Swiss stock exchange Six and Spanish stock exchange BME delivered record-breaking trading activity in February, driven by surging equity and ETF volumes, marking one of the strongest months to date for both markets.
Six Swiss Exchange’s ETF segment more than doubled turnover year-on-year to reach 11.2 billion Swiss francs (CHF). Its ETF Quote on Demand, an RFQ service, saw a second consecutive record month, exceeding CHF 1.2 billion in volume, a 17.9% rise from January.
BME Exchange also recorded robust ETF trading, up 23.7% month-on-month, reflecting a broader surge in investor appetite for ETFs across both platforms.Six consolidated its Swiss and Spanish platforms to boost performance following its acquisition of Spain’s BME in 2020.
Equities also enjoyed a good month, with Six’s equity trading turnover hitting CHF 76.8 billion, an 18% increase on February 2024. Overall trading turnover on Six rose 2.7% for the month and 20.4% year-on-year, as strong market sentiment carried into 2025. Year-to-date, total trading volume has surged 21.9%, underpinned by sustained equity market growth.
The SMI (Swiss Market Index) hit a milestone in February, breaking through the 13,000 mark for the first time on February 24 and closing at 13,042.5 points just two days later. By month-end, the SMI stood at 13,004.5, boasting an impressive 12.1% gain year-to-date, signalling investor confidence in Swiss blue-chip stocks.Six also saw remarkable growth in structured products, with over 10,000 new listings in February alone, taking the total listings for 2025 to 21,127 — a 23.1% increase in 2024.
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Investor demand for cryptocurrency-linked structured products remained resilient, topping CHF 1 billion in turnover so far this year across more than 50,000 transactions.BME Exchange mirrored this performance, recording €38.9 billion in total turnover, up 14.5% from January and 22.9% year-on-year. The equities segment drove much of this growth, with turnover hitting €28.4 billion — a 16.7% jump from the previous month — even as transaction volumes held steady at around 2.7 million trades. The IBEX 35 Index also surged, closing February at 13,347 points, up 7.9% month-on-month and 15.1% for the year.
On the Six Swiss Exchange, BioVersys made its debut at CHF 36.50 per share, reaching a market cap of around CHF 216 million. Meanwhile, BME welcomed its first IPO of 2025 with HBX Group, valued at EUR 2.84 billion at a reference price of EUR 11.50 per share.
Dimitris Mavroudis, head ETF/ETP product, exchanges, Six, commented: “The exceptional ETF trading activity we’re witnessing is indicative not only of the prominent status of the Swiss ETF market and the growth ambitions in the Spanish market, but also of the importance Six places on offering investors access to a truly dynamic and diverse product range.”
