Swiss stocks given all clear to resume trading in London
Shares in Swiss companies will once again be traded on UK exchanges after Switzerland’s financial regulator gave the move the all-clear this morning.
Since June 2019, a spat between the EU and Switzerland has meant that the bloc’s exchanges have been banned from Swiss shares.
But with the UK no longer a member of the EU, Swiss Financial Market Supervisory Authority (FINMA) has again approved UK trading venues.
Prior to the ban, London exchanges handled more than a quarter of Swiss shares every day – some €1.2bn, according to the CBOE.
The move is a rare chink of light for the City, which has seen billions of euros worth of daily trading return to the EU due to Brexit.
Thomas Wellauer, chairman of Swiss stock exchange SIX, welcomed the news.
“We’ve always supported open and international capital markets and it’s in the interests of national and international investors.
“The mutual recognition of equivalence will permit a healthy exchange and competition between the major financial centers in Switzerland and the UK.”