Milestones

The SWX Swiss Exchange goes back more than 150 years. In 1996, fully electronic trading replaced the traditional floor trading system at the stock exchanges of Geneva (founded in 1850), Zurich (1873) and Basle (1876).

The recent history of the SWX is marked by the following highlights:

2007

• Scoach Switzerland Ltd., the exchange for securitised derivatives, commences operation
• Introduction of a Central Counterparty (CCP) for SWX

2006

• SWX Group and Deutsche Börse found SWX Quotematch AG exchange
• Turnover hits new all-time high
• Prof. Dr. Gomez succeeds Dr. Reto Francioni as Chairman of the Board

2005

• Quotematch: launch of a new high-performance system for trading in securitised derivatives
• First listing of an international bond under the SWX's new additional rules
• "EU-compatible" listing segment for Swiss blue chips
• Sponsored Segment at the SWX Swiss Exchange
• VSMI® - Volatility Index on the SMI®
• Acquisition of Bremer Wertpapierbörse

2004

• Introduction of the SXI® Family. This family of indices offers domestic and foreign companies a venue for industry- and size-specific sectors
• The SWX Swiss Exchange launches the indices SMIM® and the SMI Expanded®
• New regulations for disclosure of management transactions on SWX

2003

• virt-x is fully taken over by the SWX
• Agreement with Eurex is extended by 10 years
• Publication of sanctions imposed by the Executive Committee of the Admission Board on the SWX website

2002

• ETFs, previously only traded on the SWX Platform, are also admitted to trading on virt-x
• The SWX changes its legal status from an association to a joint-stock company
• Dr. Reto Francioni replaces Dr. Jörg Fischer as chairman of the Board
• The Directive on Corporate Governance enters into force
• Introduction of Internet Based Listing (IBL)

2001

• The SWX Group (SWX, Eurex, virt-x, STOXX, EXFEED) is established
• Launch of the virt-x blue-chip exchange on 25 June
• Launch of EXFEED, the European provider of raw financial data, on 25 June
• Introduction of TIF
• Introduction of the Local Caps and Real Estate Companies segments

2000

• Launch of SNMI, the SWX New Market Index
• The SWX and Tradepoint enter into exclusive negotiations on cooperation
• Trading in SWX Eurobonds denominated in GBP and JPY
• virt-x project for the first pan-European blue-chip exchange is unveiled to the public. Cooperation agreements are signed
• Existing SPI sector breakdown is supplemented with an industry group classification like that of the Dow Jones STOXX indices
• SWX Repo is integrated into Eurex
• Maximum number of SMI stocks is increased from 25 to 30
• New SWX organisational structure: a Group management is created to coordinate the activities and strategy of the SWX and its associated companies
• Launch of the ETF segment
• Record turnover of CHF 1,324,512 million
• 28 IPOs

1999

• Admission of participants from Germany, the United Kingdom and France
• First foreign branch abroad is opened in London
• Inauguration of SWX Repo, the world's first fully integrated, electronic repo trading platform
• Start of the SWX New Market segment for growth companies
• EUR-denominated bonds first traded on SWX Eurobonds
• Eurex is the world's largest options and futures exchange
• Introduction of the name "SWX Swiss Exchange"

1998

• Merger of the Swiss and German derivatives markets (SOFFEX and DTB) to form Eurex, the first transnational derivatives exchange
• Foundation of STOXX Limited, a joint venture of SWX, Deutsche Börse AG and Dow Jones & Company
• SWX, Deutsche Börse AG, ParisBourseSBF and Dow Jones & Company launch DJ STOXX Indices, the European index family for equities
• Trading starts in SWX Eurobonds in USD-denominated bonds
• The Investment Companies segment is introduced
• 17 IPOs
• The Disclosure Office commences operations
• The Investment Companies segment is introduced

1997

• A record year: the SMI rises by 59 %
• 1,000 new securities are listed
• 12 IPOs; turnover tops CHF 1,000 billion
• SESTA enters into effect

1996

• Electronic trading in Swiss equities and options is introduced on 2 August, that in bonds on 16 August; floor trading is discontinued
• Inauguration of the fully automated trading, clearing and settlement system
• Considerable increase in liquidity
• The bid/ask spreads for blue chips narrow from 0.2 to 0.15 percentage points
• Ad hoc publicity is introduced

1995

• Switzerland’s three stock exchanges in Geneva, Basle and Zurich are merged to form the SWX
• Electronic trading in foreign equities is introduced on 8 December
• SESTA is adopted by the Federal Assembly of the Swiss Confederation