Detailed overview of the amendments as of 6 December 2021
Trading Regulations - Detailed overview of the amendments SWXess Maintenance Release 10 (SMR10) Entry into force 06.12.2021
The following material amendments have been made to the Trading Rules:
Document Type Reference Title
Trading Rules Change Clause 3.2 Participation in a clearing and settlement organisation
Change Clause 4.5 para. 1 lit. e) Duty to provide information
Change Clause 10.5 para. 2 Market control
Change Clause 10.8 para. 2 Pre-trade transparency
Change Clause 10.10.3 para. 1 - 3 Deletion of orders and cancellation of trades
Change Clause 15 para. 3 General provisions
Change Clause 17.1.3 para. 1 General Clearing Member (GCM)
Change Clause 22 para. 4 - 6 Confidentiality
New Clause 23 para. 2 Data protection
Change Clause 26 para. 2 Binding nature
New Clause 30 para. 22 Revision
Directive 2: Change Clause 6.1.1 Standard Trading Interface (STI) Technical Connectivity Change Clause 6.1.2 OUCH Trading Interface (OTI)
Change Clause 6.1.3 Quote Trading Interface (QTI)
Change Clause 6.1.4 SIX Trading User Interface
Directive 3: Change Clause 12 para. 2 Pre-trade controls Trading New Clause 13 para. 1 lit. e) Trading interruption
Change Clause 23.1.2 Incorrect Trade Reports to the Exchange
Change Clause 23.2.1 para. 1 and 2 Cancellation of trade by Exchange
New Clause 23.2.2 Cancellation of Trade Reports by the participant
Change Clause 23.3 Effect of a cancellation
New Annex B – lit. e) Trade Types
Directive 5: Change Clause 3.1 para. 1 Trading interfaces Alternative Trading Change Clause 3.1 para. 2 Trading interfaces
Deleted Clause 4.2 Post-Trade Transparency
Change Clause 9.1 SwissAtMid – Tradeable securities
Change Clause 9.4 para. 2 SwissAtMid - Order book without pretrade transparency
SIX Swiss Exchange Ltd T + 41 58 399 5454 Pfingstweidstrasse 110 www.six-group.com P.O. Box CH-8021 Zurich
Trading Regulations - Detailed overview of the amendments Entry into force 06.12.2021 SWXess Maintenance Release 10 (SMR10)
Document Type Reference Title
New Clause 9.4 para. 4 SwissAtMid - Order book without pretrade transparency
Change Clause 9.5 para. 1 SwissAtMid - Definition of order
Change Clause 9.6 para. 1 SwissAtMid - Order types
New Clause 9.6 para. 5 SwissAtMid - Order types
Change Clause 9.7 para. 1 lit. e) – g) SwissAtMid - Order specification
New Clause 9.7 para. 1 lit. i) 5. and lit. SwissAtMid - Order specification j) and k)
Change Clause 9.8 SwissAtMid – Price Step
New Clause 9.9 SwissAtMid – Firm-up phase for indicative Block orders
Change Clause 9.10.1 para. 1 and 2 SwissAtMid - Quantity-time priority
Change Clause 9.10.2 para. 2 and 3 lit. c SwissAtMid - Mid-Point Price Execution
New Clause 9.12 para. 2 SwissAtMid - Pre-trade controls
New Clause 9.14 SwissAtMid – Post-Trade transparency
New Clause 9.15 SwissAtMid – Performance score for indicative Block orders
Change Clause 10.1 para. 1 Swiss EBBO - Tradeable securities
Change Clause 10.9 Swiss EBBO – Price Steps
New Clause 10.14 Swiss EBBO – Post-Trade transparency
Change Clause 11.1 para. 1 Quote on Demand - Tradeable securities
Change Clause 11.8 para. 1 and 2 Quote on Demand – Price Steps
Change Clause 11.14 Quote on Demand - Post-Trade transparency
Directive 7: Change Clause 5.1 para. 2 Principles Sponsored Access Change Clause 8 para. 1 Risk management controls
Guideline Change Annexes A, and B – Market model, order types and trading “Trading Parameters” Clause 2 services
Change Annexes I and Q – Market model, order types and trading Clause 2 services
Change Annexes A, B, H, I and Q – Order values Clause 3
Change Annexes A, B, H, I and Q – Price Steps Clause 5
Change Annexes A, B, C, D and E – Deadline for reporting off-order-book Clause 8 trades
New Annexes I and Q – Delayed publication of off-order-book
SIX Swiss Exchange Ltd T + 41 58 399 5454 Pfingstweidstrasse 110 www.six-group.com P.O. Box CH-8021 Zurich
Trading Regulations - Detailed overview of the amendments Entry into force 06.12.2021 SWXess Maintenance Release 10 (SMR10)
Document Type Reference Title Clause 9.2 trades
Change Annex P – Clause 6.1 Market making
New Annex P – Constant Proportion Portfolio Insurance Clauses 6.1.4 and 6.1.5 (CPPI) Credit Default Warrants (CDW)
Guideline New Clause 5.4 para. 2 Cancellation Fee List of charges under New Clause 8.3 para. 2 lit. c) Ad valorem fee the Trading Rules Change Annex A – LPS CLOB requirements Clause 1.2.7.1 lit. a) Nr. 2.
New Annex M – LPS SwissAtMid requirements Clause 5.1 lit. a)
Change Annex O – QPS capacity fee for liquidity providers Clauses 2.1.1 and 2.1.2
Change Annex P – Access Fee Clauses 1, 2 and 4 • Direct connection via Managed and Leased Line
Direct connection via Proximity Service
Direct connection via an Access Point abroad
The following amendments have been made to the Reporting Rules:
Document Type Reference Title
Reporting Office Rules New Clause 2.5 para. 2 Reporting deadlines
Change Clause 2.5 para. 3 Reporting deadlines
Change Clause 2.7.2 para. 1 and 3 Cancellation
Change Clause 5.4 para. 2 Applicable law and place of jurisdiction
Change Clause 5.5 Entry into force
New Annex A – General Supplements – Trade Types Clause 2 lit. e)
Guideline New Clause 6.1 para. 2 Fee for corrections, deletions and List of Charges under cancellations of reports the Reporting Rules
SIX Swiss Exchange Ltd T + 41 58 399 5454 Pfingstweidstrasse 110 www.six-group.com P.O. Box CH-8021 Zurich