Swiss ETF turnover rises 24.5% while combined SIX turnover falls in October

Swiss ETF turnover rose 24.5% in October to CHF14.003 billion, but the gains did not translate into higher turnover across SIX's combined Swiss and Spanish markets. The group's preliminary tables put October turnover at CHF148.970 billion, down 11.6% from September and 0.3% from October 2025. SIX published the figures on 3 November.[1][2]

BME's securitised-derivative turnover rose 20.5% month-on-month and 46.8% year-on-year to €31 million. The size difference matters: a high growth rate in that segment is not comparable in scale with billions of francs traded in Swiss ETFs. The combined turnover measure excludes the separate financial-derivatives segment.[1][2]

SIX reported that cumulative turnover across its markets reached CHF 1,570 billion in the first ten months of 2026, up 15.2% from the corresponding 2025 period. It separately stated CHF 1,058 billion year-to-date turnover on SIX Swiss Exchange, up 9.9%, and EUR 554.5 billion on BME, up 29.9%. The different currencies make a direct arithmetic sum of those two local-market figures inappropriate without a documented conversion basis.[1]

Segment gains within a weaker monthly total

Total Swiss turnover was CHF106.124 billion, down 5.2% from September but up 6.2% year-on-year. BME turnover was €46.105 billion, down 23.1% on the month and 13.5% on the year; its fixed-income turnover fell 66.4% month-on-month. Cash equities rose year-on-year in both markets, by 5.8% in Switzerland and 7.8% in Spain.[2]

Indices present a separate observation, not an exchange-revenue proxy. The Swiss Market Index closed October at 14,810.7 points, which SIX described as a record, while Spain’s IBEX 35 finished at 18,653.0 after a 4.0% monthly decline. Index levels reflect underlying share prices; they should not be used to infer turnover growth or the profitability of an execution venue.[1]

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