SIX Swiss Exchange, a firm in the ETF industry for over two decades, has introduced ETF QOD Europe to provide a comprehensive trading experience. This new service allows users to trade instruments from various European markets, including the London Stock Exchange, Euronext Amsterdam, Euronext Brussels, Euronext Paris, Deutsche Börse XETRA, Borsa Italiana, Wiener Börse AG, or Nasdaq Stockholm AB.
Cross-EU Trading with ETF QOD Europe
ETF QOD Europe positions SIX as a regulated exchange operator, offering access to approximately 6,000 ETFs and ETPs on its on-exchange Request for Quote (RFQ) platform.
The platform aims to enhance liquidity, provide better prices, and offer more listings, with over 95% of trades executing at the European Best Bid Offer or better. According to the firm, this development aligns with SIX Swiss Exchange's commitment to innovation, efficiency, and best execution in ETF trading. ETF QOD Europe additionally facilitates efficient cross-EU trading, accelerates transaction processing through automation, and lowers execution fees.
Christian Reuss, the Head of SIX Swiss Exchange, stated: "SIX Swiss Exchange has been a trailblazer in the ETF industry for over 20 years. The launch of ETF QOD Europe reaffirms our commitment to innovation, providing a unique, cross-market trading experience for our users. We believe this groundbreaking service will set a new standard in the European ETF landscape.”
“ETF QOD Europe not only expands the variety of ETF products available but also addresses the need for a greater variety of execution mechanisms to satisfy best-execution in ETF trading. The service offers a high level of liquidity, execution quality, and pricing, making it a game-changer for both traders and asset managers."
Addressing Demand: Diverse Execution Mechanisms in Focus
In collaboration with internal CCP SIX x-clear, Cboe Clear Europe, and LCH Ltd, ETF QOD Europe ensures on-exchange straight-through processing, CCP clearing, and settlement into various European central securities depositories. This interoperable approach eliminates counterparty risk, enhances settlement efficiency, and optimizes costs for trading participants.
The service addresses the demand for diverse execution mechanisms, offering high liquidity, execution quality, and pricing. Laura Bayley, the Head of SIX x-clear, and Vikesh Patel, the President of Cboe Clear Europe, expressed their support for this innovative service, highlighting its benefits for market participants in terms of processes and reduced costs.
