How to Trade on the BX Swiss Bern Stock Exchange

In addition to Switzerland's primary stock exchange (the SIX Swiss Exchange), Switzerland is also home to the lesser-known BX Swiss stock exchange in Bern. Most Swiss stocks are also listed on this exchange. All of the companies tracked by the Swiss Market Index, and most stocks included in the Swiss Performance Index, can be traded on the BX Swiss exchange.

These companies have secondary listings on the BX Swiss. The primary exchange for these stocks is the SIX exchange, where the bulk of trading is done. In addition to acting as a secondary exchange, the BX Swiss is also the primary listing for 21 Swiss companies.

Trade foreign stocks in Swiss Francs

A unique feature of the BX Swiss is that investors can buy and sell foreign securities in Swiss francs, instead of in their corresponding foreign currencies.

Over 1000 stocks from 30 countries

Altogether, thousands of stocks from over 30 countries can be traded in this way between 9:00am and 5:30pm Swiss time. Major foreign stocks which are listed on the exchange include Adidas, Amazon, Apple, and H&M. The exchange also lists numerous investment funds and derivatives.

Transparent costs

Fees on the BX Swiss are always listed in Swiss francs. The stock exchange fee is equal to 0.01 percent of a transaction's value, with a minimum fee of 10 francs and a maximum fee of 50 francs per transaction. This fee applies in addition to the brokerage fees charged by your broker.

Local vs. international brokerage fees

Trades in foreign stocks made on the BX Swiss exchange are technically local trades in Switzerland. That means you pay your stock broker's local transaction fee, instead of the (possibly higher) brokerage fee for foreign stocks. Brokers also do not charge foreign currency conversion fees and spreads because transactions are entirely in Swiss francs. The BX Swiss handles currency conversions, and currency exchange charges are factored into exchange fees.

Should I use the BX Swiss exchange for trading?

Before you trade on the BX Swiss, you should be aware that in many cases, you will not be trading stocks directly on their home exchanges, but with a market maker. The bid and ask prices offered by market makers for a security may differ from the prices on the exchange which hosts that security's primary listing.

Depending on the security, the broker you use, and the sizes of trades of foreign stocks in Swiss francs, using the BX Swiss can work out cheaper than trading the same stock on its home exchange.

Brokers which trade on the BX Swiss

Not all Swiss stock brokers trade on the BX Swiss. Banks which a direct connection to the BX Swiss include the Berner Kantonalbank, Credit Suisse, Flowbank, Julius Bär, Swissquote, Vontobel, and the Zürcher Kantonalbank.

Ask your stock broker whether they offer trading on the BX Swiss. If they do, you can have your broker perform trades on the BX Swiss instead of on the company's home exchange, when this is advantageous for you.

More information:
Interactive Swiss stock broker comparison