The electro-optical properties and dielectric relaxation have been investigated for an antiferroelectric liquid crystal mixture W-193B. The material exhibits smectic A*, smectic C* and a wide range of anticlinic smectic phases. The high tilt and broad room temperature smectic phase make it a good candidate for antiferroelectric display materials. Dielectric studies have been made in a planarly aligned cell in the frequency range 10 Hz–13 MHz. Dielectric spectroscopy reveals the existence of soft mode in the smectic A* phase and Goldstone mode in the smectic C* phase. In the smectic phase the dielectric spectrum of the material exhibits two absorption peaks related to the rotational fluctuation around the short axis of the molecules and antiphase azimuthal angle fluctuation, respectively, and are separated by about two orders of frequency. Electro-optical response using a low frequency triangular wave showed a very high quasi-static contrast ratio of 132 : 1, threshold voltage of around 7 V and saturation of 17 V. Surface-stabilized, low thickness cells of this mixture showed a perfect double hysteresis loop with a 1 Hz triangular signal, reaching different transmission levels for different voltage amplitudes. These levels can be stabilized with a single holding voltage, making it possible for the material to be passively multiplexed at video rate.