SIX Swiss Exchange Introduces Mid-Point Pricing Service

SIX Swiss Exchange has launched SIX Swiss Exchange At Midpoint (SwissAtMid) as part of SWXess Maintenance Release (SMR6), a new service which allows Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of Swiss equities in a non-displayed pool at the mid-point of its lit order book.

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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, enabling participants to choose how they wish to interact with the outstanding Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term on SIX Swiss Exchange.

Sweep orders look for an execution in SwissAtMid first prior to routing to the lit order book. Since this happens in one cycle, Sweep orders have no negative impact on latency and contain no risk of opportunity loss.

Christian Reuss, Head Sales & Product Management at SIX Swiss Exchange, commented: "Innovation is one of our strategic cornerstones. We aim to offer new services that allow our clients to tap into additional growth opportunities. By combining the performance of our book and the interaction between the lit and non-display order book, SwissAtMid offers new way to trade Swiss equities.”

Best Execution and Price Improvements

With the launch of SwissAtMid, SIX Swiss Exchange caters to the increasing demand for non-displayed trading and answers to clients' needs for best execution and price improvements.

SwissAtMid is operated in conjunction with SLS, the long-standing partnership between SIX Swiss Exchange and Liquidnet which offers block liquidity in a pan-European securities universe with unrivalled average execution size and minimal market impact.

Finance Magnates last reported on this partnership in July after SIX Swiss Exchange connected Swiss private bank, Pictet to its SLS Liquidnet Service.

Rob Cranston, Head Equity Product Management, added: "Concentrating more liquidity on our exchange is beneficial for all of our various types of trading participants. By combining a non-displayed mid-point order book with a primary market lit book, SwissAtMid offers them the best of both worlds. The new Sweep orders offer the potential for price improvement with no drawbacks”.