Swiss Exchange Finalizes Fees for MTF Data Use

The SIX Swiss Exchange has announced a new category of fee-liable non-display data usage, specifically targeted at trading venues that use the exchange’s market data as a reference price to support their own competing marketplaces.

The revised policy now includes a new category of non-display usage known as “Reference Price-Based Systems,” which classifies execution venues according to the number of trading firms participating on their markets. Trading venues with up to 50 participants will be

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