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.”