Bloomberg: Aquis Exchange Plans to Follow Swiss Tick Sizes, Defying MIFID
January 11, 2018
By Viren Vaghela
Aquis Exchange said it would follow the tick size regime for all Swiss stocks to reflect the average daily number of transactions of stock trading in that market rather than in the biggest EU market, it said in a notice to members.
Venues in Switzerland, such as SIX Exchange, can use the average daily number of transactions in their own market, which allows them to price these stocks more competitively than European exchanges.
The new measures take effect for Aquis members on Jan. 12
“All these wrinkles in MiFID are gradually coming to light and will be ironed out,” said Aquis CEO Alasdair Haynes.