SIX Swiss Exchange, a leading marketplace for trading securities in Switzerland, has just published its first newsletter for 2015, with one of the main topics of the document being the decision by the Swiss National Bank to remove the cap on the exchange rate between the Swiss franc and the euro.
The newsletter shows that the appreciation of the CHF on January 15, 2015, led to a sharp increase in trading volumes at the venue.
On that day, which became widely known as Black Thursday, the trading volumes on SIX reached record CHF 27.7 billion (USD 29.01 billion). The figure is six times higher than the average daily volume at the venue. More than one million transactions were processed that day, the announcement by the exchange says.
SIX’s announcement continues to say that its operations were undeterred by the increase in volatility and that its systems handled the surge in volumes normally.
To view the official announcement, click here.