Trading On SIX Swiss Exchange
Trading on SIX Swiss ExchangePreparatory Examination Documentation for TradersModule TradingJune 2020Sensitivity: Public
Trading on SIX Swiss ExchangeTable of ContentsTable of ContentsTable of Contents. 21.Introduction. 71.1.Types of Trader Examination . 81.1.1.Examination for Non-Licensed Traders ("Trading" and "Rules and Regulations" Modules – Manual Parts 1 and 2) . 91.1.2.Examination for Licensed Traders ("Trading" Module – Manual Part 1) . 91.2.Structure of the Trader Examination . 91.2.1.Question Types and Evaluation . 91.2.2.Aids during the Examination. 101.3.Tips on preparing for the Exam . 102.SIX . 112.1.Aspiration and Success Factors. 122.2.Business Areas and Structure of SIX. 123.SIX Swiss Exchange . 133.1.Introduction . 133.2.SIX Swiss Exchange AG . 134.Trading Participants . 154.1.Overview of Market Participants . 154.1.1.Securities Firms . 154.1.2.Market Maker and Liquidity Provider . 154.1.3.Traders . 154.2.Participant Admission Requirements . 164.2.1.Authorisation as Securities Firm or Remote Participant . 164.2.2.Participation in a Clearing and Settlement Organisation. 164.2.3.Collateral Deposit . 164.2.4.General Information on Exchange System Access . 164.3.Participants' Rights and Obligations . 174.3.1.Continued Compliance with Admission Requirements . 174.3.2.Compliance with Statutory and Regulatory Provisions . 174.3.3.Use of the Exchange System . 174.3.4.Record-Keeping Duties . 174.3.5.Duty to provide Information . 174.4.Organisational Obligations of Securities Firms. 184.4.1.Confidential Price-Sensitive Information . 184.4.2.Chinese Walls/Areas of Confidentiality . 184.5.Supervisory Rules for Market Conduct in Securities Trading (Art. 142ff FMIA) . 184.5.1.Permitted Securities Transactions . 184.5.2.Market Manipulation . 194.5.3.Overview Market Manipulation . 204.6.Swiss Bankers Association Guidelines . 205.Technical Connectivity . 225.1.Connectivity Technology . 225.2.Types of Connectivity for Trading Participants . 235.3.Interfaces . 235.3.1.Standard Trading Interfaces (with added Benefits) . 245.3.2.Standard Trading Interface (STI) . 24Sensitivity: Public
Trading on SIX Swiss ExchangeTable of Contents5.4.Direct Trading Interfaces . 245.4.1.OUCH Trading Interface (OTI) . 245.4.2.Quote Trading Interface (QTI) . 255.5.Market Data Interfaces . 255.5.1.ITCH Market Data Interface (IMI) . 255.5.2.SIX MDDX Multi-Dimensional Data fluX Interface (SIX MDDX). 255.6.Reference Data Interface (RDI) . 265.7.Trader ID . 275.8.Direct Market Access for Clients . 275.8.1.Clients with Direct Market Access (Direct Electronic Access) . 275.8.2.Clients with Sponsored Access . 286.The Business Day . 307.The Trading Process in Different Exchange Periods . 327.1.Pre-Opening . 327.2.Opening . 327.3.Continuous Trading . 337.4.Closing . 337.4.1.Close of Trading without Closing Auction . 337.4.2.Close of Trading with Closing Auction . 337.5.Trading-At-Last (TAL) . 347.6.Post-Trading . 358.Exchange Trading . 368.1.Market Models . 368.2.Order Placement: Orders and Quotes . 388.3.Order . 388.3.1.Order Entry Attributes . 388.3.2.Routing Instructions . 398.3.3.Order Types . 428.3.4.Price Limit . 448.3.5.Order Validities . 448.3.6.Exceptions to Pre-Trade Transparency . 468.3.7.Special Features of Orders via OTI . 478.3.8.Order Flagging . 478.4.Quotes . 488.5.Expiry Options and Entry Times for Orders and Quotes .
Trading on SIX Swiss Exchange Introduction 7 159 Sensitivity: Public 1. Introduction SIX Swiss Exchange AG’s (SIX Swiss Exchange) trader training and testing programmes set high
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This document will explain how to logon to your Trading Platform. All the Trading Interfaces (the Trading Chart and the 3 different Trade Windows) use a Profile to logon to your data feed and the contract you want to trade. Everything you need to use your Trading Platform is accessed from the Menu at the top of the Trading Chart and Trading .
Trading System, Trading Rules and the Trading Plan 42 Example of Trading Rules 43 Chapter 6: Establishing a Trading Schedule 45 U.S. National Exchanges 45 Regional U.S. Exchanges 46 Canada 46 Europe 46 U.K. 47 Japan 47 Chapter 7: Setting up a Trading Journal 49 The Trading Journal-your best friend 50
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