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SIX Swiss Exchange reports surge in ETF volumes on its QOD RFQ platform in Q2


SIX Swiss Exchange reports that it has reached the highest monthly turnover to date in June at CHF519 million on its ETF Quote on Demand Request for Quotation (QOD RFQ) market, which is designed to give trading participants the choice to settle orders in a bidding process directly with the key European Liquidity Providers (LPs). 

The number of trades on the SIX Swiss Exchange RFQ platform QOD for ETFs in the last month of the second quarter came to 9,421, the third highest figure to date. The daily traded average this year is over CHF18 million, compared to previous year with CHF10.8 million, an increase which the exchange describes as significant, confirming the popularity and interest from customers.

Trades in QOD RFQ are published immediately after execution, which helps meet the growing regulatory demands for increased transparency into the post-trade processes. Additionally, trade execution reports are made available on the business day following the execution.

SIX reports that the ETF iShares Core MSCI World USD Acc with the ticker SWDA was traded particularly frequently via QOD. Lively trading in this form was also recorded by the ETFs CSSPX and EQQQ. Compared to Q 1, the turnover of the top 20 products traded via QOD increased by 45.12 per cent to CHF765.57 million. The two leading ETFs exceeded the 100 million turnover mark; all others at least managed double-digit sales figures. A clear indication of the growing importance of this offering, the exchange says.

“With the option to interact with the existing order book, our QOD RFQ provides access to much needed additional liquidity, which is starting to be reflected in the form of execution improvements for market participants. With this innovative service we understand and address these needs and will shortly also include pan-European ETFs”, says André Buck, Global Head Sales & Relationship Management at SIX Swiss Exchange.

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