Bake baguettes in a preheated oven (electric cooker: 200 °C/ convection oven: 175 °C/ gas: see manufacturer) for approx. 10 minutes according to package instructions.
In the meantime, peel and halve the onion and cut into strips. Wash the thyme, shake dry and chop the leaves, except for some for garnishing, from the stems and chop coarsely. Heat butter in a pot.
Add onions and sugar. Caramelise over medium heat until golden brown. Add about 3/4 thyme. Deglaze with wine and simmer covered for about 5 minutes at low heat.
Drain the anchovies and olives. Cut anchovies into fine strips, olives into rings. Stir into the caramel onions. Season to taste with salt and pepper. Grate cheese coarsely. Take baguettes out of the oven and cut into about 20 diagonal slices.
Spread onion mixture on top, sprinkle with cheese.
Place slices of bread on the hot baking tray and bake on the grill step of the oven (240 °C) for approx. 5 minutes. Serve and garnish with remaining thyme.