SIX Reports Overall Slowdown in April Trading, Crypto Demand Gains

Switzerland’s stock exchange, SIX, released its trading data for April, showing a 20.6 percent decline in demand month-over-month. The exchange recorded a trading turnover of CHF 109.8 billion for the month.

The official data shows that there was a decline in most of the key trading metrics. The trading volume decline was triggered by a lesser trade execution number, which, for April, came in at 5,148,483, 19.4 percent lower than the previous month.

Demand for equities and exchange-traded funds (ETFs) dominated with 4,925,792 trades being executed, bringing a total turnover of CHF 90.8 billion. CHF and non-CHF bonds generated volumes of CHF 9.2 billion and CHF 1.79 billion, respectively.

The decline in trading demand can also be observed in the numbers of the first four months of the ongoing year. The total turnover generated from the trading activities from January to April came in at CHF 486.8 billion, 34 percent less than what the exchange recorded in the same period last year.

However, it should be noted that the trading venues across the globe earned a windfall in March 2020 due to the financial market turmoil created by the Covid-spurred volatility. Those record monthly numbers not only impacted the quarterly financials of exchanges but also dragged the yearly revenue and profits. The operating income of the exchange jumped by 21.8 percent last year.

Crypto Demand Soars

SIX is one of the few traditional exchanges listing many cryptocurrency products as well. These products generated a turnover of CHF 845.8 million, 36 percent higher than the previous month. And since the beginning of this year, demand for crypto products jumped by 194 percent. Last month, FortuneZ reported that Seba bank joined the Swiss exchange to list crypto ETPs.

(Photo: SIX)

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