SIX Swiss Exchange Relapses in October after 2-Month Turnover Gains

Trading volumes on the SIX Swiss Exchange, Europe's third-largest stock exchange and top post-trade service provider, relapsed in October 2022.

SIX Swiss Exchange disclosed that trading turnover on the exchange dropped 16.1% to CHF 79.3 billion for October 2022. Similarly, the total number of trades performed on the exchange dropped -2.9% month-over-month (MoM) to 4,717,648.

In September, the turnover improved by 20.6% to CHF 94.5 billion from the CHF 78.3 billion that it had recorded earlier in August. Three months ago, the exchange posted a marginal 1.3% growth in trading turnover, reversing a previous two-month fall in volume.

Meanwhile, the SIX Swiss Exchange's trading turnover during the first 10 months of 2022 decreased by -3.1% to CHF 1,035.9 billion when compared to 2021. The total number of transactions conducted within this period also went down by -0.9% to 52,135,512, the exchange's data shows.

“The highest turnover on a single trading day was recorded on 4 October, which saw securities worth a total volume of CHF 4.6 billion changing hands. The highest number of trades was recorded on 14 October, with 270,075,” the SIX Swiss Exchange noted.

Nestle’s Undisputed Spot

In October, the stocks of Swiss multinational food and drink processing conglomerate, Nestle, retained its months-long top spot at the table. However, the value of Nestle shares traded declined 26% to CHF 7.2 billion from the CHF 9.7 billion that it had recorded last month, Finance Magnates' analysis shows.

Also, the stocks of the Swiss-American multinational pharmaceutical corporation, Novartis AG, remained the most traded stocks with 295,637 transactions. Again, like with Nestle, the total number of transactions fell 5% from 310,270 transactions in September 2022.

Sinking Crypto ETPs?

In October, the performance of cryptocurrency exchange-traded products (ETPs) on the SIX Swiss Exchange continued to worsen. Three months ago, or in August, the value of these products had collapsed -41% from July’s figures before sinking further -3.1% to CHF 87.1 million in September. Last month, the months-long drop in the value of the ETPs on the Swiss Exchange further dropped after reaching CHF 68.8 million, which is a -21% shrinkage.

“In total, 173 products were traded and 4,751 transactions concluded,” the Swiss Exchange said.

Meanwhile, the 21Shares Bitcoin ETP (ABTC), an ETP on Bitcoin, generated the highest turnover among all the crypto ETPs on the SIX Swiss Exchange in October. The ETP generated a value of CHF 15.2 million, the Swiss stock exchange disclosed.

Moreover, in September, the 21Shares Ethereum ETP (AETH), an Ethereum-based ETP, generated the highest crypto ETP turnover with CHF 21 million. Despite this, the AETH recorded the most transactions in October 2022 with 928 trades, which is a 30% drop from the 1,205 trades posted earlier in September.