JP Morgan starts trading in SIX Swiss Exchange Liquidnet Service (SLS)

Vista Equity Partners has made an agreement to purchase Canada’s leading lending, payment and financial solution software supplier D+H for C$4.8bn.

SLS is a long-standing partnership of SIX Swiss Exchange with Liquidnet and provides access to the largest pool of buy-side block liquidity in Europe.

SLS will provide JP Morgan with access to genuine block liquidity with unrivalled average execution size, providing maximum price improvement and minimal market impact. SLS unites participants with over 830 buy-side institutions actively trading more than 3’100 large-, mid- and small-cap stocks across 13 markets.

Gregor Braun, Head Product Sales at SIX Swiss Exchange, commented: “To enjoy the benefits of SLS, our participants can use their existing connection without any additional fees or contractual agreements. This extends to the post-trade arrangements which include interoperable CCP.”

Chris Andrew, Executive Director at JP Morgan, added: “This is a partnership that will add a unique pool of high quality liquidity to our client offering, consistent with our goal to provide the most diverse and optimal liquidity access.”

Responding to client needs

Since February 2017, SLS includes two additional European markets. The internationalization of the SIX Swiss Exchange Liquidnet Service provides participants with more options to satisfy their growing need for non-displayed trading. JP Morgan is one of several companies connecting to SLS in the recent months in the context of rising volumes.

Furthermore, the exchange has launched SIX Swiss Exchange At Midpoint (SwissAtMid), which is operated in parallel to SLS, in October 2016. SwissAtMid offers an innovative new way to trade Swiss equities, allowing executions in a non-displayed pool at the mid-point of our lit order book. And the new Sweep order type looks for an execution in SwissAtMid before routing to the lit order book – all in one cycle.

Our website provides more information on Trading without pre-trade transparency and the benefits of becoming a participant on SIX Swiss Exchange.