Quotes Quality Metrics: the acid test for structured products and issuers

Investors and market observers can check on this page how liquid a product is and how efficiently the issuer is making a market. The quality check is an internet-based control system developed by SIX Swiss Exchange in close coordination with the major issuers. SIX Swiss Exchange is setting new standards in transparency with the introduction of the quality metrics.

The following reference parameters are measured with a 10-day history every trading day per market maker and liquidity provider and per security:

— Average daily spread (in %) of the quotes (bid, ask) entered
— Average daily volume (units and monetary value) of the quotes
— Daily availability of quotes (incl. unilateral quotes) during official trading hours (as a percentage of official trading hours)
— Last buy and sell quote of the day

Details of how the quotes quality metrics are measured can be found in the description of the methodology: Methodolgy

Media release of 26 January 2009 on the quality metrics: Media Release

Third parties must sign the enclosed licensing agreement in case they intend to re-distribute QQM data.

Quality check: Overview of all products traded on SIX Swiss Exchange

The following downloadable csv file contains the daily quality metrics of market makers' and liquidity providers' quoting behaviour (Quotes Quality Metrics or QQM) for all products traded on SIX Swiss Exchange Ltd. The previous day's information is published by 2 p.m. at the latest. The list contains all data in accordance with the published methodology (see above).

For general information on data please contact us via email.