SIX Swiss Exchange Records 13% Drop in Turnover amid Declining Transactions

<p>SIX Swiss Exchange reported
a decrease in trading turnover for 2023 to CHF 1,046.3 billion from CHF 1,208.1
billion reported in the previous year. According to a statement released by the exchange today (Wednesday), the platform witnessed a downturn in transaction volumes,
reaching 46,094,349 from the previous 60,810,665.</p><p>Listing Activities and Market Expansions</p><p>Ten companies chose the <a href="https://www.financemagnates.com/tag/six-swiss-exchange/" target="_blank" rel="follow">SIX Swiss Exchange</a> for equity
listings, aggregating approximately CHF 2.2 billion in transaction volume.
Notably, the listing of Sandoz, a spin-off from Novartis, marked a significant
event with a market capitalization of around CHF 10.5 billion. </p><p>Additionally, the introduction of R&amp;S Group via
a business combination with VT5 Acquisition Company highlighted the addition of
the first Swiss Special Purpose <a href="https://www.financemagnates.com/terms/a/acquisition/">Acquisition</a> Company to the entities listed on SIX.</p><p>SIX's listed companies utilized the
Swiss capital market, raising around CHF 8.3 billion through equity capital. Debt capital instruments, especially bonds, experienced substantial activity. Around CHF 116 billion was raised through these instruments. This figure surpassed the CHF 100 billion mark for the second consecutive year.</p><p>BME Exchange's Trading Volumes </p><p>BME Exchange posted an uptick in trading volume,
closing the year with 2.29 billion trades. This represents an increase of 2.1%
from the previous year. The platform's market capitalization surged by 16.8% to 1.2
trillion euros.</p><p>The fixed-income markets at BME registered a
significant increase in new funding, amounting to EUR 405 billion. This marked a boost of 8.7%, driven by the new Securities Markets Act. Besides that, the introduction of BME
Growth welcomed ten new companies. </p><p>Last year, the SIX Swiss <a href="https://www.financemagnates.com/terms/e/exchange/">Exchange</a> <a href="https://www.financemagnates.com/forex/six-broadens-reach-with-etf-qod-europe-launch/" target="_blank" rel="follow">launched ETF QOD Europe</a>, according to a report by <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a>. This service aims to enhance
the trading experience across various European markets, including the London
Stock Exchange, Euronext, and Nasdaq Stockholm. </p><p>Catering to the increasing demand for diverse
execution mechanisms, SIX's ETF QOD Europe aims to enhance liquidity, offer
better prices, and expand listings.</p><p>This approach, which involves collaboration with CCP
SIX x-clear, Cboe Clear Europe, and LCH Ltd, mitigates counterparty risk,
streamlines settlement processes, and optimizes costs for trading participants, the exchange said.</p>

This article was written by Jared Kirui at www.financemagnates.com.