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Switzerland (Swiss) Stock Exchange |
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The Swiss Stock Exchange or SWX is the 6th largest stock security exchange in the world and the 3rd largest stock exchange in Europe. The SWX is based in Zurich. It is the automated stock exchange system resulting from the merger between Basle, Geneva and Zurich stock exchanges. The market index of SWX is primarily the Swiss Market Index which comprises the country’s 30 major equity securities. The Swiss Stock Exchange and Securities Trading Act of 1995 governs the Swiss Stock Exchange. This act contains provisions on the requirements and duties of companies listed in the SWX.
SWX has been certainly innovative, with a fully integrated and electronic trading platform. The Swiss Stock Exchange deals with stocks, warrants and bonds that are regularly traded; although, SWX also deals with other securities aside from stocks including government bonds and other derivatives like stock options. The SWX has been providing services for trading of Eurobonds since 1998. SWX is known for its products, especially the Swiss Index group of market indicators, which includes the Swiss Market Index, Swiss Performance Index, and the Swiss Bond Index.
SWX has adopted necessary measures in order to improve its stock reporting guidelines. The purpose of these measures is to reduce or eliminate the probability of inside trading. The SWX now requires listed companies to report transactions totaling $79,000 which was made by any member of their company’s management.
The SWX has recorded high trading volume and turnover in the year 2006, which exceeded the usual turnover and trading rates. Apparently, there was an increased in derivative security trading with a turnover growth of 49% and trading volume growth of 62%. There was also a considerable turnover growth in international bonds of 25.5%
In January 2007, the Swiss Stock Exchange implemented new rules which are intended for bringing about changes in the procedures and benefits to issuers, traders and stock exchange participants.
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