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SIX opens Swiss part of China-Switzerland Stock Connect

The China-Switzerland Stock Connect provides the opportunity for cross-listing shares to partner exchanges. The Swiss part of the investment channel created by the SIX and the Shanghai and Shenzhen stock exchanges was launched on July 28th.

Thomas Zeeb, Global Head Exchanges, SIX; Daniela Stoffel, Swiss State Secretary; Wang Shihting, Chinese Ambassador to Switzerland.
From left to right: Thomas Zeeb, Global Head Exchanges, SIX; Daniela Stoffel, Swiss State Secretary; Wang Shihting, Chinese Ambassador to Switzerland. Image credit: SIX

According to a press release from the Swiss stock exchange operator SIX, the Swiss section of the China-Switzerland Stock Connect was launched on July 28th. The cross-border investment channel was created by SIX together with the Shanghai and Shenzhen stock exchanges. It aims to open up opportunities for cross-listing shares to partner exchanges. Specifically, this means that companies from the Swiss and Chinese markets can issue and list global depository receipts (GDRs) on the SIX Swiss Exchange and the Chinese stock exchanges.

CEO of SIX Jos Dijsselhof commented in the press release: “With the introduction of GDRs, we are excited to be able to broaden the options for companies to raise capital in the very international Swiss financial market. We can now offer further investment opportunities to investors looking to get direct exposure to Chinese securities in a familiar and secure regulatory environment.”

The press release goes on to explain that GDR trading will take place at a new trading segment dedicated to GDRs on the SIX Swiss Exchange. The regulatory specifications required for this have already been approved by the Swiss Financial Market Supervisory Authority. GDRs from the first four Chinese companies will already start trading on the day of the launch.

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