EU Grants Temporary Equivalence for Swiss Exchanges for Purpose of Share Trading Obligation

The EU has granted temporary equivalence to two Swiss stock exchanges (SIX Swiss Exchange AG and BX Swiss AG) under the Markets in Financial Instruments Regulation. MiFIR requires EU investment firms to ensure that the trades they undertake in shares admitted to trading on a regulated market or traded on a trading venue take place on a regulated market, multilateral trading facility, systematic internaliser or equivalent third-country trading venue. EU investment firms will be able to comply with the MiFIR share trading obligation by trading shares on these Swiss exchanges from January 1, 2019 to June 30, 2019. The extension of the equivalence appears to be dependent on the progress of trade discussions between the EU and Switzerland.

View the EU equivalence decision for Swiss exchanges.

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