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rading Period Overview valid as of 7 April 2014
Without Closing Auction With Closing Auction
06:00 CET
until Openingnot applicable Opening until End of Trading not applicable 10 Minutes
End of Trading
until 22:00 CET
not applicable 2 Minutes not applicable None2 Minutes at
Run Auction and Closenot applicable
Day Yes No Yes No Yes No
Immediate or Cancel No No Yes No No No
Fill or Kill No No Yes No No No
At the Open ing Yes No No No No No
At the Clo se Yes No Yes No Yes No
Good for Date Yes No Yes No Yes Yes
Day Yes No Yes No Yes No
Immediate or Cancel No No Yes No No No
Fill or Kill No No Yes No No No
At the Open ing Yes No No No No No
At the Clo se Yes No Yes No Yes No
Yes No Yes No Yes Yes
Day Yes No Yes NoYes
Order expiry after End of TradingNo
Immediate or Cancel No No Order deletion of no execution No No No
Fill or Kill No No Order deletion of no execution No No No
At the Open ing Yes Order expiry if not executed in Opening No No No No
At the Clo se Yes No Yes NoYes
Order expiry if not executed in AuctionNo
Good for Date Yes No Yes No Yes Yes
Day Yes No Yes NoYes
Order expiry after End of TradingNo
Immediate or Cancel No No Order deletion of no execution No No No
Fill or Kill No No Order deletion of no execution No No No
At the Open ing Yes Order expiry if not executed in Opening No No No No
At the Clo se Yes No Yes NoYes
Order expiry if not executed in AuctionNo
Yes No Yes No YesYes
Quotes deleted at End of Business
NoExecutions according to
largest best execution principle
Continuous execution
of orders and quotesNo
During Closing Auction
No
At Run Auction and Close
Executions according
to largest best execution principle.
No
Theoretical Opening Price Opening Price Reference Price Closing Price Closing Price None
NoneDelay Opening
Non Opening
Stop TradingNon Opening
Underlying Condition
None Non Opening None
Yes
Limit to trade on order book
not applicable
Yes
Observe "Limit to trade on order book"
where applicable
Yes
Observe "Limit to trade on order book"
where applicable
Yes
Observe "Limit to trade on order book"
where applicable
Yes
Observe "Limit to trade on order book"
where applicable
Yes
Limit to trade on order book
not applicable
SIX Swiss Exchange L td
Selnaustrasse 30
P.O. Box 1758
CH-8021 Zurich
T +41 58 399 5454
F +41 58 499 2233
www.six-swiss-exchange.com
OrderDeletion&
Expiry
Exceptional Order Book Situations
Off Order Book Reporting
Price Calculation
OTI Orders
QTI Quotes
STI Orders
Executions
OrderEntry
Post TradingPre-Opening Opening Continuous TradingEnd of Trading
Duration
Random Time
STI Orders
QTI Quotes
OTI Orders
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Market Model Overview valid as of 7 April 2014
Market Maker Book
(MMB)
Market Maker Book Fill o r Kill
(MMB-FoK)
rading Segments
Blue Chips
Mid- and Small-Caps
Secondary Listing
Separate Trading Lines
Investment Funds
Rights
Swiss Government Bonds
Other CHF Bonds
Floating Rate Notes
Convertible and Warrant Bonds
Delisted Bonds
Credit Linked Notes
Bond Linked Notes
Exchange Traded Funds
Exchange Traded Structured Funds
Exchange Traded Products
Sponsored Funds
International Bonds
Derivatives (SIX Structured Products Exchange)
International Bonds and CHF Bonds
(with Minimum Denomination
> smallest tradeable unit)
rading Periods
Pre-Opening
Opening
Continuous Trading
End of Trading with or without Closing Auction
Post-Trading
Pre-Opening
Opening
Continuous Trading
End of Trading without Closing Auction
Post-Trading
Pre-Opening
Opening
Continuous Trading
End of Trading without Closing Auction
Post-Trading
Pre-Opening
Opening
Continuous Trading
End of Trading without Closing Auction
Post-Trading
rading Interruptions
Trading interruption based on
executable orders without quotes in order book
Delay Opening
Stop Trading
Trading interruption based on
non-executable market orders
Non Opening
Trading interruption based on
underlying not trading
Underlying Condition
Trading interruption based on
executable orders without quotes in order book
Delay Opening
Stop Trading
