Switzerland Stock Exchange (SIX) has announced its trading volume results for October 2021. The report reveals that the company hit a trading turnover of CHF 92.6 billion, showing a 14.1% fall from the previous month’s record. Also, its total number of transactions for the month was 4,853,176, which is a 6.2% drop.
The report also shows that CHF 5.6 billion worth of securities were traded on October 29, making it the highest volume traded for a single day.
NESTLE N had CHF 7.5 billion, the highest turnover for the reporting month. ROCHE GS came second with 270,441 transactions. Also, the monthly SMI® rose by 4.0%, hitting 12,108.2 points.
A Visible Fall In Overall Trading Volumes
In September, SIX recorded a trading turnover of CHF 107.6 billion, representing a 27.2% surge compared to the turnover the previous month. It also saw an increase in the number of transactions to 5,173,911, which is a 19.5% increase from the volume in August.
Crypto products contributed CHF 803.8 million for the October turnover, with a total of 34,651 transactions carried out involving 115 crypto products. ETPs ABTC on Bitcoin had the highest volume for crypto products on the platform for October with CH 93.8 million. The second highest for crypto products was AETH on Ethereum, with 3,298 trades.
SIX Establish A Presence In The Crypto Space
SIX has been very active in the market lately. Last month, the exchange received regulatory approval from regulator financial markets regulator FINMA for its new SDX bourse. The regulatory license has given it the momentum needed to enter the marketplace for digital assets.
The approval also comes with a regulatory node for SIX to operate a central securities depository for digital assets.
The exchange started planning for the SIX Digital Exchange (SDX) trading platform in 2018. The platform will use distributed ledger technology that will create a global exchange network for crypto-assets and other digital assets.
SIX also announced that the digital bourse will allow the trading of exchange-traded funds in addition to stocks. Additionally, the exchange hopes to include other assets like vintage cars and paintings for trade on the platform, although the exact time this would go live is not known.