SIC System

SIC System

SIC Is Fully Aligned with the Swiss National Bank

Real-Time, Efficient and Secure

Since 1987, SIX has been processing payments in a highly efficient manner via the Swiss Interbank Clearing (SIC) system – in real-time and around the clock. Monitored and steered by the Swiss National Bank (SNB), SIC is the most important payment system in Switzerland, facilitating transactions between banks worldwide. Efficient, secure and quick for both large-value and retail payments, financial institutions process the majority of their interbank liabilities in Swiss francs via SIC on a global scale.

How You Will Benefit

SIC Processes Payments in Real-Time and Offers Liquidity Management

SIC continually processes payments in real-time, allowing participants to submit and receive transactions 24 hours a day. The system verifies the incoming payment orders using electronic signatures and master data checks to monitor whether the system participant is authenticated and authorized to enter data. Where sufficient funds are available, SIC settles the payment irrevocably and finally and debits or credits the participant's settlement account with the corresponding amount. System participants can constantly monitor incoming and outgoing payments in real-time and, by doing so, at any time obtain information about the current status of their settlement account.

RTGS: The Standard for Interbank Payments

The first real-time gross settlement (RTGS) system revolutionized interbank payments around the world in the 1980s and continues to set new standards today.

From securities trading, salary payments and bank credit transfers to credit card payments, every transaction made in Swiss franc passes through the SIC system monitored by the Swiss National Bank.

Learn more about SIX infrastructure solutions for the Swiss financial center and our range of interbank payments services. 

About the Service

SIX has been operating the SIC payment system since 1987. As such, it is one of the world’s leading real-time gross settlement (RTGS) systems. SIC offers system participants around-the-clock interbank payment services with real-time transaction settlement and liquidity management. Various pricing options are available. 

Essential for Monetary Policy and the Swiss Financial Center

The SIC system plays a key role in implementing the Swiss National Bank’s monetary policy. As a result, SIC is crucial to the Swiss financial center and full electronic integration of trading, clearing and settlement of shares, bonds, derivatives, structured products and repo transactions in Switzerland (Swiss Value Chain).

100% Covered Transactions Only

For each transaction, SIC verifies the relevant account to determine if the funds are sufficient to settle the payment. This way, transactions are only executed if the necessary funds are available. Otherwise the payment is routed to a wait file and kept pending until sufficient funds have become available through incoming payments or a liquidity supply.

Technical Security

An interbank security system enables to execute millions of transactions worth billions of Swiss francs absolutely confidentially and securely. It ensures especially the following:

  • Messages must be transmitted unadulterated
  • The message sender must be evident
  • Sending and receiving of messages cannot be disputed
  • Messages must be protected from unauthorized eavesdropping during transmission

Downloads and Services

Turnover per Month

Turnover in the last 12 months (in bn CHF)

Transactions per Month

Number of transactions in the last 12 months (in million)

In detail

Turnover per Year

Turnover since 2000 (in bn CHF)

Transactions per Year

Number of transactions since 2000 (in million)

Any Questions? We Are Happy to Help!