n Book Matcher - Partition OBM Partition 1 - Equities OBM Partition 2 - Non-Equities OBM Partition 2 - Non-Equities OBM Partition 2 - Non-Equities
terface - Order Types
STI - Orders
CTI - Volatile Orders *
OTI - Volatile Orders
STI - Orders
OTI - Volatile Orders
CTI - Quotes *
QTI - Quotes
STI - Orders
OTI - Volatile Orders
CTI - Quotes *
QTI - Quotes
STI - Orders
OTI - Volatile Orders
CTI - Quotes *
QTI - Quotes
atching Rules Quote Domination Matching Rules Minimum Denomination Matching Rules
CTI will be decommissioned on 31 July 2014
SIX Swiss Exchange Ltd
Selnaustrasse 30
P.O. Box 1758
CH-8021 Zurich
T +41 58 399 5454
F +41 58 499 2233
www.six-swiss-exchange.com
Central Limit Order Book
(CLOB)
CLOB Matching Rules
Trading interruption based on
the deviation from the reference price
Delay Opening
Stop Trading
Avalanche
Trading interruption based on
non-executable market orders
Non Opening
Trading interruption based on
underlying not trading
Underlying Condition
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Trading Hours
Continuous Trading
Closing Auction
Randomised Opening
Randomised Closing
Stop Trading in Opening
Stop Trading
Continuous Trading
Avalanche
Continuous Trading
Non Opening
Underlying Condition
Limit for duty
to trade on order book
Reporting duty
Reporting Time
Publication
C&S Segment Code
Settlement Cycle
Settlement Eligible
Clearing Eligible
0.01%
independent of market price
0.05%
independent of market price
Maturity< 18 Months
0.01%
independent of market price
0.01%
independent of market price
No Stop Trading
Interruption of 15mins.
if potential follow up price
deviates by 1.00%or more
from the reference price.
CHF Bonds with Maturity > 15 years
Interruption of 15mins.
if potential follow up price
deviates by 3.00%or more
from the reference price
CHF 100'000.--
Deferred publication on request for trade reporting.
Published on the following trading daybefore the opening
Deferred publication on request for trade
reporting.
Published on the following trading day before
the opening
Yes
Yes
0.01%
independent of market price
Interruption of 15mins .
if potential follow up price
deviates by 1.00%or more
from the reference price.
CHF Bonds with Maturity > 15 years
Interruption of 15mins.
if potential follow up price
deviates by 3.00%or more
from the reference price
NoneInterruption if underlying instrument
is in stop trading
Yes Yes
Interruption if potential follow up price deviates
bymore than the Stop Trading Range from the
reference price within a
10 secondperiod.
Benchmark for Avalanche equal to Stop
Trading Continuous Trading.
Deferred publication on request for trade
reporting.
Published on the following trading daybefore
the opening
Latest before the opening on the next
trading day
Interruption if potential follow up price deviates
bymore than the Stop Trading Range from the
reference price within a
10 secondperiod.
Benchmark for Avalanche equal to Stop
Trading Continuous Trading.
Interruption if potential follow up price deviates
bymore than the Stop Trading Range from the
reference price within a
10 secondperiod.
Benchmark for Avalanche equal to Stop
Trading Continuous Trading.
Latest before the opening on the next
trading day
Latest before the opening on the next
trading day
Deferred publication on request for trade
reporting.
Published on the following trading day before
the opening
2 Minutes
09:30 - 09:32 CET
None
2 Minutes
08:30 - 08:32 CET
2 Minutes
09:30 - 09:32 CET
Yes
No Stop Trading
OnExchange
Off
OrderBook
CHF 100'000.--
NoneNone None
A standard round lot is equivalent to the smallest tradeable
denomination.
A standard round lot is equivalent to the
smallest tradeable denomination.
A standard round lot is equivalent to the
smallest tradeable denomination.Round Lot
No Stop Trading
Yes Yes
Price Increments
Price Steps
TradingInterruptions
CHF 100'000.--
Latest before the opening on the next
trading day
Deferred publication on request for trade
reporting.
Published on the following trading day before
the opening
Latest before the opening on the next
trading day
Delisted Bonds
SIX Swiss Exchange
None
None
A standard round lot is equivalent to the
smallest tradeable denomination.
