SIX Introduces Bilateral Platform for OTC Securities

The first trade on XBTR was executed between Credit Suisse and Leoteq

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In November 2015, Swiss vendor SIX Exchange announced that it was about to build a platform for trading structured securities, with Leonteq to be the first firm to join. On April 15, the first trade between Leonteq and Credit Suisse took place.

A Mimic of a Phone Call

In the OTC market, bilateral trades are usually made via a phone call or Bloomberg message. The two parties call each other and start negotiating or talking about buying or selling a product before entering it into a system that go

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