SIX Swiss Exchange Extends Structured Products Trading to Nearly 14 Hours

The SIX Swiss Exchange has expanded its trading hours for structured products, now operating from 8:00 a.m. to 9:45 p.m. Central European Time (CET), adding almost six hours to its previous 9:15 a.m. to 5:15 p.m. window. The extension, effective Monday, allows retail investors to trade more than 70,000 listed structured products during a period that overlaps with most of the U.S. trading session.

Investors can place orders through their usual brokers without additional access requirements or fees. SIX created a separate trading segment for the longer hours rather than extending the existing one, allowing issuers to choose which segment to list their products in. According to the exchange, both segments operate identically aside from the trading schedule.

Structured products on SIX are heavily weighted toward leverage instruments, which account for 78% of available products. Yield enhancement products make up 18%, participation products 2.4%, and capital protection products under 1%. Extended hours give investors more time to adjust positions in response to movements in U.S. stocks and indices, which often influence pricing for these derivatives.

Gregor Braun, Co-Head of Cash Markets at SIX, said the change was client-driven: "In doing so, we're directly addressing client demand by extending trading hours for structured products and broadening access to new opportunities to invest."

The move comes amid growing competition from exchanges and brokers offering extended or round-the-clock trading. The 24X National Exchange launched a 23-hour weekday trading platform for U.S. stocks in September, while Nasdaq plans a 24-hour trading system in the second half of 2026. London Stock Exchange is also exploring 24-hour operations. Brokerage platforms such as eToro, Schwab, and Fidelity have similarly expanded overnight access for retail clients.

However, the World Federation of Exchanges has warned that extended trading presents operational challenges and is not suitable for all markets. It noted that lower participation outside regular hours can lead to wider spreads and increased volatility.

Sébastien Neukom, Head of Structured Products Sales at SIX, highlighted the benefits for issuers: "Longer trading hours increase product visibility and potential demand, making the market more attractive while effectively enlarging it." The exchange noted that retail investors will continue to access the market through their regular brokers, allowing them to respond to U.S. market developments in real time.

SIX did not indicate whether most trading volume is expected to shift to the extended segment or remain evenly distributed between the two trading windows.