09:30 - 17:00 CET
Regulatory Standard Standard for Bonds
TradingHours
08:30 - 17:00 CET
08:30 - 17:00 CET
Order Book Depth
Market Model
None None
5 5
2 Minutes
09:30 - 09:32 CET
09:30 - 17:00 CET
09:30 - 17:00 CET 09:30 - 17:00 CET09:30 - 17:00 CET
09:30 - 17:00 CET
None
Central Limit Order Book
(CLOB)
Standard for Bonds Standard for Bonds
SIX Swiss Exchange
Convertible and Warrant
Bonds
SIX Swiss Exchange
International
Bonds
SIX Swiss Exchange
Schweizer Pfandbriefe
SIX Swiss Exchange
Other
CHF Bonds
Floating
Rate Notes
SIX Swiss Exchange SIX Swiss Exchange
Central Limit Order Book
(CLOB)
Market Maker Book - Fill or Kill
(MMB-FoK)
A standard round lot is equivalent to the
smallest tradeable denomination.
Product Guide - Bond Market
Market Maker Book (MMB)
Market Maker Book - Fill or Kill (MMB-FoK)
5
admitted to trading Standard for Bonds
5
Standard for Bonds
Central Limit Order Book
(CLOB)
Central Limit Order Book
(CLOB)
Standard for Bonds
Exchange
Bonds of the Swiss
Confederation
55
valid as of 7 April 2014
Credit Linked Notes
Bond Linked Notes
SIX Swiss Exchange
Standard fr Derivate
Central Limit Order Book
(CLOB)
Central Limit Order Book
(CLOB)
admitted to trading
Central Limit Order Book
(CLOB)
5
09:30 - 17:00 CET
09:30 - 17:00 CET
Nein
2 Minutes
09:30 - 09:32 CET
None
None
2 Minutes
09:30 - 09:32 CET
None
09:30 - 17:00 CET
09:30 - 17:00 CET 09:30 - 17:00 CET
09:30 - 17:00 CET
0.01%
independent of market price
5
None
A standard round lot is equivalent to the
smallest tradeable denomination.
2 Minutes
09:30 - 09:32 CET
A standard round lot is equivalent to the smallest
tradeable denomination.
Yes
A standard round lot is equivalent to the
smallest tradeable denomination.
None
2 Minutes
09:30 - 09:32 CET
09:30 - 17:00 CET
09:30 - 17:00 CET
Interruption of 5 mins.,
if potential follow up price
deviates by 10% or more
from the reference price.
Interruption of 15 mins.,
if potential follow up price
deviates by 2.00%or more
from the reference price.
0.01%
independent of market price
No
Interruption if potential follow up price deviates
bymore than the Stop Trading Range from the
reference price within a
10 secondperiod.
Benchmark for Avalanche equal to Stop
Trading Continuous Trading.
0.01%
independent of market price
Interruption of 15 mins.,
if potential follow up price
deviates by 2.00%or more
from the reference price.
CHF Bonds with Maturity > 15 years
Interruption of 15 mins.,
if potential follow up price
deviates by 3.00%or more
from the reference price.
Volatile Securities Interruption of5 mins.,
if potential follow up price
deviates by 10% or more
from the reference price.
0.05%
independent of market price
Maturity< 18 Months
0.01%
independent of market price
Yes
No
None
Yes
Latest before the
opening on the next
trading day
CHF 100'000.--
Interruption for a30 secondsperiod if a trade
between orders
can be executed
but no quote is in the order book.
The stop trading duration can be interrupted as
soon as quotes are posted.
Yes
None
None
Ja
None
CHF 100'000.--
Yes
None
None
Yes
Latest before the opening on the next
trading day
Deferred publication on request for trade
reporting.
Published on the following trading daybefore
the opening
Deferred publication on request for trade
reporting.
Published on the following trading daybefore
the opening
BONC - Bonds CHF (not cleared) BONC - Bonds CHF (not cleared)
Yes Yes
T + 3
Interruption if potential follow up price deviates
bymore than the Stop Trading Range from the
reference price within a
10 secondperiod.
Benchmark for Avalanche equal to Stop
Trading Continuous Trading.
