SIX Reports Overall Slowdown in April Trading, Crypto Demand Gains

The exchange recorded a trading volume of CHF 109.8 billion, which is 20.6 percent lower than March.

Switzerland’s stock exchange, SIX released its trading data for April, showing a 20.6 percent decline in demand month-over-month. The exchange recorded a trading turnover of CHF 109.8 billion for the month.

The official data shows that there was a decline in most of the key trading metrics. The trading volume decline was triggered by a lesser trade execution number, which came in at 5,148,483 for April and is 19.4 percent lower than the previous month.

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Demand for equities and exchange-traded funds (ETFs) dominated with 4,925,792 trades being executed, bringing a total turnover of CHF 90.8 billion. CHF and non-CHF bonds generated volumes of CHF 9.2 billion and CHF 1.79 billion, respectively.

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Additionally, the decline in trading demand can be observed in the numbers of the first four months of the ongoing year. The total turnover generated from the trading activities from January to April came in at CHF 486.8 billion, which is 34 percent less than what the exchange recorded in the same period last year.

However, it should be noted that the trading venues across the globe earned a windfall in March 2020 due to the financial market turmoil created by the Covid-spurred volatility. Those record monthly numbers not only impacted the quarterly financials of exchanges but also dragged the yearly revenue and profits. The operating income of the exchange jumped by 21.8 percent last year.

Crypto Demand Soars

SIX is one of the few traditional exchanges listing many cryptocurrency products as well. These products generated a turnover of CHF 845.8 million, which is 36 percent higher than the previous month. Furthermore, since the beginning of this year, demand for crypto products jumped by 194 percent. Last month, Finance Magnates reported that Seba bank joined the Swiss exchange to list crypto ETPs.

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