SIX Swiss Exchange has migrated the majority of its participants to its new trading platform, SWXess. The platform, which was launched on 16 February, handles the trading of all securities listed on the exchange, including shares, bonds, exchange-traded funds and securitised derivatives, and offers lower latency and higher capacity than the previous system.
According to SIX Swiss Exchange, SWXess’s “massively increased capacity” allows it to meet the needs of algorithmic traders and requirements for direct market access. The new platform also features standardised interfaces and a choice of connectivity options, allowing participants to tailor their trading links to the exchange.
The core technology for the new platform is fellow exchange group Nasdaq OMX’s X-stream multi-asset-class trading system. It will also use the Exchange Data Publisher solution from NYSE Technologies, the technology division of NYSE Euronext, for real-time market data delivery.
“SWX offers enhanced capacity and speed while reducing latency, without taking a toll on reliability. The new system has been well received in the marketplace,” said Chris Landis, head of information technology at SIX SWISS Exchange, in a statement. “It is of the greatest importance that we continually improve and expand our services in an effort to generate added value for our participants through high-performance and competitive technologies.”