Yes
CHF 100'000.--
Yes
No Stop Trading
None
None
B OCS - Bonds CHF (cl eared byone CCP ) B ONC - Bonds CHF (no t c leared) B OCS B onds CHF - (c leared byone CCP)
Not published
Monthlyaccumulated.
Onlythe volume is published
None
Yes
Latest before the opening on the next
trading day
SIX Swiss Exchange Ltd
Selnaustrasse 30
P.O. Box 1758
CH-8021 Zrich
T +41 58 399 5454
F +41 58 499 2233
www.six-swiss-exchange.com
Yes No No
T + 3
IBMA - International Bonds (manual)
IBNC - International Bonds (not cleared)BOCS - Bonds CHF (cleared byone CCP) BOCS - Bonds CHF (cleared byone CCP)
Yes
Yes
Yes
T + 3 T + 3 T + 3
Yes Yes Yes Yes Yes
Yes
Interruption of 15 mins.,
if potential follow up price
deviates by 2.00%or more
from the reference price.
CHF Bonds with Maturity
> 15 years
Interruption of 15 mins.,
if potential follow up price
deviates by 3.00%or more
from the reference price.
Volatile Securities Interruption of5 mins .,
if potential follow up price
deviates by 10% or more
from the reference price.
Interruption for a 30 seconds
period if a trade between orders
can be executed
but no quote is in the order book.
The stop trading duration can be
interrupted as soon as quotes are
posted.
Interruption if potential follow up
price deviates bymore than the
Stop Trading Range from the
reference price within a
10 secondperiod.
Benchmark for Avalanche equal to
Stop Trading Continuous Trading.
No Stop Trading
Securities with a reference price smaller than CHF 10.00 respectively 10%.
Substantial price movements in a security will possibly cause a change in the stop trading category. SIX Swiss Exchange will inform all participants of changes via an SIX Swiss Exchange Message.
Yes
T + 3 T + 3
Yes Yes Yes Yes
Appendix
Counterparty Disclosure
Clearing&Settlement
IBMA: No
IBNC: Yes
No
None
Yes
T + 3
Order TypesNormal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
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Product Guide - Fund Market and Exchange Traded Products
Trading Hours
Continuous Trading
Closing Auction
Randomised Opening
Randomised Closing
0.01 through 9.99 0.01 0.01 through 49.99 0.01
10.00 through 99.95 0.05 50.00 through 99.95 0.05 0.001 through 4.999 0.001 0.001 through 4.999 0.001 0.001 through 4.999 0.001 0.001 through 4.999 0.001
100.00 through 249.90 0.10 100.00 through 499.90 0.10 5.000 through 19.995 0.005 5.000 through 19.995 0.005 5.000 through 19.995 0.005 5.000 through 19.995 0.005
250.00 through 499.75 0.25 500.00 through 999.50 0.50 20.00 0.01 20.00 0.01 20.00 0.01 20.00 0.01
500.00 through 999.50 0.50 1'000.00 through 4'999.00 1.00
1'000.00 through 4'999.00 1.00 5'000.00 5.00
5'000.00 5.00
Stop Trading in Opening
Stop Trading
Continuous Trading
Avalanc he
Continuous Trading
Non Opening
Underlying Condition
Limit for duty
to trade on order book
Reporting duty
Reporting Time
Publication
C&S Segment Code
Settlement Cycle
Settlement Eligible
Clearing Eligible
No
Order Book Depth
Round Lot
Price Increments
Price Steps
TradingInterruptions
09:00 - 17:30 CET
09:00 - 17:20 CET
2 Minutes
17:30 - 17:32 CET
Interruption of 15 mins., if potential
follow up price deviates by2.00%or more
from the reference price.
Volatile Securities
Interruption of 5 mins., if potential
follow up price deviates by 10%or more
from the reference price.
Interruption if potential follow up price deviates
by more than the Stop Trading Range
from the reference price within a 10 secondperiod.
Benchmark for Avalanche equal to
Stop Trading Continuous Trading.
