SIX Swiss Exchange Posts 4% Dip in Trading Turnover for February 2022

Yesterday, SIX Swiss Exchange published its trading volumes for February 2022 and witnessed a drop of almost 4% month-on-month in trading turnover. The total number of trades stood at 5,676,276, which is 2.6% lower compared to the previous month.

On 24 February, the exchange saw a total volume of CHF 8.2 billion, the highest single-day trading turnover for the reported period. Additionally, SIX witnessed the highest number of trades on 24 February as 458,904 trades were executed on the mentioned date.

“The stock that generated the highest turnover during the reporting month was NESTLE N with CHF 8.8 billion; NOVARTIS N was the most traded stock with 316,264 transactions,” SIX Swiss Exchange noted.

Amid global volatility and rising interest from investors, SIX Swiss Exchange has witnessed a rise in trading activity during the last two years. With the launch of crypto products, the exchange has gained popularity among traders of the emerging asset class.

Crypto Products

During the last month, AETH, an ETP on Ethereum, generated the highest crypto products-related turnover for SIX. Moreover, the mentioned product accounted for the highest number of transactions.

“In February, products with cryptocurrencies as underlying reached a trading turnover of CHF 296.4 million. In total, 175 products were traded, and 17,735 transactions were concluded. The highest turnover and the most transactions were recorded by AETH, an ETP on Ethereum, with CHF 54.4 million and 2,042 trades,” SIX added.

SIX is gradually becoming a hub for the trading of crypto products. In September last year, SIX Digital Exchange received regulatory approval from FINMA, the Swiss Financial Market Supervisory Authority, to operate a Stock Exchange and a central securities depository for digital assets in Switzerland. Earlier this year, FQX announced a collaboration with SIX Digital Exchange for blockchain-based short-term debt instruments.