Source: SWX Swiss Exchange
Virt-x, the London-based securities exchange and subsidiary of SWX Swiss Exchange, will be known as SWX Europe Limited effective today.
The decision to re-brand virt-x as SWX Europe was taken as a result of the SWX Group's merger with SIS Group and Telekurs Group into Swiss Financial Market Services AG on 1 January 2008.
The name SWX Europe exemplifies the exchange's position as the pre-eminent liquidity venue for the trading of Swiss blue-chip equities. Swiss multinational companies account for 14% of blue chip market capitalisation of the STOXX 50 index. SWX Europe is the home for the SMI (Swiss Market Index) and the SLI (SLI Swiss Leader Index), amongst which are five of the world's top 100 companies.
Lee Hodgkinson, CEO of SWX Europe commented: "Our new name not only reflects the essence of our core business in Swiss blue-chip equities but also the revitalisation of our trading offering. The launch of a non-displayed liquidity service and additional headline tariff cuts will consolidate our position as the home market for Swiss equities trading as the exchange landscape undergoes significant change. We remain committed to embracing the needs of our users across Europe and the U.S. from our base in London."