Detailed overview of the amendments as of 12 May 2025
Trading Regulations - Detailed overview of the amendments SWXess Maintenance Release 15 (SMR15) Entry into force 12.05.2025
The following material amendments have been made to the Trading Rules:
Document Type Reference Title
Directive 1: Deletion Clause 6.2 para. 3 Provisions for the trader examination – Examination requirements and program Admission of Participants
Directive 3: Change Clause 5.1.2 para. 1 lit. c Order – Order types Trading
Directive 5: Change Clause 9.6 para. 1 lit. c) Trading in SwissAtMid – Order Alternative Trading types
Change Clause 9.15 para. 1 lit. c) Trading in SwissAtMid – Performance score for indicative Block orders
Change Clause 11.7.1 para 1 Trading in Quote on Demand – Quote - Quote definition
Change Clause 11.7.2 para 1 lit. b) Trading in Quote on Demand – Quote - Quote specification
Change Clause 11.9 para 3 Trading in Quote on Demand – Trading modes
Change Clause 11.10.1 para 3 Trading in Quote on Demand – Market model – Execution priority
Change Clause 11.10.2 para 2 lit. b) Trading in Quote on Demand – Market model – Trades of quote requests
New Clause 13.4 para 3 Trading in QOD CHF-Bonds – Liquidity Providers
Change Clause 13.6 para 3 Trading in QOD CHF-Bonds – Specification of quote request
Change Clause 13.7 para 2 - 3 Trading in QOD CHF-Bonds – Trades of quote requests
Guideline Change Clause 8.3 para 1 Fees for on-exchange trading List of charges under the without pre-trade transparency – Trading Rules Ad valorem fee
Change Annex J - Clause 1.2.2 para 1 ETF and ETP – Market Maker Tarif – lit. b) Ad valorem fee
Change Annex J - Clause 3.1 Capacity fees – QPS capacity fee for market makers
New Annex J - Clause 3.1.2 ETF and ETP – Capacity fees – QPS capacity fee for market makers – Shared QPS capacity free of charge
Change Annex S - Clause 2.2 Capacity fees – OTPS capacity fee – OUCH Trading Interface (OTI) – Non-Equity
Guideline Change Annex A - Clause 2 para 5 lit. b) Blue Chip Shares – Market model, “Trading Parameters” order types and trading services
Change Annex B - Clause 2 para 5 lit. b) Mid-/Small-Cap Shares– Market model, order types and trading services
Change Annex C - Clause 2 para 5 lit. b) Sparks Shares– Market model, order types and trading services
Change Annex D - Clause 2 para 5 lit. b) Global Depository Receipts – Market model, order types and trading services
Change Annex I - Clause 2 para 5 lit. b) Investment Funds – Market model, order types and trading services
The following material amendments have been made to the Reporting Rules:
Document Type Reference Title
Reporting Office Rules New Clause 5.3 para. 1-5 General terms and conditions, and place of jurisdiction - Confidentiality
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