Code for Suppliers
As of 1 September 2017 SIX introduces a mandatory code for all suppliers and their sub-suppliers. The code applies worldwide.
The Code for Suppliers encompasses the following:
- Business ethics and compliance (e.g. corruption, handling of trade secrets)
- Employment standards and environmental protection (e.g. human rights, discrimination)
«The Code for Suppliers is an integral part of our supplier relationships. Our goal is to act responsibly along the entire value chain. This means, for example, that suppliers of SIX must ensure that the Code for Suppliers is integrated, applied and communicated within their organizations, » says Oliver Engelbrecht, Head Procurement a.i.
SIX is pursuing three objectives with the new supplier guidelines:
- Minimize risk
The increasing internationalization of the supplier network is placing new demands on SIX. Not all countries enforce the same high standards as Switzerland, for example. Uniform and binding requirements for all suppliers minimize reputational and business risks caused by misconduct on the part of suppliers.
- Safeguard business opportunities
SIX is often a supplier itself. A growing customer base is calling for evidence of a Code for Suppliers in national and international tenders in order to minimize risks on their side. A Code for Suppliers safeguards business opportunities in a national and international context.
- Supplement existing measures
SIX has for many years enforced a code of conduct to make SIX employees worldwide accountable for their actions and sensitize them to potential causes of misconduct. Alongside this internal definition of standards, however, an external perspective and obligation has been lacking. The Code for Suppliers closes these gaps and provides a holistic view.
Beginning 2018 contracts and standard GTCs between SIX and its suppliers will make reference to the Code for Suppliers.
The Code for Suppliers will also be able to be used by suppliers to report misconduct (subject to certain country restrictions). This extension fulfils an internationally widespread standard of corporate governance.