The Equivalence of the Swiss stock exchange will be extended for six months. The EU-Commissioner Johannes Hahn said Monday in Brussels. So this is valid until the end of June 2019.
With the re temporary extension of the exchange of equivalence of the Switzerland gets to decide how it is with the institutional framework agreement.
at the beginning of December the Federal Council the negotiated had sent the framework agreement in the consultation. Federal councillor Ignazio Cassis said at the time in front of the media, the Federal Council support the package, although in wide Parts, but not in all. The result is not sufficient, therefore, to the agreement initial the to para. For the EU, however, the framework agreement is negotiated. "The Ball is now in Bern," said Hahn. And: There will be no renegotiations. "The door is closed."
SIX: Reaching a permanent Equivalence has the highest priority
For the SIX Swiss exchange the permanent Equivalence of the stock exchange has still the highest priority. This SIX-speaker Julian Chan told the news Agency AWP.
He did not want to speak in Detail to the decision of the EU Commission, to extend the exchange equivalence to a year and a half. Furthermore, the achievement of a lasting recognition of Equivalence was of the highest priority, he said simply.
This was important, because legal security was produced, and transparent and effective, open markets could continue to serve the needs of the investors, said the spokesperson. He recalled that "some of the largest and most actively traded companies in Europe" to be resident in Switzerland and the securities on the SIX, and traded would be listed.
SIX welcome at the same time as the contingent measure of the Federal Council for the protection of the functioning of the Swiss capital market, said the spokesperson. Because this set for the case of the expiry of the Equivalence sure that EU market participants would have more access to the Swiss domestic market and the Swiss stock could trade.
Since 2014, Switzerland and the EU are negotiating an institutional framework agreement. The negotiations became bogged down, however, again and again. The EU Commission had therefore limited last December, the exchange equivalence to one year and its extension to "sufficient progress" in the framework agreement, coupled. The EU Commission has already discussed last week, to extend the Equivalence to the Swiss stock exchange six months. So you want to wait for the decision of Switzerland to the framework agreement.
Mason expected permanent exchange equivalence
The Federal Department of Finance (FDF) takes the decision of the EU to the extension of the exchange of equivalence for Switzerland, "note". The protection measures for the Swiss stock exchange infrastructure will remain in force.
"We take the decision of the EU Commission," said an EVS media spokesman for the Agency Keystone SDA on request. By the Federal Council on 30. November 2018, adopted the regulation, which is intended to protect the Swiss stock exchange infrastructure, remain in force.
you will develop in practice, for the duration of the temporary extension of the exchange equivalence of the EU will have no effect. Switzerland expect, however, in principle, to a perpetual grant of the exchange of equivalence by the EU, mean it is more, "since it meets virtually all the requirements".
Finance Minister Ueli Maurer had stressed last Friday in front of the Federal house of media, an extension of only a year and a half to throw questions and would be difficult to understand. From the point of view of the Federal Council the framework agreement and the exchange shall not be associate of equivalence.
If the EU decisions by the Commission, the Equivalence of the stock exchange regulation for a year and a half to recognize it's not going to affect the stock market.
Created: 17.12.2018, 11:09 PM