Yes
No
17:20 - 17:30 CET
2 Minutes
09:00 - 09:02 CET
A standard round lot is equivalent to
the smallest tr adeable denomination.
and more
Market ModelMarket Maker Book
(MMB)
5
TradingHours
09:00 - 17:30 CET 09:00 - 17:00 CET
09:00 - 17:30 CET 09:00 - 17:00 CET
None
None None
2 Minutes
09:00 - 09:02 CET
2 Minutes
09:00 - 09:02 CET
10
None
Order Types Normal and Iceberg OrdersNormal Orders
Quotes
Normal Orders
Quotes
5
valid as 7 April 2014
Exchange Traded Products
(ETP)Investment Funds
Exchange Traded Funds (ETF)
on Bonds of the Swiss
Confederation
Market Maker Book
(MMB)
Market Maker Book
(MMB)
SIX Swiss Exchange SIX Swiss Exchange SIX Swiss Exchange
Standard for Collective Investment Schemes Standard for Collective Investment Schemes Standard for Exchange Traded Products
Exchange
Central Limit Order Book
(CLOB)
SIX Swiss Exchange
Standard for Collective Investment Schemes
Market Maker Book
(MMB)
Regulatory Standard Standard for Collective Investment Schemes
Exchange Traded Structured
Funds (ETSF)
SIX Swiss Exchange
Exchange Traded Funds
(ETF)
Deferred publication on request based on
ADT Delay
Immediate PublicationImmediate Publication
T + 3
Yes
No
Yes
A standard round lot is equivalent to
the smallest tradeable denomination.
Interruption for a 5 minutesperiod if a trade
between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted
as soon as quotes are posted.
Interruption for a 5 minutesperiod if a trade
between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted
as soon as quotes are posted.
T + 3
No Stop Trading
No
Yes Yes
No Stop Trading No Stop Trading
A standard round lot is equivalent to
the smallest tradeable denomination.
A standard round lot is equivalent to
the smallest tradeable denomination.
Yes
Yes
None
Yes Yes
OnExchange
OffOrderBook
CHF 200'000.--
3 minutes
Yes
SIX Swiss Exchange L td
Selnaustrasse 30
P.O. Box 1758
CH-8021 Zurich
T +41 58 399 5454
F +41 58 499 2233
www.six-swiss-exchange.com
Substantial price movements in a security will possibly cause a change in the stop trading category. SIX Swiss Exchange will inform all participants of changes via an SIX Swiss Exchange Message.
Yes
Appendi x
Counterparty Disclosure Yes YesYes
None
3 minutes 3 minutes
Yes
YesNo
T + 3
YesNo
Yes
T + 3
Securities with a reference price smaller than CHF 10.00 respectively 10%.
Clearing&
Settlement
ETCS - Exchange Traded Prod (cleared both CCPs) ETCS - Exchange Traded Prod (cleared both CCPs)
T + 3
Yes
Yes Yes Yes
ETCS - Exchange Traded Prod (cleared both CCPs)
T + 3
Yes Yes
SHNC - Shares and Funds (not cleared) ETNC - Exchange Traded Prod (not cleared)
SIX Swiss Exchange
Standard for Sponsored Investment Funds Segment
Market Maker Book
(MMB)
Sponsored Funds
5
09:15 - 17:30 CET
09:15 - 17:30 CET
None
2 Minutes
09:15 - 09:17 CET
Normal Orders
Quotes
Immediate Publication
SFCH - Sponsored Funds - CH (not cleared)
SFLU - Sponsored Funds - LU (not cleared)
Sponsored Funds in JPY
1.00 independend of market price
ETFs in JPY
1.00 independent of market price
ETFs in JPY
1.00 independent of market price
ETFs in JPY
1.00 independent of market price
ETFs in JPY
1.00 independent of market price
and more and more and more and more
None
Immediate Publication
3 minutes3 minutes
Immediate Publication
Yes
No No
Interruption for a5 minutes period if a trade
between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted
as soon as quotes are posted.
None
and more
No Stop Trading
Interruption for a 5 minutesperiod if a trade
between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted
as soon as quotes are posted.
Normal Orders
Quotes
Normal Orders
Quotes
Interruption for a 5 minutesperiod if a trade
between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted
as soon as quotes are posted.
No Stop Trading
Yes
No
None
Optional
Latest before the opening on the next trading day
5
None None
09:00 - 17:30 CET
09:00 - 17:30 CET09:00 - 17:30 CET
None
2 Minutes
09:00 - 09:02 CET
2 Minutes
09:00 - 09:02 CET
5
09:00 - 17:30 CET
A standard round lot is equivalent to
the smallest tr adeable denomination.
