The SMI futures market is based upon the Swiss Market stock index, which is the primary stock index of SWX (Swiss Exchange) in Switzerland. The SMI index consists of a maximum of 30 of the largest (in terms of liquidity and capitalization) Swiss companies. The SMI index is calculated in real time using the prices from the SWX electronic trading system, and the SMI futures market is traded on the SWX electronic trading system from 9:00 to 17:30 Central European Time. The SMI futures market has a daily trading volume of approximately 40000 contracts, and a daily price range of approximately 85 points (85 ticks).
Companies
As of March 2007, the SMI stock index includes the following 25 companies :
- Nestle
- Novartis
- Roche
- UBS
- CS Group
- Zurich Financial
- ABB
- Swiss
- Richemont
- Holcim
- Syngenta
- Julius Baer
- Nobel Biocare
- Swiss Life Holding
- Swatch Group (1)
- Adecco
- Synthes
- SGS
- Swisscom
- Givaudan
- Baloise
- Lonza
- CIBA
- Clariant
- Swatch Group (2)
Contract Specifications
The full contract specifications for the SMI futures market are as follows :
- Symbol (IB / Sierra Chart Format) : SMI
- Expiration date (as of March 2007) : June 15 2007
- Exchange : SOFFEX
- Currency : CHF
- Multiplier / Contract value : 10 CHF
- Tick size / Minimum price change : 1
- Tick value / Minimum price value : 10 CHF
Holidays
In 2007, the SMI futures market is open for trading every trading day (Monday to Friday), except for the following holidays :
- January 01
- January 02
- April 06
- April 09
- May 01
- May 17
- May 28
- August 01
- December 25
- December 26
Exchange Web Site
The SWX (Swiss Exchange) web site is available at http://www.swx.com/, and provides additional information about the exchange, its trading system, and the SMI index and futures market.
