Trading on the Swiss stock exchange SIX in 2015 was brisk, with a new one-day record reached in January. The change of CEO seems to have had little impact on the business of the company.
Trading on the SIX Swiss Exchange increased 20 percent to 1,372.5 billion francs, with an average daily turnover of 5.5 billion, the operator of Zurich's stock market said in a statement on Monday. On January 15, 2015, the day when the central bank announced it would do away with the euro-franc exchange rate cap, SIX recorded the biggest turnover ever, with 27.7 billion francs.
The number of trades in 2015 rose a third to 51.5 million, with a daily average of 205,352. Again on January 15, 949,988 trades were executed, which compares with a previous record of 392,587 on August 9, 2011.
Stress Test
«We ensured that business was conducted in an orderly manner at all times and that all trades could be settled on time,» said Christoph Landis, CEO of SIX Swiss Exchange, referring to the record trading day of January 15. «We therefore successfully passed a stress test with our system.»
SIX also celebrated two anniversaries last year. The exchange listed the first Exchange Traded Funds (ETFs) 15 years ago. The segment reached a milestone in February, with 1,000 ETFs tradeable listed on the exchange. Today, more than 1,100 index products by 20 issuers are on offer. Trading turnover increased by 6 percent to 96.3 billion. The company also celebrated 20 years of fully electronic stock exchange trading
Markets surprised
Even as trading on the Zurich exchange developed at a great pace, the chief executive left the company. Christian Katz in April surprised the market with his departure following disagreements within the company. SIX replaced Christian Katz with Christoph Landis first on a temporary basis before making the appointment permanent in November.
