Swissquote adds after-closing trading on SIX Exchange
Swiss online trading firm Swissquote has announced that, starting today, its clients will have an additional ten minutes to buy or sell stocks, after the SIX Swiss Exchange closes.
Swissquote launched what it calls Trading-At-Last (TAL). TAL gives traders the opportunity to place buy and sell orders at the official closing price for ten extra minutes after the market closes (between 17.30 and 17.40 CET). The impetus behind the move is that the closing auction on the Exchange is a big liquidity event.
Swissquote said that advantages of TAL include:
- additional post-auction liquidity
- orders at the official closing price
- regulated on-exchange environment
- no extra fees
Zurich based SIX Swiss Exchange is Switzerland’s principal stock exchange. SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as stock options.