The Gateway to Euro Payments
With euroSIC, Switzerland as a non-EU member state has an interface to European financial centers. euroSIC provides an efficient and secure link to the TARGET2 RTGS system of eurozone member countries, as well as to the German and pan-European EMZ and STEP2 bulk payment systems. Thus euroSIC participants have a rapid, cost-efficient and real-time connection to all financial institutions in the EU and EEA. Conversely, euroSIC enables EU and EEA banks to conduct euro transactions with euroSIC participants.
How You Will Benefit
Euro payments from anywhere in the eurozone to anywhere in Switzerland and Liechtenstein and vice-versa
No Need for Correspondent Banks
Transactions with Switzerland and Liechtenstein via TARGET2 or STEP2
Security, the Swiss Way
Swiss data centers – protected against eavesdropping – and security solutions developed entirely in Switzerland create confidence and trust
Real-Time, Risk-Free Liquidity Management
euroSIC offers online liquidity management and automatically checks whether a payment order is sufficiently coveredby funds. All participants maintain a settlement account that the euro payment system balances daily using a sight deposit account at the Swiss Euro Clearing Bank (SECB).
euroSIC only executes a transaction irrevocably and finally once this check has confirmed that the necessary funds are available. Otherwise, the transaction is routed to a wait file and kept pending until sufficient funds have become available through a liquidity supply. The payment beneficiary can then immediately access the credited amount without exposure to credit and liquidity risks.
Subsidiary of SIX
The system manager Swiss Euro Clearing Bank (SECB) supervises and monitors the euroSIC system. It processes all of the system participants’ euro payments smoothly and efficiently.Swiss Euro Clearing Bank
Resources and Support
euroSIC participants can submit transactions online around the clock on bank business days. Tthe euro payment system checks whether the required coverage is provided, settles and forwards the amount after positive verification around the clock.
Transactions initiated at weekends receive the settlement date of the following Monday.
Unlike the normal calendar day, the euroSIC clearing day lasts from about 18:25 CET of the previous evening until 18:15 CET on the current day, and at weekends from Friday 18:25 to Monday 18:15 CET. These are exceptionally long opening times in comparison with other euro payment systems. Any rare deviations are listed in the annually published provisions governing processing and value date alongside the official banking holidays.
The SIX Operations Center monitors operations, providing participating banks with information and support from 07:00 to 19:00 CET.
Turnover per Month
Turnover in the last 12 months (in billion EUR).
Transactions per Month
Number of transactions in the last 12 months (in thousand)
Turnover per Year
Turnover since 1999 (in billion EUR).
Transactions per Year
Number of transactions since 1999 (in million).