SWX Group today announced a reduction in tariffs for trading SMI equities, pan-European shares and ETFs on virt-x, its London-based stock exchange. The ongoing tariff reduction is in addition to a waiver of all trading fees on virt-x for the period of 1st October 2006 to 31st December 2006.
The fee waiver will allow the participants of the exchange to benefit further from high market volumes seen so far in 2006. As a user owned organisation SWX Group is committed to delivering real value back to its market users. As well as providing an efficient and competitive trading environment for Swiss and pan-European stocks, this initiative, developed in consultation with members, demonstrates how the Group shares the benefits of increased efficiencies and higher volumes with its market participants.
- As of 1st January 2007, the trading tariffs will be substantially reduced across all Swiss, pan-European blue chip trading and ETFs. In total, these measures will equate to an average annual saving of approximately 15 % for users.
- Furthermore, from 1st October 2006 to the end of the year, no fees will be charged in all segments to which the new lower tariffs apply. As a result, members will benefit from total savings estimated at GBP 13million (CHF 30million).
Jürg Spillman, Head of the Group Executive Committee, said: “We are pleased to announce tariff reductions for our members. The SWX Group is focussed on evolving its exchange services to continually meet the needs of the trading community. As a member-owned organisation, the benefits of the Group’s success this year can be directly returned to our participants, our users will benefit in the form of cost savings both in the short term via the three month fee waiver and on an ongoing basis through reduced fees and simplification of our tariff structure”.