Regulation

SIX Corporate Bonds AG is a joint-stock company under Swiss law that operates an exchange-like organisation authorised and supervised by the Swiss Financial Market Supervisory Authority FINMA and SIX Exchange Regulation. SIX Corporate Bonds AG is wholly owned by SIX Swiss Exchange AG.

Rules

The SIX Corporate Bonds Rule Book governs the rights and obligations of SIX Corporate Bonds and its participants and traders. It is based on the principles of the Swiss Federal Act on Stock Exchanges and Securities Trading (SESTA) and includes rules on the following:

  • Admission of securities dealers as Exchange participants
  • Organisation of trading
  • Settlement of trades on SIX Corporate Bonds
  • Monitoring and enforcement of the Rule Book as well as the sanctions SIX Corporate Bonds may impose on participants and traders 

Rule Book

Entry into force date:

Rule Book

The Rule Book aims to ensure equal treatment of investors and participants, as well as the transparency and proper functioning of securities trading on SIX Corporate Bonds.

Directives

Entry into force date:

Directive 1: Admission of Participants

This Directive contains provisions for trading on SIX Corporate Bonds and is based on Part II (Trading) of the Rule Book.

Entry into force date:

Directive 2: Technical Connectivity

This Directive contains provisions on the technical connectivity to the SIX Corporate Bonds system and is based on Clauses 4.4 and 5.5 of the Rule Book.

Entry into force date:

Directive 3: Trading

This Directive contains provisions for trading on SIX Corporate Bonds and is based on Part II (Trading) of the Rule Book.

Entry into force date:

Directive 4: Market Control

This Directive contains provisions for market control and is based on Clauses 9.5 and 11 of the Rule Book.

Entry into force date:

Directive 5: Market Information

This Directive contains provisions on the use and further transmission of market information which is sent to the participant via the SIX Corporate Bonds system and is based on Clause 12 of the Rule Book.

Entry into force date:

Directive 6: Fees and Costs

According to Clause 5.6 of the Rule Book, the participant must pay all charges and costs.

Admission

Entry into force date:

Rules for the Admission to Trading of International Bonds on SIX Corporate Bonds AG

These Rules govern the admission of international bonds to trading on SIX Corporate Bonds AG ("SIX Corporate Bonds"), as well as market transparency safeguards in connection with the trading services offered by SIX Corporate Bonds.