The agreement enables foreign participants of Six Swiss Exchange, known as ‘Remote Members’, to report their off-exchange (OTC) trades in Swiss securities admitted for trading on a Swiss stock exchange via Markit BOAT, from 18 April 2011.
This service provides flexibility for Six Swiss Exchange’s Remote Members to fulfill their reporting obligations in Swiss securities either via the Exchange or via Markit.
Remote members of Six Swiss Exchange previously had to report their OTC trades in Swiss securities admitted for trading on a Swiss stock exchange to the reporting office of Six Swiss Exchange.
This new development will provide flexibility of reporting venue and enable Six Swiss Exchange’s Remote Members to choose the platform for their trade reporting needs.
Markit BOAT provides a comprehensive view of the European OTC equity markets. The service gives users access to trade reports on an average of EUR375bn of OTC trades in equities every day. This is equivalent to approximately 70% of the daily volumes traded on all European equity markets.
Six Swiss Exchange CEO Christian Katz the service provides greater flexibility and choice to their Remote Members whilst allowing them to fully comply with the Reporting Obligations in Swiss securities.
