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Sponsored Foreign Shares

In November 2014 SIX Swiss Exchange reintroduced the trading segment "Sponsored Foreign Shares", in which shares from recognized foreign exchanges are admitted to trading.

The Sponsored Foreign Shares trading segment enables all participants to trade shares of foreign issuers in the order book via the SWXess platform of SIX Swiss Exchange and report off order book trades in foreign shares to SIX Swiss Exchange. Our website provides an overview of all Sponsored Foreign Shares admitted to trading.

Sponsors

Sponsors are trading participants of SIX Swiss Exchange. They undertake to comply with the reporting and maintenance requirements set out in the Rules and to guarantee market making activities. If you wish to become a Sponsor or learn more about the segment please contact us.

Admission to trading

Sponsors can apply to SIX Exchange Regulation for the admission to trading of equity securities of foreign issuers with a primary listing on an exchange recognized by the Regulatory Board. The Rules for the Admission of Equity Securities to Trading in the SIX Swiss Exchange-Sponsored Segment can be found online.

Trading

The securities in the "Sponsored Foreign Shares" trading segment are traded on the On Book Matcher (OBM) Partition 2 - "Non-Equities". The trading hours are continuous from 9.00 am to 5.30 pm CET (with a closing auction from 5.20 pm to 5.30 pm CET). Trading currency in the Sponsored Segment is Swiss franc (CHF). All details are available in the Trading Guides.

Clearing and settlement

Trades in Sponsored Foreign Shares on SIX Swiss Exchange are settled automatically and are not cleared via a central counterparty (CCP). The clearing cycle for Sponsored Foreign Shares is two working days (T+2).

Regulation

In connection with the introduction of "Sponsored Foreign Shares", two directives have been amended:
Directive 3: Trading[pdf] (Annex E - Sponsored Foreign Shares) and Guideline: List of Trading Charges
(Annex D - Sponsored Foreign Shares).