The Switzerland Stock Exchange (SIX), released its trading numbers yesterday for May 2021. The exchange reported a drop in the trading turnover for the last month as the number reached CHF 93.5 billion, which is down by 14.8% compared to April 2021.
Additionally, the total number of transactions dipped significantly during the last month. According to the official press release, SIX saw a total of 4,554,218 transactions in May 2021, which is a drop of nearly 11.5% compared to the previous month.
The exchange saw the highest single-day trading volume on 27 May. Approximately 292,500 trades were executed on 4 May, which was the highest level in the last month. NESTLE remained the most popular stock with a trading turnover of CHF 7 billion for May 2021.
“In May, products with cryptocurrencies as underlying reached a trading turnover of CHF 1.2 billion, a new monthly record. This corresponds to a 38% increase over the previous month. In total 48,297 trades were concluded, a month-on-month plus of 59%, and 86 crypto products traded. The ten most traded products were all ETPs, with AETH on Ethereum topping the list with CHF 204.7 mn turnover and 7,547 transactions,” SIX mentioned in the announcement.
Gold Prices Look for Signs of Life After Weekly Sell-OffGo to article >>
In April 2021, SIX reported a slowdown in trading volume as the total trading turnover touched 109.8 billion, which is a drop of 26% compared to March 2021.
SIX has gained popularity in the cryptocurrency market since the start of 2021. Leading crypto ETP issuers from different parts of the world joined the exchange to launch their products related to digital assets. In January 2021, a London-based financial services company, ETC Group joined SIX to list a Bitcoin exchange-traded product (ETP) with a primary ticker symbol of BTCE. CoinShares, one of the leading digital asset managers, launched a Bitcoin ETP on SIX earlier this year.
In April 2021, SEBA Bank, one of the most popular financial companies in Switzerland, became the latest firm to join the Switzerland Stock Exchange as a crypto ETP issuer.