OTC Spot Market

OTC Spot Market

OTC Spot Market

In the OTC Spot Market, the Swiss National Bank (SNB) holds auctions of Treasury Bills (GMBF), Federal Bond Issues and SNB Bills.


Participants can trade the auctioned securities directly with each other. These are not Repo transactions but conventional transactions of securities.

Trading Hours and Dates
The platform's trading days are defined in the trading calendar of the platform Operator. Trading on the platform shall be open from 07:00 to 18:00 from Monday to Friday (except on Swiss public holidays).


Primary Market
The primary market segment is where auctions are held by the Swiss National Bank (SNB) for the issue of new securities or an issue increase of existing securities.

Secondary Market
In the secondary market or OTC trading market, securities are traded bilaterally outside of auctions.

Further information about the market segments, the auction conditions and the taxation are available in the Product Specifications for the OTC Spot Market document.


Information on fee rates will be provided by the Securities Finance Relationship Manager.