Swiss Financial Market Supervisory Authority (FINMA) recognized SIX x-clear Ltd as a CCP according to the FMIA

On 28 March 2018, the Swiss Financial Market Supervisory Authority (FINMA) recognized SIX x-clear Ltd as central counterparty (CCP) according to the Financial Market Infrastructure Act (FMIA). This step ensures the regulatory compliance of the Swiss financial market infrastructure that SIX provides. The FMIA mandates strict rules in order to grant such a license in this highly regulated market.

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SIX x-clear Ltd approved as a Financial Market Infrastructure (FMI) provider effective 28 March 2018

The banking license previously in force is no longer necessary and has been returned with immediate effect. Nevertheless, SIX x-clear remains subject to supervision by FINMA and the Swiss National Bank (SNB) for services of systemic importance.

Michael Ripken, Head Post-Trading, Member of the Management Committee, Securities & Exchanges: “Apart from segregation which directly affects SIX x-clear’s clients (Art. 54 FMIA), the FMIA does not change anything with regard to our service offering. Regarding segregation in particular, we have made all the necessary changes to enable our clients to fulfill their obligations under the FMIA.”

 

Any questions?

Please do not hesitate to contact Jürg Schneider.

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About SIX
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 4,044 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 185.0 million in 2022.
www.six-group.com

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