According to the SWX, the ongoing tariff reduction is in addition to a waiver of all trading fees on virt-x for the period of 1 October 2006 to 31 December 2006.

SWX said that the fee waiver will allow the participants of the exchange to benefit further from high market volumes seen so far in 2006. The volume of trading in shares, derivatives and ETFs increased by 59%, 58% and 78% in the second quarter of 2006 compared with the corresponding period in 2005.

Trading tariffs will be substantially reduced again on January 1, 2007 across all Swiss, pan-European blue chip trading and ETFs. In total, these measures will equate to an average annual saving of approximately 15% for users, the SWX said.

From 1 October 2006 to the end of the year, no fees will be charged in all segments to which the new lower tariffs apply. As a result, members will benefit from total savings estimated at CHF30million (US$24.2 million, EUR19 million).

“We are pleased to announce tariff reductions for our members. The SWX Group is focused on evolving its exchange services to continually meet the needs of the trading community," commented Jurg Spillman, Head of the Group Executive Committee.

"As a member-owned organisation, the benefits of the Group’s success this year can be directly returned to our participants, our users will benefit in the form of cost savings both in the short term via the three month fee waiver and on an ongoing basis through reduced fees and simplification of our tariff structure," he added.