SIX Swiss Exchange and Liquidnet Expand SLS Offering

SIX Swiss Exchange and Liquidnet have announced the expansion of the SIX Swiss Exchange Liquidnet Service (SLS). The platform, developed to execute large block orders, is set to include 1,200 additional stocks from the Belgian, Danish, Finnish, Austrian, Portuguese and Swedish equities markets. This increases the number of markets covered by SLS to 11.

SLS, launched in July 2011, initially covered 3,000 stocks from markets in Switzerland, Germany, France, the UK and the Netherlands, allowing SIX Swiss Exchange clients to direct executable block orders to Liquidnet's global trading network, which includes 700 buy-side firms that collectively manage $ 12.4 trillion in assets.

SLS offers the buy side a platform to work large block trades, executed at the mid-point price of the primary exchange. As of July last year, the average trade size through SLS was approximately $705, 000, larger than any other MTF and exchange (dark or lit).