With the introduction of Swiss EBBO, the Swiss Stock Exchange improves equity trading in a unique and innovative way, further strengthening its competitiveness and status as the best place to trade Swiss shares.
Christian Reuss, Head SIX Swiss Exchange, comments: “Swiss EBBO makes trading in Swiss equities on our exchange more attractive. It provides trading participants with additional liquidity and supports them in their efforts to achieve the best possible execution of their orders for themselves and their clients.”
Swiss EBBO is the latest example how the Swiss Stock Exchange continues to innovate to meet the needs of its highly diverse client base while strengthening the quality of its marketplace and preserving its unique mix of liquidity.
Unique Implementation
Swiss EBBO introduces a supplemental liquidity book. It is operated in addition to the lit Central Limit Order Book (CLOB) and the non-displayed liquidity pool SwissAtMid. All three order books can be accessed simultaneously with a single order.
This unique setup improves access to best price and depth of liquidity in a fragmented and highly technical environment. It reduces the complexity related to order routing to multiple venues and risks such as latency delays or information leakage.
Superior Efficiency
In the Swiss EBBO order book, designated Liquidity Providers offer prices at the European Best Bid and Offer, or EBBO. To assist participants with their best execution reporting obligations, the Swiss Stock Exchange provides T+1 execution analysis and reports. An independent service provider determines the European Best Bid and Offer (EBBO) and compares the prices provided by Liquidity Providers.
More information on the multiple benefits and key aspects of Swiss EBBO as well as details on the market model, order types and routing instructions are available on our website.
The Home of Swiss Liquidity
Switzerland is home to an attractive share universe of over 250 companies, including three of the five biggest in Europe. As their reference market, the Swiss Stock Exchange consistently offers the best prices and the narrowest spreads in combination with the largest volumes.
In a video, three trading participants explain what they appreciate about the Swiss Stock Exchange and how this has manifested itself in an exceptional stock market year 2020. Discover all the numerous advantages of a direct exchange membership. Read more and watch the video