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FAQ

  1. Are bond trades subject to Swiss stamp tax?
    The brokerage, purchase and sale of foreign bonds are exempt from stamp tax if the purchaser or seller is a foreign counterparty.
  2. Are trades in Bonds - Non CHF subject to the Exchange turnover fee?
    For information on Bonds - Non CHF fees, please see Directive 7: Fees and Costs[pdf].
  3. Is there a duty to trade Bonds - Non CHF exclusively on-order book?
    No. Participants are not obliged (as they are in the case of cash market securities) to trade Bonds - Non CHF on the Exchange during trading hours.
  4. Are there specified round lots for Bonds - Non CHF?
    No. On SIX Swiss Exchange, the minimum denomination of a given Bond - Non CHF is equal to the issue's smallest tradable unit on SIX Swiss Exchange. For example, if the basic denomination of a Bond is USD 1'000, this is the smallest order size that can be executed on SIX Swiss Exchange. An exception in this regard are bonds with differing initial and minimum denominations. In such securities, the round lot equals the initial denomination of the security.
  5. What are the trading hours for Bonds - Non CHF?
    Trading starts at 9.30 a.m. and ends at 5 p.m.
  6. Which bonds are admitted to trading on SIX Swiss Exchange, and what criteria do they have to meet?
    On SIX Swiss Exchange, Bonds - Non CHF can be traded in several currencies. The criteria for admission to trading are defined in the Additional Rules for the Listing of Bonds. In order for a given Bond - Non CHF to be admitted to trading on SIX Swiss Exchange, it must be listed on a recognised primary exchange (e.g. London or Luxembourg, Communiqués No. 9/2002), clearing and settlement must be effected via a recognised clearing organisation[pdf] (SIS/Clearstream/Euroclear), and it must be reasonably expected that there will be a proper market.
  7. How does the admission procedure work?
    The parties involved (sponsoring members and issuers) should submit a written indication of interest (which must include the ISIN number) for the admission of a Bond - Non CHF to trading on SIX Swiss Exchange by sending a fax or an e-mail to the following address:
  8. SIX Swiss Exchange Ltd
    Product Management Fixed Income
    Pfingstweidstrasse 110
    P.O. Box 1758
    CH-8021 Zurich
    Fax: +41 58 499 2476
    E-mail: Fixed Income

  9. How long does the admission procedure take?
    Indications of interest in admission of a Bond - Non CHF to trading received by SIX Swiss Exchange no later than 2 p.m. can be processed the same day, and trading in the bond in question can start the next day.
  10. Who decides on the admission of bonds?
    SIX Swiss Exchange selects bonds in accordance with the needs of market participants. However, the decision on whether or not to admit a given bond to trading lies with SIX Swiss Exchange alone.
  11. Is additional hardware or software necessary for trading in Bonds - Non CHF?
    No.
  12. What impact do public holidays have on trading on the Bonds platform?
    Please consult our trading and settlement calendar and the relevant PDF files.

Should you require further information on Bonds - Non CHF, please do not hesitate to send us an e-mail.