None
A standard round lot is equivalent to
the smallest tradeable denomination.
None
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Product Guide - Derivative Market
Trading Hours
Continuous Trading
Closing Auction
Randomised Opening
Randomised Closing
0.01 through 9.99 0.01 0.01 through 9.99 0.01 0.01 through 9.99 0.01 0.01 through 9.99 0.01 0.01 through 9.99 0.01
10.00 through 99.95 0.05 10.00 through 99.95 0.05 10.00 through 99.95 0.05 10.00 through 99.95 0.05 10.00 through 99.95 0.05
100.00 through 249.90 0.10 100.00 through 249.90 0.10 100.00 through 249.90 0.10 100.00 through 249.90 0.10 100.00 through 249.90 0.10
250.00 through 499.75 0.25 250.00 through 499.75 0.25 250.00 through 499.75 0.25 250.00 through 499.75 0.25 250.00 through 499.75 0.25
500.00 through 999.50 0.50 500.00 through 999.50 0.50 500.00 through 999.50 0.50 500.00 through 999.50 0.50 500.00 through 999.50 0.50
1'000.00 through 4'999.00 1.00 1'000.00 through 4'999.00 1.00 1'000.00 through 4'999.00 1.00 1'000.00 through 4'999.00 1.00 1'000.00 through 4'999.00 1.00
5'000.00 and more 5.00 5'000.00 and more 5.00 5'000.00 and more 5.00 5'000.00 and more 5.00 5'000.00 and more 5.00
Stop Trading in Opening
Stop Trading
Continuous Trading
Avalanc he
Continuous Trading
Non Opening
Underlying Condition
Limit for duty
to trade on order book
Reporting duty
Reporting Time
Publication
C&S Segment Code
Settlement Cycle
Settlement Eligible
Clearing Eligible
09:15 - 17:15 CET
09:15 - 17:15 CET
A standard round lot is equivalent
to the smallest tradeable
denomination.
A standard round lot is equivalent
to the smallest tradeable
denomination.
2 Minutes
09:15 - 09:17 CET
2 Minutes
09:15 - 09:17 CET
CHF 100'000.--
Yes
3 minutes3 minutes
CHF 100'000.--
Yes
None
A standard round lot is equivalent
to the smallest tradeable
denomination.
Interruption for a30 secondsperiod
if a trade between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted as soon
as quotes are posted.
No Stop Trading
Interruption if underlying intrument
is in stop trading
(only primary listed underlyings)
Yes
09:15 - 17:15 CET
None
Interruption if underlying intrument
is in stop trading
(only primary listed underlyings)
No
No Stop Trading
09:15 - 17:00 CET
Immediate publication
Order TypesNormal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Normal Orders
Quotes
Yes
Interruption if underlying intrument
is in stop trading
(only primary listed underlyings)
1
09:15 - 17:15 CET
None None
None None
09:15 - 17:15 CET09:15 - 17:15 CET
Immediate publication Immediate publication Immediate publicationImmediate publication
Yes
None
Clearing&
Settlement
Securities with a reference price smaller than CHF 10.00 respectively 10%.
Appendi x
No
Substantial price movements in a security will possibly cause a change in the stop trading category. SIX Swiss Exchange will inform all participants of changes via an SIX Swiss Exchange message.
Yes Yes Yes Yes Yes Yes
DENC - SIX Structured Products (not cleared) DENC - SIX Structured Products (not cleared) DENC - SIX Structured Products (not cleared)
No No No
Yes Yes
No
T + 3
DENC - SIX Structured Products (not cleared) DENC - SIX Structured Products (not cleared)
Immediate publication
Standard for Derivatives Standard for Derivatives Standard for Derivatives
Yes
No
Yes
Standard for Derivatives
No Stop Trading
0.01%
independent of market price
Interruption for a 30 secondsperiod
if a trade between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted as soon
as quotes are posted.
