SIX Swiss Exchange and Shanghai Stock Exchange step up their collaboration
SIX Swiss Exchange and Shanghai Stock Exchange have agreed in a memorandum of understanding to step up their collaboration. A delegation from China is visiting the Swiss stock exchange today, where the two parties will sign the document in ceremonial fashion. The intention is to enable the financial markets of both countries to benefit from regular, institutionalized exchange of information and joint projects.
Through their memorandum of understanding, SIX Swiss Exchange and Shanghai Stock Exchange are underpinning the free trade agreement concluded between Switzerland and China in 2013 and the 2014 currency agreement between the Swiss National Bank (SNB) and the People’s Bank of China. China is already one of Switzerland’s main economic partners as well as being a key partner for the Swiss stock exchange.
SIX Swiss Exchange has offered trading in renminbi since 2012. Some issuers of bonds traded in Switzerland are from China, and their securities are issued in renminbi. Further internationalization of the Swiss securities market is a declared aim of SIX, with a view to remaining attractive to investors around the world and increasing trading volumes on the platform. SIX supports the efforts of the Swiss National Bank to make the Zurich financial center a Swiss renminbi hub.
The memorandum of understanding between SIX Swiss Exchange and Shanghai Stock Exchange envisages regular, institutionalized exchange of information, in order to improve understanding of each other’s market, promote business relations and strengthen regulatory standards. The aim is to develop service offerings to the benefit of investors in both financial centers and to create attractive conditions for mutual admission of financial products.
“In signing this memorandum of understanding today, we are laying the foundations for forwardlooking collaboration between Shanghai Stock Exchange and SIX Swiss Exchange,” declares Urs Rüegsegger, Group CEO SIX. “In this way, both sides will in future be able to offer even more attractive and more international marketplaces.”
Source: SIX Swiss – SIX Swiss Exchange and Shanghai Stock Exchange step up their collaboration
