The Swiss Exchange has reported year-on-year growth in trading volumes of more than 50%, the exchange announced this month.
The SWX and virt-x, the electronic exchange, recorded a combined total turnover of CHF128 billion (US$103 billion) in July 2006. While this represents a month-on-month decline in volume of 19%, a comparison with the first seven months of 2005 still reveals impressive growth of 51%.
The growth leader in this period was the certificated derivatives segment, which expanded by 64%. July saw volumes of equity products (+24%), certificated derivatives (+ 10 %) and international bonds (+43 %) far exceed their year-back levels.
Meanwhile, movements in the share index show that prices were generally higher in July 2006: the SMIM price index has risen by more than 14% over the year to date. On the bond front, however, the SBI is showing a loss of 2.1% since the beginning of the year.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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