valid as of 20 February 2017
Product Guide - Equity Market
Blue Chip Shares
Mid-/Small-Cap Shares
Secondary Listing Shares
Sponsored Foreign Shares
Separate Trading Lines
Rights and Options
SIX Swiss Exchange
SIX Swiss Exchange
SIX Swiss Exchange
SIX Swiss Exchange
SIX Swiss Exchange
SIX Swiss Exchange
International Reporting Standard
International Reporting Standard
Swiss Reporting Standard
Standard for Investment Companies
Standard for Real Estate Companies
Standard for Depository Receipts
International Reporting Standard
SIX Swiss Exchange Sponsored Segment
International Reporting Standard
Swiss Reporting Standard
Standard for Investment Companies
Standard for Derivatives
Market Model
Central Limit Order Book
(CLOB)
Central Limit Order Book
(CLOB)
Central Limit Order Book
(CLOB)
Market Maker Book
(MMB)
Central Limit Order Book
(CLOB)
Central Limit Order Book
(CLOB)
Order Types
Normal and Iceberg Orders
Normal and Iceberg Orders
Normal and Iceberg Orders
Normal Orders and Quotes
Normal Orders
Normal Orders
Yes
Yes
No
No
No
No
30
10
10
5
10
10
Trading Hours
09:00 - 17:30 CET
09:00 - 17:30 CET
09:00 - 17:30 CET
09:00 - 17:30 CET
09:00 - 17:30 CET
09:15 - 17:15 CET
Continuous Trading
09:00 - 17:20 CET
09:00 - 17:20 CET
09:00 - 17:20 CET
09:00 - 17:20 CET
09:00 - 17:20 CET
09:15 - 17:15 CET
Closing Auction
17:20 - 17:30 CET
17:20 - 17:30 CET
17:20 - 17:30 CET
17:20 - 17:30 CET
17:20 - 17:30 CET
None
Randomised Opening
2 Minutes
09:00 - 09:02 CET
2 Minutes
09:00 - 09:02 CET
2 Minutes
09:00 - 09:02 CET
2 Minutes
09:00 - 09:02 CET
2 Minutes
09:00 - 09:02 CET
2 Minutes
09:15 - 09:17 CET
Exchange
Regulatory Standard
Self-Match Prevention
Trading Hours
Order Book Depth
2 Minutes
17:30 - 17:32 CET
2 Minutes
17:30 - 17:32 CET
2 Minutes
17:30 - 17:32 CET
2 Minutes
17:30 - 17:32 CET
2 Minutes
17:30 - 17:32 CET
None
A standard round lot is equivalent to
the smallest tradeable denomination
A standard round lot is equivalent to
the smallest tradeable denomination
A standard round lot is equivalent to
the smallest tradeable denomination
A standard round lot is equivalent to
the smallest tradeable denomination
A standard round lot is equivalent to
the smallest tradeable denomination
A standard round lot is equivalent to
the smallest tradeable denomination
Randomised Closing
Round Lot
Price Increments
Price Steps
On Exchange
Off Order Book
Trading Interruptions
Stop Trading in Opening
Stop Trading
Continuous Trading
Clearing & Settlement
through
through
through
through
through
through
through
through
through
through
10'000
and above
0.4999
0.9995
4.999
9.995
49.99
99.95
499.9
999.5
4'999
9'995
No Stop Trading
Interruption of 5 mins., if potential follow up price
deviates by 1.50% or more from the reference price
0.0001
0.0005
0.001
0.005
0.01
0.05
0.1
0.5
1
5
0.01
10.00
100.00
250.00
500.00
1'000.00
5'000.00
through
through
through
through
through
through
and above
9.99
99.95
249.90
499.75
999.50
4'999.00
0.01
0.05
0.10
0.25
0.50
1.00
5.00
0.01
10.00
100.00
250.00
500.00
1'000.00
5'000.00
through
through
through
through
through
through
and above
9.99
99.95
249.90
499.75
999.50
4'999.00
0.01
0.05
0.10
0.25
0.50
1.00
5.00
10
0.0001
through
0.4999
0.0001
0.5
through
0.9995
0.0005
1
through
4.999
0.001
5
through
9.995
0.005
10
through
49.99
0.01
50
through
99.95
0.05
100
through
499.9
0.1
500
through
999.5
0.5
1'000
through
4'999
1
5'000
through
9'995
5
10'000
and above
10
If security is listed on a FESE Exchange and admitted to trading on
SSX in the base currency of the primary listing, the corresponding
FESE Tick Size table applies.
