Exclusion of Trader

A trader may be excluded for various reasons:

Obligatory suspension

If a trader with provisional registration does not receive a trader's license within one year of provisional registration, the latter is suspended by the SIX Swiss Exchange and the previously provisionally registered trader is not entitled to operate as a trader for as long as the suspension remains in force. The suspension continues to apply if the previously provisionally registered trader ceases trading for one participant and subsequently acts for another. As soon as a person whose provisional registration has been suspended receives a trader's license recognised by the SIX Swiss Exchange, the participant may apply to the SIX Swiss Exchange for permanent registration in accordance with the provisions set out below. Suspension may only be lifted by the granting of permanent registration.

Voluntary suspension

The participant may request voluntary suspension of the provisional registration at the SIX Swiss Exchange. This results in the interruption of the time limit for provisional registration. The lifting of voluntary suspension also takes place through the participant.

Termination

If a permanently registered trader temporarily ceases to engage in active trading and stays with the participant, its permanent registration is terminated. The participant must apply to the SIX Swiss Exchange for termination and the cancellation of such termination.

Departure

If a registered trader changes participants (change of employer) or no longer fulfils the requirements for registration, he or she must resign as a trader at the SIX Swiss Exchange. The participant arranges for the trader's resignation at the SIX Swiss Exchange.

Suspension

The SIX Swiss Exchange may suspend the registration of traders in the event of violations of SIX Swiss Exchange rules and regulations, in cases where a requirement for registration is not fulfilled, or while criminal proceedings are pending.