Swiss banks and Nestle will be available for trading, among other local companies
We are happy to announce that starting today we will be offering 11 stocks from one of the premier stock exchanges in the world. The Swiss SMI index has been available for some time now, but we have received requests from our traders to trade its components such as UBS, Credit Suisse and Nestle.
Nestle is probably the most popular name among our additions and it is indeed the largest company in the SMI index, accounting for over a quarter of its weight. It is the largest food company in the world by revenue and the ninth largest by market capitalisation with $233 billion.
We also have two representatives of the famous Swiss banking system. Notorious for its secrecy bankers in the country have kept the strictest code of conduct regarding transactions and accounts for more than 300 years (starting with the French kings who didn’t want their dealings to be made public, coupled with the need for large loans).
The banks became known as a safe haven throughout the last centuries for anyone fleeing troubles in their own country, regardless where it was, most notably for Nazi gold. Although some countries have been pushing for change in the system, banks such as UBS and Credit Suisse remain a synonym of privacy and riches.
Two of the other main industries in Switzerland are also covered – pharmaceuticals with Novartis and Roche (the second and third by weighting in the local index) and insurance with SwissRe and ZurichInsurance.
Here is the complete list of additions and their respective business areas:
- UBS – Banking
- Credit Suisse – Banking
- Nestle – Food products
- Novartis – Pharmaceuticals
- Richemont – Luxury goods
- Roche – Pharmaceuticals
- Swatch – Watch manufacturing
- Swisscom – Telecomunications
- SwissRe – Insurance
- Syngenta – Agriculture
- ZurichInsurance – Insurance
The companies from this list have proven popular among traders who see them as gauges of their respective industries, due to their respective size – almost all in the list are among the leaders in their areas. Although they do have their own specifics, they can also be seen as plays on the Swiss economy, which together with the local currency is seen as a safe investment by many.
Let us know if there are any other countries that you’d like us to add, or even particular stocks from markets already in the platform.