In 2023, the SIX Swiss Exchange reported a decline in trading turnover, with figures dropping from CHF 1,208.1 billion the previous year to CHF 1,046.3 billion.
This downturn in trading activity was underscored by a decrease in transaction volumes, which totaled 46,094,349 compared to the previous year’s 60,810,665, according to a statement released on Wednesday.
Despite this overall decline, the exchange saw the listing of ten companies, contributing approximately CHF 2.2 billion in transaction volume.
The listing of Sandoz, a spin-off from Novartis, was a noteworthy event with a market capitalization of around CHF 10.5 billion.
Another notable addition was R&S Group, introduced through a business combination with VT5 Acquisition Company, making it the first Swiss Special Purpose Acquisition Company (SPAC) listed on SIX.
SIX’s listed companies actively utilized the Swiss capital market, raising around CHF 8.3 billion through equity capital.
Meanwhile, debt capital instruments, particularly bonds, experienced substantial activity, with approximately CHF 116 billion raised through these instruments, marking the second consecutive year this figure surpassed CHF 100 billion.
In contrast, BME Exchange experienced an uptick in trading volume, concluding the year with 2.29 billion trades, representing a 2.1% increase from the previous year.
The platform’s market capitalization also surged by 16.8% to reach 1.2 trillion euros.
BME’s fixed-income markets saw a significant increase in new funding, totaling EUR 405 billion, an 8.7% boost, driven by the new Securities Markets Act.
Additionally, the introduction of BME Growth welcomed ten new companies to the platform.
Furthermore, in 2023, the SIX Swiss Exchange launched ETF QOD Europe, a service designed to enhance the trading experience across various European markets, including the London Stock Exchange, Euronext, and Nasdaq Stockholm.
The primary objectives of this service are to improve liquidity, offer better pricing, and expand listings.
Collaborating with CCP SIX x-clear, Cboe Clear Europe, and LCH Ltd, this initiative aims to mitigate counterparty risk, streamline settlement processes, and optimize trading costs for participants, ensuring a more efficient and secure trading environment.