Yes Yes
CHF 100'000.--
Yes
No Stop Trading
3 minutes3 minutes
1
Counterparty Disclosure Yes Yes
DENC - SIX Structured Products (not cleared)
1
Market Maker Book
(MMB)
1
Standard for DerivativesRegulatory Standard Standard for Derivatives
Market Model
TradingHours
2 Minutes
09:15 - 09:17 CET
2 Minutes
09:15 - 09:17 CET
09:15 - 17:15 CET
Order Book Depth
Market Maker Book
(MMB)
Market Maker Book
(MMB)
Round Lot
OnExchange
OffOrderBook CHF 100'000.--
3 minutes
Yes
Yes
Market Maker Book
(MMB)
Market Maker Book
(MMB)
1 1
Market Maker Book
(MMB)
valid as of 7 April 2014
Exchange
Warrants on
Equity Securities
Warrants on
Baskets, Indices, Commodities
and Currencies
SIX Struc tured Produc ts Exchange AG SIX Struc tured Produc ts Exchange AG
Interest Rate
Warrants
Warrants on
Swiss Federal Bonds
SIX Structured Products Exchange AG
Structured Product
Bonds
SIX Structured Products Exchange AG
Structured Product
Warrants & Certificates
SIX Structured Products Exchange AG SIX Structured Products Exchange AG
No Stop Trading
A standard round lot is equivalent
to the smallest tradeable
denomination.
A standard round lot is equivalent
to the smallest tradeable
denomination.
Price Increments
Price Steps
3 minutes
CHF 100'000.--
Yes
Interruption if underlying intrument
is in stop trading
(only primary listed underlyings)
No
Interruption for a 30 secondsperiod
if a trade between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted as soon as
quotes are posted.
TradingInterruptions
SIX Structured Products Exchange Ltd
Selnaustrasse 30
P.O. Box 1758
8021 Zrich
T +41 58 399 2100
F +41 58 499 2099
www.six-structured-products.com
09:15 - 17:00 CET
09:15 - 17:15 CET 09:15 - 17:15 CET
None None
CHF 100'000.--
T + 3 T + 3 T + 3 T + 3 T + 3
09:15 - 17:15 CET
Interruption for a 30 secondsperiod
if a trade between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted as soon
as quotes are posted.
Interruption for a30 secondsperiod
if a trade between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted as soon
as quotes are posted.
2 Minutes
09:15 - 09:17 CET
None None
A standard round lot is equivalent
to the smallest tradeable
denomination.
2 Minutes
09:15 - 09:17 CET
None
Interruption for a30 secondsperiod
if a trade between orders can be executed
but no quote is in the order book.
The stop trading duration can be interrupted as soon
as quotes are posted.
Yes
No Stop Trading
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Price Step Overview (Tick Sizes)
Equity Market
0.0001 through 0.4999 0.0001
0.50 through 0.9995 0.0005
1 through 4.999 0.001 0.01 through 9.99 0.01
5 through 9.995 0.005 10.00 through 99.95 0.05
10 through 49.99 0.01 100.00 through 249.90 0.1050 through 99.95 0.05 250.00 through 499.75 0.25
100 through 499.9 0.1 500.00 through 999.50 0.50
500 through 999.5 0.5 1'000.00 through 4'999.00 1.00
1'000 through 4'999 1 5'000.00 and more 5.00
5'000 through 9'995 5
10'000 and more 10
Fund Market and Bond Market
0.01 through 9.99 0.01 0.001 through 4.999 0.001
10.00 through 99.95 0.05 5.00 through 19.995 0.005
100.00 through 249.90 0.10 20.00 and more 0.01
250.00 through 499.75 0.25
500.00 through 999.50 0.50
1'000.00 through 4'999.00 1.00
5'000.00 and more 5.00
0.01 through 49.99 0.01
50.00 through 99.95 0.05
100.00 through 499.90 0.10
500.00 through 999.50 0.501'000.00 through 4'999.00 1.00
5'000.00 and more 5.00
Derivative Market (SIX Structured Products Exchange)
0.01 through 9.99 0.01
10.00 through 99.95 0.05
100.00 through 249.90 0.10
250.00 through 499.75 0.25
500.00 through 999.50 0.50
1'000.00 through 4'999.00 1.00
5'000.00 and more 5.00
0.01%
independent from market price
0.01% independent from market price
Sponsored Funds in JPY
1.00 independent of market price
Sponsored Funds
valid as of 1 March 2013
SIX Swiss Exchange Ltd
Selnaustrasse 30
P.O. Box 1758
CH-8021 Zurich
T +41 58 399 5454
F +41 58 499 2233
www.six-swiss-exchange.com
Separate Trading Lines
Blue Chips
Mid- and Small-Caps
Secondary Listing
Rights
Investment Funds
Exchange Traded Funds
Exchange Traded Structured Funds
Exchange Traded Products
Bonds of the Swiss Confederation
Schweizer Pfandbriefe
Floating Rate Notes
International Bonds
Delisted Bonds
Credit and Bond Linked Notes
Other CHF Bonds
Convertible and Warrant Bonds
