Thursday February 18 2021

News Source: Global Exchanges

Focus: Trading Systems and Technology

Type: General

Country: Switzerland

Link: https://bit.ly/2ZrFPQF




On 15th February 2021, the Swiss Stock Exchange (SIX) announced that with the introduction of Swiss EBBO (European Best Bid and Offer), SIX improves equity trading in a unique and innovative way, further strengthening its competitiveness and status as the best place to trade Swiss shares.

Swiss EBBO is the latest example how the Swiss Stock Exchange continues to innovate to meet the needs of its highly diverse client base while strengthening the quality of its marketplace and preserving its unique mix of liquidity.

Unique Implementation

Swiss EBBO introduces a supplemental liquidity book. It is operated in addition to the lit Central Limit Order Book (CLOB) and the non-displayed liquidity pool SwissAtMid. All three order books can be accessed simultaneously with a single order.

This unique setup improves access to best price and depth of liquidity in a fragmented and highly technical environment. It reduces the complexity related to order routing to multiple venues and risks such as latency delays or information leakage.

Superior Efficiency

In the Swiss EBBO order book, designated Liquidity Providers offer prices at the European Best Bid and Offer, or EBBO. To assist participants with their best execution reporting obligations, the Swiss Stock Exchange provides T+1 execution analysis and reports. An independent service provider determines the European Best Bid and Offer (EBBO) and compares the prices provided by Liquidity Providers.

More information on the multiple benefits and key aspects of Swiss EBBO as well as details on the market model, order types and routing instructions are available on our website.

The Home of Swiss Liquidity

Switzerland is home to an attractive share universe of over 250 companies, including three of the five biggest in Europe. As their reference market, the Swiss Stock Exchange consistently offers the best prices and the narrowest spreads in combination with the largest volumes.

Click on the above link for further information.