Despite BME’s fixed income trading turnover was up almost twofold year-on-year (YoY) in April, SIX Group saw a 7.3% month-on-month (MoM) decline in fixed income turnover across its Swiss and Spanish exchanges.
Total turnover was down 6.4% YoY to €16.2 billion.
The €12.9 billion reported by BME marked an increase of 96.2% YoY, but just 13% MoM. Year-to-date (YTD), €53 billion in turnover represents a 51.3% YoY increase.
SIX Swiss Exchange, parent of BME Exchange, also saw fixed income turnover increase – by a more placid 2.9% YoY, reaching €52.5 million. However, this also represented a 15% MoM decline. On a YTD basis, turnover was up 8.8%.
Gregor Braun, head of cash market sales for exchanges at SIX, stated, “We’re pleased with the strength of fixed income trading on BME Exchange, supported by the ongoing repatriation of bond issuance programmes from Spanish issuers previously listed on other European exchanges.”
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