Structured Products Bonds
Warrants
Structured Product Warrants & Certificates
0.01 independent of market price
0.05% independent of market price
Maturity
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Trade Types & Flags valid as of 7 April 2014
Field Value Fix Tag - Field NameAppl icab le
Securities
Transaction
TypeAddi tio nal Com ments
Special Price 828 - TrdType AllOne sided report
Two sided report
Deferred PublicationShares
CHF Bonds
One sided report
Two sided report
Publish Trade AllOne sided report
Two sided report
Off Exchange 829 - TrdSubType AllOne sided report
Two sided report
Tra ns ac ti on Rep or t 50 55 - T ra ns Rep or t All Delivery Report
Both Parties 6577 - Tariff All One sided report
Removed Liquidity All On Order Book
Added Li quidi ty All On Order Book
Aucti on All On Order Book
Do no t Pu bl is h 1390 - Tr ad ePu bl is hIn di cat or International
Bonds
On Order Book
One sided report
Two sided report
SLS 26559 - EntrySource SLS SecuritiesOne sided report
Two sided report
Mistrade All Trade Cancellation
On Behalf All Trade Cancellation
Canc Buy All Cancellation Request CancBuy is specifying that the buy party will be charged the cancellation fee
Canc Sell All Cancellation Request CancSell is specifying that the sell party will be charged the cancella tion fee
Canc Split All Cancellation Request CancSplitl is specifying that the cancellation fee will be spl it between the parties.
Yes 7205 - InternalCross All On Order Book
SIX Swiss Exchange Ltd
Selnaustrasse 30
P.O. Box 1758
CH-8021 Zurich
T +41 58 399 5454
F +41 58 499 2233
www.six-swiss-exchange.com
Trade
Flags
Auction is specifying that both sides of a transaction were executed during a non-continuous trading period.
Trade
Types
Special Price is specifying a trade report whose price differs from the market price at the time of entry
(VWAP, Portfolio-Trades, Counter Trades, Aggregated Orders, Trade reporting after emergency situations)
Internal Cross is specifying a transaction for one and the same beneficial owner.
Nostro-nostro crosstrades are forbidden if buy and sell orders in a single security are entered for the same beneficial owner. The ban shall not cover
simultaneous buy and sell orders for the participant's own account if the participant can prove that individual orders were entered independently of
each other and without any form of agreement in the exchange system. The participant must take steps to avoid forbidden nostro-nostro crosstrades.
OnBehalf is specifying a trade that has been cancelled by SIX Swiss Exchange on behalf of the involved counterparties according to Directive 3:
Trading.
Mistrade is specifying a trade that has been declared null and void and cancelled by SIX Swiss Exchange according to
Directive 4: Market Control.
LN is specifying a trade that has been reported via the SIX Swiss Exchange Liquidnet Service (SLS) undisclosed block trading system at Mid-
point Price.
Added Liquidity is specifying the side of a transaction which has contributed liquidity to the order book.
Removed Liquidity is specifying the side of a transaction which has triggered the transaction in the orderbook.
Both Parties is specifying a one-sided trade report which has been reported to the Exchange in the name of both parties involved
in the transaction.
Do not Publish is specifying a trade report in international bonds that is published on a cumulated monthly basis, aggregated by sector.
Publish Trade is specifying a trade report which is to be published immediately.
Deferred Publication is specifying a trade report
a) with the required minimum volume, depending on the average daily turnover, which is published with a delay;
b) in CHF bonds published before the opening of trading on the following trading day
851 - LastLiquidityInd
277 - TradeCondition
6577 - Tariff
1390 - TradePublishIndicator
Off Exchange is specifying a trade report which is not subject to the provisions of the Rule Book.
Transaction Report is specifying a delivery report which has been reported as a transaction report to the Reporting Office under the Reporting
Office Rules for the Fulfilment of the Legal Reporting Requirements for Securities Dealers
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a b c d
ADT