Source: SWX Swiss Exchange
The SWX Swiss Exchange is linking its new, high-performance system for trading in certificated derivatives with the German Xontro order routing system.
The planned German exchange is the successor organisation to the Bremer Wertpapierbörse AG, which was taken over in full by the SWX Swiss Exchange on 4 July 2005.
Starting in October 2005, the SWX Swiss Exchange will have a new type of trading platform particularly suited to trading in securities which demand significant market-making capacities, such as certificated derivatives and structured products, exchange-traded funds and bonds.
In the interests of extending access to this trading platform to the German market, the SWX Swiss Exchange has taken over 100% of the former Bremen securities exchange and lauched the new securities exchange. It is a purely electronic exchange, on which issuers of warrants and certificates can publish quotes directly – and get an immediate response from investors. The new stock exchange will make trading in certificated derivatives more transparent and efficient for issuers and investors alike. It will also fulfil the particular wishes of many issuers of structured securities.
Trading in Germany is due to start in the second half of 2006.