Interruption of 15 mins., if potential follow up price
deviates by 2.00% or more from the reference price
SMIM Securities
Interruption of 5 mins., if potential follow up price
deviates by 2.00 % or more from the reference price
Volatile Securities ●
Interruption of 5 mins., if potential follow up price
deviates by 10% or more from the reference price
Interruption of 5 mins., if potential follow up price
deviates by 2.00% or more from the reference price.
Volatile Securities ●
Interruption of 5 mins., if potential follow up price
deviates by 10% or more from the reference price
Interruption for a 5 minutes period if a trade
between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted
as soon as quotes are posted.
0.01
independent of market price
0.01
10.00
100.00
250.00
500.00
1'000.00
5'000.00
through
through
through
through
through
through
and above
9.99
99.95
249.90
499.75
999.50
4'999.00
No Stop Trading
No Stop Trading
No Stop Trading
No Stop Trading
No Stop Trading
No Stop Trading
Interruption if potential follow up price deviates
by more than the Stop Trading Range
from the reference price within a 10 second period.
Benchmark for Avalanche equal to
Stop Trading Continuous Trading
Interruption if potential follow up price deviates
by more than the Stop Trading Range
from the reference price within a 10 second period.
Benchmark for Avalanche equal to
Stop Trading Continuous Trading.
Interruption if potential follow up price deviates
by more than the Stop Trading Range
from the reference price within a 10 second period.
Benchmark for Avalanche equal to
Stop Trading Continuous Trading
No Stop Trading
Non Opening
Yes
Yes
Yes
Yes
Yes
Yes
Underlying Condition
No
No
No
No
Interruption if underlying intrument
is in stop trading.
Interruption if underlying intrument
is in stop trading.
Limit for duty
to trade on order book
None
Avalanche
Continuous Trading
None
CHF 200'000.--
None
None
None
Reporting duty
Yes
Yes
Yes
Yes
No
(off order book transactions not allowed)
Yes
Reporting Time
3 minutes
3 minutes
3 minutes
3 minutes
None
3 minutes
Deferred publication on request
for trade reporting based on ADT Delay
Deferred publication on request
for trade reporting based on ADT Delay
Deferred publication on request
for trade reporting based on ADT Delay
Deferred publication on request
for trade reporting based on ADT Delay
Immediate Publication
Immediate Publication
RONC - Rights and Options (not cleared)
Publication
C&S Segment Code
Settlement Cycle
BCCS - Shares Blue Chips (cleared by all CCPs)
MSCS - Mid-/Small Caps (cleared by all CCPs)
SHNC - Shares and Funds (not cleared)
SSNC - Sponsored Shares (not cleared)
SHMA - Shares and Funds (manual)
SHNC - Shares and Funds (not cleared)
T+2
T+2
T+2
T+2
T+2
1st Trading Day: T+2
As of 2nd Trading Day: T+1
Yes
Settlement Eligible
Yes
Yes
Yes
Yes
SHMA: No
SHNC: Yes
Clearing Eligible
Yes
Yes
No
No
SHMA: No
SHNC: No
No
No
Yes
Yes
Yes
Yes
Yes
♦
♦
♦
Counterparty Disclosure
Appendix
0.0001
0.5
1
5
10
50
100
500
1'000
5'000
0.01
0.05
0.10
0.25
0.50
1.00
5.00
♦ Substantial price movements in a security will possibly cause a change in the stop trading category. SIX Swiss Exchange will inform all participants of changes via a SIX Swiss Exchange Message.
● Securities with a reference price smaller than CHF 10.00 respectively 10%
SIX Swiss Exchange Ltd
Selnaustrasse 30
Postfach
CH-8021 Zürich
T +41 58 399 5454
F +41 58 499 2233
www.six-swiss-exchange.com