SIX Swiss Exchange Reports Third Consecutive Month of Trade Revenue Declines

The decrease in trading revenue comes in spite of a 3.5 percent month-on-month increase in transactions.

Switzerland’s principal exchange, the SIX Swiss Exchange, has released its trading data report for June on Tuesday. The report shows a decrease in trading turnover, echoing the month-on-month decline in trading revenue for April and May.

In June, trading turnover was reported at CHF 1117.3 billion, a 1.4 percent decrease from the previous month. The decrease in trading revenue comes in spite of a 3.5 percent month-on-month increase in trades, standing at 4,918,114 transactions for June.

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In 2017, June reported an increase of 1.5 percent in trading revenue to reach CHF 733.5 billion. In addition, the number of transactions had risen by a significant 21.6 percent to more than 31,555,682 in 2017.

According to the statement, the most notable drop in transactions and trading volume goes to bonds not listed in CHF. So far in 2018, only 8,102 trades have been made, which is a decrease of 34% from the same period last year.

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June 15 was the peak day of trading in terms of volume. CHF 9.9 billion worth of securities changed hands. Nestle N had the highest turnover in June, and it was the most-traded security. On the other hand, the trading day with the highest number of transactions was June 27, clocking 277,366 trades.

In February this year the average daily trading turnover was CHF 6.1 billion, but due to lackluster figures in the past three consecutive months, the exchange is currently at a pace of CHF 6 billion in average daily turnover since the beginning of 2018.

Nonetheless, a total of 31,555,682 trades have been made this year, which is an increase of 21.6 percent year-on-year. However, the value of the total trades has only increased by 1.5 percent.

Listing boom

Although trading revenue might be going through a trough at the moment, listings on the exchange are peaking. With the addition of Lalique Group SA on the exchange on June 25, there have already been more listings this year than in the total of 2017. Six other companies have also opted for a listing on the exchange for 2018: Klingelnberg, Polyphor, CEVA Logistics, Medartis, Sensirion, and ASMALLWORLD.

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