Milestones SIX 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 SIX Swiss Exchange since 1995 is marked by the following highlights. 2011 SIX Swiss Exchange expands its multi-currency capability: July sees the start of trading in ETFs in AUD, and - marking a global first - structured products are now available in the trading currency gold (XAU). The free web-based transparency tool Equity Liquidity Matrix (ELM) now covers all SPI equities, offering investors and market participants an even better overview of the market. The ETF segment grows by 155 new products and attracts three new issuers: State Street Global Advisors, Ossiam and Raiffeisen. Gaining 15 new trading participants mainly from outside Switzerland, SIX Swiss Exchange posts record growth for the second consecutive time. SIX Swiss Exchange launches SLS jointly with Liquidnet. The innovative and pioneering SIX Swiss Exchange Liquidnet Service allows block trading in a broad equity universe. The launch of a second on-book matcher (OBM) means that trading participants on SIX Swiss Exchange benefit from a major increase in the trading platform's transaction capacity as well as a reduction in latency times in the equity segment. With its new Going Public Guide, SIX Swiss Exchange provides potential issuers with practical information on the listing process and the advantages of a listing in Switzerland. The COSI segment for collateralized certificates continues to grow. SIX Swiss Exchange welcomes Merrill Lynch as a new COSI issuer, and EFG Financial Products wins the "ZertifikateAward" for the Innovation of the Year for launching COSI products in Germany. 2010 Five new companies are listed on the Swiss stock exchange: Transocean, Orior, Oxygen Biotherapeutics (secondary listing), Peach Property Group and Weatherford International. SIX Swiss Exchange posts a record level of growth in 2010, with eleven new, mainly international participants. 1
The previous rules and regulations for stock exchange participants are replaced by the new Rule Book, which simplifies the cooperation between the stock exchange and its participants. ETF and ETSF providers are now able to list their products on SIX Swiss Exchange in six different trading currencies: CHF, EUR, GBP, USD, JPY and CAD. The increase in Proximity Service Providers means that remote market participants now have even more options to choose from in establishing the fastest possible connection. Collateral Secured Instruments (COSI) enjoy an impressive growth rate; by the end of the year, 779 securities are listed with a total collateral volume of CHF 1.8 billion. SIX Swiss Exchange launches the new Market Quality Metrics (MQM) service for increased transparency and improved comparability in the ETF trading segment. As one of the first European stock exchanges to list Exchange Traded Funds, SIX Swiss Exchange celebrates the tenth anniversary of its ETF segment and can look back on an impressive success story. SIX Swiss Exchange begins to trade exchange-traded products (ETPs), a type of collateralized debt security mainly comprising commodity-related securities that complements SIX Swiss Exchange's existing trading segments. SIX Swiss Exchange introduces a new online tool, the Equity Liquidity Matrix (ELM), which increases market transparency between the reference market and competitors. The latest version of the SWXess trading platform is successfully implemented, giving participants significant performance improvements in terms of capacity and latency periods. 2009 Trading in the 32 Swiss blue chip stocks (i.e. the shares included in the Swiss Market Index and Swiss Leader Index), which today is operated on SWX Europe in London, will be relocated to SIX Swiss Exchange in Zurich by mid 2009. This measure will simplify the regulation and compliance for issuers, market participants and SIX Swiss Exchange itself. SIX Swiss Exchange launches SWXess, the successor to its previous trading platform, offering substantially increased capacity, lower latency and a tailor-made connectivity service for member banks. 2008 SIX Swiss Exchange launches a new information portal in November. The website are geared also to private investors. In October 2008 SIX Swiss Exchange and SWX Europe cut trading fees by a massive 30%. SWX Swiss Block, the non-displayed liquidity service and first "Dark Pool" in Europe, was established by SWX Europe, SWX Group's London based exchange. 2
The SMI stock exchange barometer celebrated its 20th year of existence. The Swiss Market Index (SMI ) was published for the first time on 30 June 1988 at an initial level of 1500 points. In April SIX Swiss Exchange and SWX Europe introduced a new simplified and transparent tariff model and a fee cut of 15% In January 2008, the three Swiss financial market infrastructure providers SWX Group, SIS Group and Telekurs Group merged to become Swiss Financial Market Services AG. In August 2008, the new company was rebranded SIX Group. 2007 Scoach Switzerland Ltd, the exchange for securitised derivatives, commences operation Introduction of a Central Counterparty (CCP) for SWX Swiss Exchange 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 Swiss Exchange 3
2003 virt-x is fully taken over by the SWX Swiss Exchange Agreement with Eurex is extended by 10 years Publication of sanctions imposed by the Executive Committee of the Admission Board on the SWX Swiss Exchange website 2002 ETFs, previously only traded on the SWX Platform, are also admitted to trading on virt-x The SWX Swiss Exchange 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 Swiss Exchange, 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 SIX Swiss Exchange Local Caps and Real Estate Companies segments 2000 Launch of SNMI, the SWX New Market Index The SWX Swiss Exchange 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 4
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 Swiss Exchange 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 5
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 None of the information contained herein constitutes an offer to buy or sell a financial instrument that is traded on SIX Swiss Exchange Ltd. SIX Swiss Exchange Ltd assumes no liability for the accuracy, completeness or for any damages arising from actions taken on the basis of information contained in this or any other of its publications. SIX Swiss Exchange Ltd expressly reserves the right to alter prices or product composition at any time. SIX Swiss Exchange Ltd, April 2012 6