Directive 6: Market Information
(DIR06)

Directive 6: Market Information SIX Swiss Exchange Ltd

dated 17 November 2025 Entry into force: 2 March 2026

Sensitivity: C2 Internal

Directive 6: Market Information 02/03/2026

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Directive 6: Market Information 02/03/2026

1 Purpose and principle

This Directive contains provisions on the use and further transmission of market information which is sent to the participant via the exchange system and is based on Clause 14 Trading Rules.

2 Market information

The term "market information" in the meaning of this Directive shall include all data transmitted via the following interfaces: a) the ITCH Market Data Interface (IMI); b) the SIX MDDX Multi-Dimensional Data fluX™ interface (SIX MDDX); and c) the Reference Data Interface (RDI).

3 Use of market information by registered traders and reporting

agents 1 The Exchange may charge fees for the use of market information for trading purposes or for the reporting of trades by the participant’s registered traders or reporting agents. 2 The details are laid down in the "List of Charges under the Trading Rules".

4 Further use

1 The further use of market information does not form part of the participation agreement. 2 "Further use" refers to use by non-display applications, including automated trading systems, or forwarding to third parties (including Sponsored Users and clients with direct electronic access).

5 Authorisation required for further use

1 Further use is subject to prior approval from SIX Exfeed AG and is also subject to market data fees. 2 Authorisation is deemed in particular to have been given if the exchange participant concerned has duly signed a corresponding Data Supply Agreement with SIX Exfeed AG on the use of SIX Swiss Exchange price data. 3 In exceptional cases for which sufficient grounds exist, market data fees may be waived for automated trading systems. This is conditional upon the participant using the price data exclusively for trading on SIX Swiss Exchange markets, confirmation of which must be provided by the compliance officer. 4 In cases of the undeclared further use of real-time data, the fee for non-display applications will be invoiced with retroactive effect, i.e. for the period for which data had been used but not declared to SIX Exfeed.

6 Participant's obligations to inform

1 The participant shall provide the Exchange and/or the Regulatory Bodies with all information necessary to comply with this Directive, in particular information on automatic trading systems and the clients who have direct access to the market information.

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Directive 6: Market Information 02/03/2026

2 The participant undertakes to inform the Exchange of every use in accordance with Clause 4. 3 The participant shall inform the Exchange of the individual responsible for fulfilling the obligation to inform.

7 Inspection right

The Exchange and/or the Regulatory Bodies have the right to conduct on-site inspections of the correct use of the market information at the participant at any time.

Resolution of the Participants & Surveillance Committee of the Regulatory Board of 17 November 2025; in effect since 2 March 2026.

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