At the same time, the Swiss Financial Market Supervisory Authority FINMA added the UK exchanges to the list of recognized foreign trading venues pursuant to the Federal Council Ordinance of 30 November 2018 (Ordinance). With the completion of this process, trading in Swiss equities on UK exchanges can now resume.
The Ordinance remains in force in the EU.
From January 2019, the Ordinance applied both to UK exchanges and trading venues in the EU as the UK retained the status of an EU member state during the transition period, which came to an end on 31 December 2020.
Thomas Wellauer, Chairman of the Board of Directors of SIX: “SIX welcomes this move. We’ve always supported open and international capital markets and it’s in the interests of national and international investors. The mutual recognition of equivalence will permit a healthy exchange and competition between the major financial centers in Switzerland and the UK.
Some of the largest and most traded companies in Europe are based in Switzerland. These securities are listed and traded on SIX, which is the deepest, most liquid and least expensive market for these shares. SIX offers great liquidity and tight spreads.”