SIX Swiss Exchange today announced it is consolidating its position as a leading trading venue for international blue chips. From today SIX Swiss Exchange is enabling investors to trade certain US stocks in its Sponsored Foreign Shares trading segment directly in US dollars, thereby lending them even more flexibility in the implementation of their investment decisions.
Renell Wertpapierhandelsbank AG is acting as sponsor and market maker for an initial 70 US stocks. These include the world’s ten most highly valued companies – Apple, Alphabet (formerly Google), Microsoft, Amazon, Berkshire Hathaway, Exxon Mobil, Facebook, Johnson & Johnson, General Electric and Wells Fargo.
“We are pleased to offer US stocks in an additional trading currency. In this way we are enhancing the attractiveness of our securities universe in the Sponsored Foreign Shares trading segment for Swiss investors”, comments Marc Renell, CEO of Renell Wertpapierhandelsbank AG.
The stocks that are now available in USD continue to be tradable in Swiss francs during Swiss trading hours along with more than 400 additional international blue chips, for which ICF BANK AG Wertpapierhandelsbank also acts as sponsor along with Renell Wertpapierhandelsbank AG.
Gregor Braun, Head Product Sales at SIX Swiss Exchange said:
“Sponsored Foreign Shares open up the whole world to investors. Private investors can buy and sell stocks, for example via online trading tools, during their usual trading hours on SIX Swiss Exchange and thereby potentially benefit from major cost savings.”