Swiss Financial Market Supervisory Authority (FINMA) recognized SIX x-clear Ltd as a CCP according to the FMIA

On 28 March 2018, the Swiss Financial Market Supervisory Authority (FINMA) recognized SIX x-clear Ltd as central counterparty (CCP) according to the Financial Market Infrastructure Act (FMIA). This step ensures the regulatory compliance of the Swiss financial market infrastructure that SIX provides. The FMIA mandates strict rules in order to grant such a license in this highly regulated market.

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SIX x-clear Ltd approved as a Financial Market Infrastructure (FMI) provider effective 28 March 2018

The banking license previously in force is no longer necessary and has been returned with immediate effect. Nevertheless, SIX x-clear remains subject to supervision by FINMA and the Swiss National Bank (SNB) for services of systemic importance.

Michael Ripken, Head Post-Trading, Member of the Management Committee, Securities & Exchanges: “Apart from segregation which directly affects SIX x-clear’s clients (Art. 54 FMIA), the FMIA does not change anything with regard to our service offering. Regarding segregation in particular, we have made all the necessary changes to enable our clients to fulfill their obligations under the FMIA.”

 

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About SIX
SIX serves the Swiss and Spanish financial centers and a broad international client base, offering stable and efficient infrastructure services. SIX operates stock exchanges and provides services in securities, financial information as well as the payments business. The company is owned by its users (about 120 financial institutions). With over 4,400 employees and a presence in 19 countries, SIX generated operating income of CHF 1.6 billion and EBITDA of CHF 443.7 million in 2024.
www.six-group.com

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