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15 February 2017

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SLS includes two additional European markets

The internationalization of the SIX Swiss Exchange Liquidnet Service (SLS) provides participants with yet more options for non-displayed trading.

As of today, SLS supports trading in both Italian and Norwegian equities. This extension adds over 400 shares to the universe of tradable instruments, and brings the total number of markets supported by SLS to 13. Equities from the new markets Italy and Norway can be traded with all of the benefits of the other SLS markets Switzerland, UK, France, Germany, Belgium, the Netherlands, Finland, Sweden, Denmark, Portugal and Austria:

  • Largest average trade size of any exchange run block trading pool in Europe
  • Full CCP clearing and settlement
  • Through the partnership with Liquidnet, access to a unique and differentiated liquidity pool

Fabrice Casanova (Head of electronic market solutions, Pictet Global Markets), comments: "After having connected to SLS in July 2016, we and our clients are very happy with the service so far. That's why we welcome this market extension and the additional opportunities it provides." Headquartered in Geneva, Pictet ranks among Switzerland's leading private banks.

Rob Cranston, Head Equity Products SIX Swiss Exchange, commented: "Best execution and price improvements for our clients are on the top of our agenda. By expanding our offering for non-displayed trading, we are reacting to growing demand and laying the tracks for future growth opportunities."

Responding to client needs

The SLS market extension underlines the efforts of SIX Swiss Exchange to provide its participants with more options to satisfy their growing need for non-displayed trading. In 2016, SLS has seen rising volumes and additional members have connected to the service, such as Societe Generale, Kepler Cheuvreux and Pictet.

Furthermore, the exchange has launched SIX Swiss Exchange At Midpoint (SwissAtMid), which is operated in parallel to SLS, in October 2016. SwissAtMid offers an innovative new way to trade Swiss equities, allowing executions in a non-displayed pool at the mid-point of our lit order book. And the new Sweep order type looks for an execution in SwissAtMid before routing to the lit order book - all in one cycle.

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