Crypto trading volume drops 20pct at Swiss Stock Exchange

abdelaziz Fathi

Switzerland’s principal exchange has experienced a sharp decline in trading activities for October 2022, according to its latest report. The broader digital-asset market remaining bearish and the recent selloffs have also contributed to the disappointing crypto figures, the report suggested.

The Swiss Stock Exchange saw bleak trading results with volumes aggregating to CHF 79.3 billion, down 16 percent from 95 billion a month earlier.

As volatility dropped to levels below the extraordinary peaks of the previous year, trading activity on SIX Swiss Exchange also stabilized in the second half of 2022.

The statistical report shows that trading turnover at the exchange’s venues, including on SIX Structured Products Exchange Ltd, had a combined nominal value of less than $80 billion, at today’s rates, in October.

In terms of the total number of transactions, the volumes were numbered at 4.71 million, also a loss of 3 percent month-on-month compared to 4.86 million transactions reported for September 2022.

Taking a year-to-date perspective, trading turnover on SIX Swiss Exchange reached a total of CHF 1,035.0 billion, 3.1% less than in the corresponding period in 2021, while the number of transactions was 0.9% lower with a total of 52,135,512.

The highest turnover on a single trading day was recorded on 4 October, which saw securities worth a total volume of CHF 4.6 billion changing hands. The highest number of trades was recorded on 14 October, with 270,075.

The Zurich-based market operator also said that cryptocurrency products hit a trading turnover of CHF 68.8 million ($69 million), down from CHF 87.1 million the previous month. In total, 173 products were traded and 4,751 transactions concluded. The highest turnover was recorded by ABTC, an ETP on Bitcoin, with CHF 15.2 million; the most transactions were recorded by AETH, an ETP on Ethereum, with 928 trades.

The infrastructure of SIX once again proved popular and reliable, providing the solid bedrock for new crypto listings. Part of this expansion, Global X, a New York-based provider of exchange-traded funds, joined the ranks of ETPs issuers at the SIX Swiss Exchange.

With the Bitcoin and Ethereum ETP listing by Global X, a total of 168 ETPs with cryptocurrencies as underlyings are offered for trading at SIX Swiss Exchange.

With its strong track record starting in the US, Global X is joining the SIX’s issuer ranks and further expanding the product range to focus on growing its footprint. This brings the total number of crypto issuers to 14. With 18 different cryptocurrencies as underlying assets, SIX currently offers investors access to 208 products, the largest choice of any regulated exchange.


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