Swiss Exchange

Milestones
The SIX Swiss Exchange goes back more than 150 years. In 1996, fully electronic trading replaced the traditional floor trading system at the stock exchanges of Geneva (founded in 1850), Zurich (1873) and Basle (1876).

The recent history of the SIX Swiss Exchange is marked by the following highlights:

2009

• Trading in the 32 Swiss blue chip stocks (i.e. the shares included in the Swiss Market Index and Swiss Leader Index), which today is operated on SWX Europe in London, will be relocated to SIX Swiss Exchange in Zurich by mid 2009. This measure will simplify the regulation and compliance for issuers, market participants and SIX Swiss Exchange itself.
  
• SIX Swiss Exchange launches SWXess, the sucessor to its previous trading platform, offering substancially increased capacity, lower latency and a tailor-made connectivity service for member banks.
  

2008

• SIX Swiss Exchange launches a new information portal in November. The website are geared also to private investors.
  
• In October 2008 SIX Swiss Exchange and SWX Europe cut trading fees by a massive 30%.
  
• SWX Swiss Block, the non-displayed liquidity service and first "Dark Pool" in Europe, was established by SWX Europe, SWX Group's London based exchange.
  
• The SMI® stock exchange barometer celebrated its 20th year of existence. The Swiss Market Index (SMI®) was published for the first time on 30 June 1988 at an initial level of 1500 points.
  
• In April SIX Swiss Exchange and SWX Europeintroduced a new simplified and transparent tariff model and a fee cut of 15%
  
• In January 2008, the three Swiss financial market infrastructure providers SWX Group, SIS Group and Telekurs Group merged to become Swiss Financial Market Services AG. In
• August 2008, the new company was rebranded SIX Group.
  

2007

• Scoach Switzerland Ltd, the exchange for securitised derivatives, commences operation
  
• Introduction of a Central Counterparty (CCP) for SWX Swiss Exchange
  

2006

• SWX Group and Deutsche Börse found SWX Quotematch AG exchange
  
• Turnover hits new all-time high
  
• Prof. Dr. Gomez succeeds Dr. Reto Francioni as Chairman of the Board
  

2005

• Quotematch: launch of a new high-performance system for trading in securitised derivatives
  
• First listing of an international bond under the SWX's new additional rules
  
• "EU-compatible" listing segment for Swiss blue chips
  
• Sponsored Segment at the SWX Swiss Exchange
  
• VSMI® - Volatility Index on the SMI®
  
• Acquisition of Bremer Wertpapierbörse
  

2004

• Introduction of the SXI® Family. This family of indices offers domestic and foreign companies a venue for industry- and size-specific sectors
  
• The SWX Swiss Exchange launches the indices SMIM® and the SMI Expanded®
  
• New regulations for disclosure of management transactions on SWX Swiss Exchange
  

2003

• virt-x is fully taken over by the SWX Swiss Exchange
  
• Agreement with Eurex is extended by 10 years
  
• Publication of sanctions imposed by the Executive Committee of the Admission Board on the SWX Swiss Exchange website
  

2002

• ETFs, previously only traded on the SWX Platform, are also admitted to trading on virt-x
  
• The SWX Swiss Exchange changes its legal status from an association to a joint-stock company
  
• Dr. Reto Francioni replaces Dr. Jörg Fischer as chairman of the Board
  
• The Directive on Corporate Governance enters into force
  
• Introduction of Internet Based Listing (IBL)
  

2001

• The SWX Group (SWX Swiss Exchange, Eurex, virt-x, STOXX, EXFEED) is established
  
• Launch of the virt-x blue-chip exchange on 25 June
  
• Launch of EXFEED, the European provider of raw financial data, on 25 June
  
• Introduction of TIF
  
• Introduction of the SIX Swiss Exchange Local Caps and Real Estate Companies segments
  

2000

• Launch of SNMI, the SWX New Market Index
  
• The SWX Swiss Exchange and Tradepoint enter into exclusive negotiations on cooperation
  
• Trading in SWX Eurobonds denominated in GBP and JPY
  
• virt-x project for the first pan-European blue-chip exchange is unveiled to the public.
• Cooperation agreements are signed
  
• Existing SPI sector breakdown is supplemented with an industry group classification like that of the Dow Jones STOXX indices
  
• SWX Repo is integrated into Eurex
  
• Maximum number of SMI stocks is increased from 25 to 30
  
• New SWX organisational structure: a Group management is created to coordinate the activities and strategy of the SWX Swiss Exchange and its associated companies
  
• Launch of the ETF segment
  
• Record turnover of CHF 1,324,512 million
  
• 28 IPOs
  

1999

• Admission of participants from Germany, the United Kingdom and France
  
• First foreign branch abroad is opened in London
  
• Inauguration of SWX Repo, the world's first fully integrated, electronic repo trading platform
  
• Start of the SWX New Market segment for growth companies
  
• EUR-denominated bonds first traded on SWX Eurobonds
  
• Eurex is the world's largest options and futures exchange
  
• Introduction of the name "SWX Swiss Exchange"
  

1998

• Merger of the Swiss and German derivatives markets (SOFFEX and DTB) to form Eurex, the first transnational derivatives exchange
  
• Foundation of STOXX Limited, a joint venture of SWX, Deutsche Börse AG and Dow Jones & Company
  
• SWX, Deutsche Börse AG, ParisBourseSBF and Dow Jones & Company launch DJ STOXX Indices, the European index family for equities
  
• Trading starts in SWX Eurobonds in USD-denominated bonds
  
• The Investment Companies segment is introduced
  
• 17 IPOs
  
• The Disclosure Office commences operations
  
• The Investment Companies segment is introduced
  

1997

• A record year: the SMI rises by 59 %
  
• 1,000 new securities are listed
  
• 12 IPOs; turnover tops CHF 1,000 billion
  
• SESTA enters into effect
  

1996

• Electronic trading in Swiss equities and options is introduced on 2 August, that in bonds on 16 August; floor trading is discontinued
  
• Inauguration of the fully automated trading, clearing and settlement system
  
• Considerable increase in liquidity
  
• The bid/ask spreads for blue chips narrow from 0.2 to 0.15 percentage points
  
• Ad hoc publicity is introduced
  

1995

• Switzerland's three stock exchanges in Geneva, Basle and Zurich are merged to form the SWX
  
• Electronic trading in foreign equities is introduced on 8 December
  
• SESTA is adopted by the Federal Assembly of the Swiss Confederation