UPDATE: Six Swiss Exchange issue resolved as of 14:02 CET (13:02pm BST). Equities, ETFs, ETPs and investment funds to resume trading at 14.30pm CET. Rights, options and structured products to resume at 14.45pm CET and bonds to resume at 15:00pm CET.
NOTE: It is an interesting side point that while equities and bonds operate on two different trading systems at Six Swiss Exchange, both asset classes were impacted by the data issue. This is because the On Book Matcher 1 (equities) and On Book Matcher 2 (non-equities) both utilise the Six market data service, Multi-Dimensional Data Flux (MDDX), which feeds directly into the SIX Common Access Portal (SCAP), and thus provides data to both asset classes.
UPDATE: Swiss equities are back down, Global Trading is told by market sources – after being back online for less than a minute. Six Swiss Exchange confirmed at 11.46am CET that trading has been halted again “until further notice” due to technical issues. No matching is occurring.
UPDATE: As of 11.02 am CET, Six Swiss Exchange confirmed that the technical problems with SIX MDDX had been resolved, although the cause of the problems is “still being analysed”. Trading in equities, investment funds, ETFs, ETPs and sponsored funds is expected to resume at 11:30am CET, while rights and options and structured products will resume at 11:45am CET. Bond trading is expected to resume at 12:00pm CET.
A reported market data issue impacting Six Swiss Exchange (XSWX) and Bolsas y Mercados Españoles (BME) has seen trading suspended, impacting MTFs across Europe.
Six Swiss Exchange declined to comment when contacted, but issued a technical notice confirming that: “Trading has been halted at 10:00 am CET until further notice due to technical problems with SIX MDDX. Order maintenance is possible. No matching occurs.”
Global Trading understands from market sources that as of 10:50 am CET (09.50am BST), Spain was back trading, with Swiss names expected to resume by 11:30 am CET (10.30am BST).
A notice from Turquoise, released this morning and seen by Global Trading, confirmed that: “Further to technical issues reported by our market data supplier, the XSWX inbound market data feed is not available. As a result, instruments from this market are currently not available for trading on Turquoise Plato (TRQM) and Turquoise Lit Auctions (TRQA). The Turquoise Lit Order Book is trading as normal.”
Aquis Exchange confirmed to Global Trading that it is also experiencing knock-on issues. “Aquis Exchange MTFs EU and UK continue to investigate an issue relating to inbound market data for the AMP (dark) order books in Spanish and Swiss securities,” it said in a member alert. “AMP dark trading in Spanish and Swiss securities remain halted on Aquis. DLO orders will be accepted and will be routed straight to the lit order book. Trading on all other markets and Aquis order books continues as normal.”
The issue follows a previous market outage from Six Swiss Exchange in June 2023, its worst in a decade, with trading halted for three hours due to a matching issue.
Further information is expected to follow.
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