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SIX and Shanghai Stock Exchange seek closer cooperation

The SIX Swiss Exchange and Shanghai Stock Exchange are seeking to further deepen their collaboration. In so doing, both parties will assess the viability of listing securities on the respective markets, among other aspects.

SIX
SIX and Shanghai Stock Exchange sign an updated Memorandum of Understanding. Image Credit: SIX

The SIX Swiss Exchange and Shanghai Stock Exchange have been working together since 2015. Now, however, both parties are seeking to further deepen their collaboration. To this end, SIX and Shanghai Stock Exchange have renewed their Memorandum of Understanding (MoU) on Tuesday, as announced in a press release issued by SIX. The President of the Swiss Confederation, Ueli Maurer, was also present for this.

The amended MoU envisages a further intensification of the cooperation between the two financial centers in addition to assessing the feasibility of listing securities on respective markets. This would allow companies listed on both stock exchanges reciprocal access to each other’s liquidity pools. Moreover, SIX and the Shanghai Stock Exchange also intend to cooperate more closely on issues such as digitalization.

Switzerland and China have maintained closer relations since the two countries concluded a free trade agreement in 2013 and the currency swap deal signed between the Swiss National Bank (SNB) and the People's Bank of China in 2014. According to SIX, these have now been underpinned by the updated MoU.

Romeo Lacher, Chairman of the Board of Directors of SIX, commented: “I am very pleased that the Shanghai Stock Exchange and SIX will jointly work even closer together in order to further develop and internationalize our respective securities markets and thus strengthen the existing ties between our two countries and offer even more attractive and more international marketplaces.”

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