The Leading International Listing Location for Bonds
With the Swiss Stock Exchange, you benefit from a debt capital market that is both large and truly international. Almost half of our listed bonds are issued by foreign issuers from around 40 jurisdictions across 5 continents.
Investors have a choice of around 2,000 listed bonds, around 1,500 bonds admitted to trading and a wide range of instruments, including straight bonds, floating-rate notes, convertibles, exchangeables, asset-backed securities and loan participation notes. What’s more, debt instruments can be listed and traded in all major currencies.
How to List a Bond
The Swiss Stock Exchange differentiates between "listing" and "admission to trading" for bonds.
- Listing occurs upon application by the issuer and must be submitted by a recognized representative. It involves certain obligations on the issuer.
- For bonds that are already listed on a recognized foreign exchange, there is the option of admission to trading, without having to go through the full listing process. The consent of the issuer is not required, and there are no obligations on the issuer.
|Listing||Your bond is listed by using the web-based CONNEXOR listing application. This allows your bonds to enter into trading quickly and efficiently – provisional admission to trading can begin just three trading days from receipt of the electronic application. You then have two months to lodge your formal listing application, along with the required declarations and listing prospectus.|
|Admission to trading||Provisional admission to trading on the Swiss Stock Exchange also takes place using the web-based CONNEXOR listing application. In this case, your bond will be provisionally admitted to trading within three trading days of the application being submitted.|
Deal Pool: Efficient. Standardized. Secure.
Deal Pool offers institutional investors and banks information about upcoming Swiss Franc bond offerings in a timely, standardized, convenient and traceable manner. Users can register for free in three simple steps, and will receive the same information at exactly the same time in a standardized format.
Developed in cooperation with the leading syndicate banks in Switzerland, Deal Pool illustrates how SIX fulfils its mandate of developing and operating infrastructure services for the Swiss financial center and Swiss banks to increase efficiency, quality and innovation.
Resources and Downloads
The Swiss Stock Exchange has been a trading venue for Green Bonds since 2014 when the European Investment Bank (EIB) listed the first Green Bond, Raiffeisen followed with the first listed Sustainability Bond in 2019. In total, 39 Green and Sustainability Bonds with a nominal volume equivalent to around CHF 14.7 billion in various currencies such as CHF, EUR, USD, CAD, AUD and NZD are currently traded on the Swiss Stock Exchange. They are aligned with the Green Bond Principles and Sustainability Bond Guidelines by the International Capital Market Association (ICMA), according to which the proceeds are exclusively applied to eligible environmental and/or social projects.
In June 2020, ICMA has published the Sustainability-linked Bond Principles to further develop the key role that debt markets can play to fund companies committed to sustainability. Sustainability-linked Bonds are forward-looking performance-based instruments where the issuer commits to achieve predefined Sustainability/ESG objectives within a given timeline, while the proceeds are intended to be used for general purposes. Novartis was the first issuer to list a Sustainability-linked Bond at the Swiss Stock Exchange.
To help strengthening sustainable investing, to give sustainable bonds higher visibility and to facilitate investors’ search, a special flag has been introduced in the Bond Explorer that allows to filter either for Green, Sustainability or Sustainability-linked Bonds.