictions in Europe, and its regulators have given clear guidance on how they expect crypto companies to operate.

Resources

References

  1. SIX Swiss Exchange. STOXX.com.
  2. Organisation by Business Fields. SIX Swiss Exchange.
  3. History. SWX.
  4. SIX Swiss Exchange enhances transparency tool. Automated Trader.
  5. Swiss Exchange shuts London business, cuts 40 jobs. Yahoo! Finance.
  6. Six Agrees to Acquire Oslo Clearing from Norway Børs. Waters Technology.
  7. Press Release. Bobs Guide.