News - SIX Swiss Exchange obtains temporary status as an ''equivalent third-country trading venue''
SIX Swiss Exchange obtains temporary status as an ''equivalent third-country trading venue''
On 21 December, the EU Commission decided to recognize the equivalence of the Swiss legal and supervisory framework
for trading venues with that of the EU for a temporary period of one year. The decision allows European securities
traders access to the Swiss market even after the new European financial market rules enter into force in January
As a result, European securities traders will be permitted to trade Swiss equities on the Swiss domestic market in
the coming year as well.
The European Markets in Financial Instruments Directive (MiFID II) and its related regulation MiFIR enter into force
on 3 January 2018. Article 23 MiFIR requires European investment firms to trade shares on a trading venue within the
EU or a third-country trading venue assessed as equivalent. This requirement applies to all shares admitted to trading
in the EU, which affects the majority of Swiss equities traded on the SIX Swiss Exchange.
In recent months, the necessary steps were undertaken to ensure that SIX Swiss Exchange attains the status of an
equivalent third-country trading venue. The necessary recognition by the European Union of the equivalence of the Swiss
legal framework was granted for a temporary period of one year with the EU Commission's decision of 21 December 2017.
SIX acknowledges that the EU Commission thereby recognises in principle the equivalence of the Swiss legal framework.
SIX does, however, regret the temporary nature of the decision and is working on the assumption that equal value will
be definitively recognised at a later date.
If you have any questions, please do not hesitate to contact Stephan Meier, Head Media Relations.