Participants

Thanks to a stable and liberal economic environment, Switzerland enjoys a high level of acceptance as a key financial hub and the Swiss financial marketplace occupies a leading position in a global context. This strong position is based on international asset management.

About 40 % of global cross-border asset management for private customers is carried out in Switzerland. It is therefore not surprising that there are about 400 banks and 170 foreign financial institutions located in Switzerland.

There are about 100 participants trading on the SWX Platform. Most of them are based in Switzerland. Others are based in the United Kingdom, Germany and other European countries.
The SWX has flexible and cost-effective connectivity models for maintaining its participant base.

There are two ways to participate in the SWX:

• Participation
  All Swiss and foreign banks that engage in professional securities trading may apply for ordinary participation. A participant must be able to furnish proof that it has a published capital (own funds) of at least CHF 10 million within the meaning of the ordinance relating to the Federal Banking Act, and it must comply with the provisions of the Swiss Banking Act and its ordinance pertaining to capital, liquidity, risk diversification and loans to governing bodies.
• Associated participation
  The purpose of associated participation is to make it easier for securities dealers who do not participate in securities trading on the SWX to fulfil their legal reporting requirements by providing them with the RSD reporting software, which was developed by the SWX. The software facilitates the smooth exchange of data via the Internet and is distributed to all associated participants free of charge.
• Clearing Only Participant (COP)
  Admission as COP at SWX only entitles the participant to retrieve information which it requires for fulfilling its function as general clearing member for other trading participants of SWX that are themselves not a clearing member of either central counterparty (CCP) recognised by SWX. Access to the SWX Platform for the purpose above is optional.