Transaction Rules Switzerland

Keytrade Bank offers online access to the SIX Swiss Exchange.

The SIX Swiss Exchange is the market where you can trade Swiss and international shares.

SIX Swiss Exchange has been created as a real response to the ever-growing demand from both the investment and corporate communities for a pan-European blue chip. You can trade bleu chips (Swiss as well as international).

Opening times

De SIX Swiss Exchange is open from 9 a.m. till 5.30 p.m. SIX Swiss Exchange is open from 9 a.m. till 5.30 p.m. The orders are sent to the stock exchange from 8 a.m. onward, but remain in "Wait" status until 9.00 a.m. Day orders are cancelled at 5.30 p.m. Orders placed after 5.30 p.m. are sent to the exchange on the next trading day.

Types of orders allowed

1° Market order

A market order makes it possible to buy or sell securities immediately at the best price available on the market. It gives you no guarantee on the final price of the transaction (especially if there is high activity in the security), but on the other hand there is a greater probability that your order will be executed. If you want to place a market order, do leave the "price" field empty.

2° Limit order

A limit order is an order at a certain price and certain quantity, which can be executed in total or partially. If there is a partial execution the non-executed part remains in the order book.

It makes it possible to set a limit both when buying and selling, but of course gives no guarantee concerning the execution of the order.

For example, with a sell order the limit price is the minimum price at which you are prepared to sell, your order will not be executed at a lower price. When you want to place a limit order, you need to fill in the field "price".

Duration of the validity of orders

It is possible to specify how long placed orders are to remain valid. There are two possibilities:

• Day Your order will be valid for that day only. If it is not executed, then it will be automatically cancelled. In case you entered a day order after closure of the stock exchange, your order will be valid the next trading day.
• GTC (Good Till Cancelled - Valable jusqu'à annulation)Your order will be valid for 90 days. If the date you introduced is a holiday, your order will be valid till the closure of the working day after the holiday. You, the stock market or Keytrade Bank can cancel the orders.

Remark 1: When a day order partially gets executed during a trading day, the remaining part that has not been executed yet will be cancelled at the end of the day. If you want the remaining part to be traded, you will have to enter a new order for the remaining part. For this new order a transaction fee will be counted.

When placing a GTC order the remaining part of the order will still be valid on the market until it will be executed or cancelled. In this case you only pay one transaction fee, regardless the number of partial executions.

Orders can be cancelled either by you, by the exchange or by Keytrade Bank.

Remark 2: If you wish to use the revenue of a sell, you must take into account the value date of the generated cash.

Tick sizes of the market

Value dates per market:

Remark 3: If you enter a limit order, your limit may not diverge too much from the last price. If you don’t respect this rule, your order will be rejected. In the diagram below, you find the authorized deviation compared to the stock price.