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SWX Swiss Exchange is Switzerland's stock exchange, based in Zürich. The exchange also trades other securities such as Swiss government bonds and derivatives such as stock options.
The main stock market index for the SWX Swiss Exchange is the SMI, the Swiss Market Index. The index consists of the 20 most significant equity-securities based on the free float market capitalisation.
The Swiss Stock Exchange(SWX), based in Zurich is the first stock exchange in the world to incorporate a fully automated trading, clearing and settlement system in 1995. The Swiss Stock Exchange(SWX) is controlled by an association of banks which number 55. Each of these banks have equal voting rights in the matter of decision making concerning the management and regulation of the Swiss Stock Exchange.
Having the most competitive economy in the world according to the World Economic Forum, has not rescued the Swiss economy from its slow growth, that began back in the early 1990s. From being the richest in the European continent through the larger portion of the last century, Switzerland presently ranks fourth amongst the European countries (having a population that exceeds one million) after Ireland, Denmark and Norway.
The Swiss Stock Exchange(SWX) is the joint owners of the Eurex, the world's largest futures and derivatives exchange along with their German partners Deutsche Börse. In July 2004 however the Swiss Stock Exchange(SWX) rejected a proposal of merger from the German company, that analysts anticipate as profitable for many small companies enlisted on the Swiss Stock Exchange(SWX).
The Swiss Stock Exchange(SWX) has a blue-chip index as its stock market index. It is called the Swiss Market Index (SMI) and comprises a maximum of thirty largest and at the same time most liquid, large and mid-cap SPI stocks.
The good news is that in September 2006 the Swiss Market Index (SMI) crossed its previous all time high which was set nearly eight years ago. This reflects the improved performances of the major Swiss companies enlisted on the Swiss Stock Exchange.
The most recent reports state that The Swiss Stock Exchange(SWX) is willing to engulf the electronic stock market - Virt-x, which was founded in the first place through the merger of the Swiss Stock Exchange with Tradepoint, a London based electronic stock market.
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History
- Replacement of floor trading systems at Geneva (est.1850), Basel (est.1876) and Zürich (est.1873) stock exchanges by fully automated system SWX (1995)
- World's first fully automated trading, clearing and settlement system (est.1995)
- Purchased virt-x cross-border electronic exchange in 2002, which it later renamed SWX Europe.1
Hours
The exchange's normal trading sessions are from 09:00am to 05:30pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.2
See also
- List of stock exchanges
- Bern eXchange (BX), the smaller Bernese competitor
References
- ^ virt-x changes its name to SWX Europe. March 3, 2008, retrieved July 5, 2008.
- ^ Market Hours, SWX Swiss Exchange via Wikinvest
External links
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Wikipedia content modification information:
- This page was last modified on 23 September 2008, at 22:05.
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