Participation

The SIX Swiss Exchange operates a fully integrated trading and clearing system for shares, national and international bonds, warrants, investment funds and ETFs. The Trading System supports two forms of trading:

• Central order book
• Central order book supported by quotes

Exchange participants at the SIX Swiss Exchange enjoy the following benefits:

• High liquidity due to the concentration of all orders in a single order book
• Fair and transparent pricing procedures due to guaranteed best-price execution and prioritisation
• High system availability and short response times
• High savings potential due to integrated clearing and settlement processes
• Low trading and clearing costs
• Connectivity as a market maker for certain products with a guaranteed and exclusively reserved quoting capacity

Remote Participation

Foreign banks and brokers can participate directly in trading on the SIX Swiss Exchange as so-called remote participants, who have the same infrastructure as SWX participants and enjoy the same benefits.

Reporting requirements

All Exchange participants are subject to the Federal Act on Stock Exchanges and Securities Trading (Stock Exchange Act, SESTA).

Relevant reporting documents:

Description	Download
The reporting requirement for securities dealers pursuant to Art. 15 SESTA Dissertation in connection with the Executive Program of the Swiss Banking School
FBC-M. 18 (2001), (unofficial translated version)
Reporting requirements, technical procedures
Financial instruments subject to stamp duty
Regulatory Framework conditions for Swiss SWX Europe participants