Swiss FDF ponders activating measure to protect Swiss stock exchange infrastructure

Maria Nikolova

In case the stock market equivalence granted by the European Commission is not extended, the FDF will activate the protective measure.

Switzerland’s Federal Department of Finance (FDF) is getting ready to activate a measure to protect Swiss stock exchange infrastructure.

The stock market equivalence, which was granted by the European Commission to Switzerland for a limited period of time, is set to expire at the end of June 2019. In order to create clarity for market participants, today the Federal Department of Finance is notifying that it will activate the measure to protect the Swiss stock exchange infrastructure in the event of non-extension.

The Federal Council adopted a measure to protect the Swiss stock exchange infrastructure on November 30, 2018. The corresponding ordinance provides for a recognition obligation for foreign trading venues that admit Swiss companies’ shares to trading.

In case the stock market equivalence is not extended, the FDF will activate this protective measure in accordance with the ordinance. Specifically, the FDF would adapt the list of jurisdictions referred to in Article 3 paragraph 3 of the corresponding ordinance with effect from July 1, 2019 and include the EU in the list.

Consequently, trading venues in the EU would lose recognition under Article 1 paragraph 3 of the ordinance. Trading venues in the EU would thus be prohibited from offering or facilitating trading in certain shares of Swiss companies from that date.

The FDF explains that activating the protective measure with regard to trading venues in the EU serves solely to protect the functioning of the Swiss stock exchange infrastructure.

Read this next

Digital Assets

DappRadar report: NFTs volume below $1 billion for the first time since June 2021

DappRadar’s July 2022 industry report found that blockchain games and their NFTs remain resilient amid a crypto winter accentuated by the debacle of Terra.

Digital Assets registers to operate crypto business in Italy had registered as a digital asset provider in Italy, following in the tracks of rivals who joined a special registry with brokerage regulator Organismo degli Agenti e dei Mediatori (OAM).

Digital Assets

Binance rolls out crypto card in Argentina with 8% cashback

Binance is launching its crypto debit card in Argentina, the first country in Latin America to have the product thanks to a partnership with Mastercard.

Digital Assets

Greece sends BTC-e operator Alexander Vinnik to US

Alexander Vinnik, an alleged Russian hacker accused of laundering $4 billion of criminal proceeds through BTC-e, has been extradited from Greece to the United States.

Retail FX

Saxo Bank reports weakest FX volume in 6 months

As many traders were away on annual summer leave, currency markets saw a relatively quiet period in July. Within that context, Copenhagen-based Saxo Bank has reported its monthly metrics, which showed a renewed decline month-over-month.

Market News

The Week Ahead: 5 August from David Madden, Market Analyst at Equiti Group

It has been an interesting week and despite a lot of negative news, equity markets enjoyed a positive run. US House Speaker, Nancy Pelosi, defied the warnings from the Chinese government and carried out a visit to Taiwan. The Beijing authorities moved military hardware close to the self-governed island to flex its muscles. Stock markets came under a little pressure as a result and risk-off assets like the Japanese yen and gold found themselves in high demand.


Alina Strogonova of Muvon Payments: How Can Fintech Optimise Payments

Financial services in their conventional form are obsolete, according to fintech startups. New-age finance is constantly redesigning electronic money transactions and testing innovative solutions.

Digital Assets

No need for CFDs: BitMEX introduces leveraged FX perpetual swaps

Previously retail FX trading was mostly possible via CFDs (contract for difference). BitMEX’s FX perps allow both retail users and institutional traders to access FX markets through an exchange-traded contract.

Digital Assets

BEQUANT launches index measuring dollar against crypto

“Our research team has worked hard to quantify and capture the latest economic story into the broader crypto market.”