Data Disaggregation (Public Market Data)
Swiss law does not deal with this topic. However EU law stipulates that market data distribution systems must support the flexible dissemination of granular data packages. Data packages will be broken down by asset class, by country of issue, by currency and by trading mode.
SIX Swiss Exchange will launch a new datafeed for the dissemination of public market data in 2017. This new data feed will allow consumers to select relevant data packages. Data packages will be structured according to RTS 14 provisions.
Art. 12: Obligation to make pre-trade and post-trade data available separately
RTS 14: Draft Technical Standards on data disaggregation
Q: SIX Swiss Exchange currently disseminates public market data via SMF and MDI feed infrastructures. Will they support data disaggregation features as well?
A: The new SIX MDDX (Multi Dimensional Data fluX) will be the new feed infrastructure supporting data disaggregation as well as additional MiFID II-specific features as of October 2017. SMF and MDI will be decommissioned at a later stage, and as such will not be changed to support disaggregation.