SIX the company operating the Swiss stock exchange said it welcomes the decision of the Swiss government to ban Europea Union stock market.
Earlier today, the Swiss government said it will ban from trading Swiss shares.
Bern made the announcement after Switzerland refused to sign a governance agreement with the EU stating that it will not be rushed into committing any agreement.
The Swiss said according to Reuters’ report that it will withdraw recognition from trading venues in the EU from July 1 to “protect the Swiss stock exchange infrastructure in the event of non-extension.”
“Trading venues in the EU would thus be prohibited from offering or facilitating trading in certain shares of Swiss companies from that date,” the Swiss government said in the statement.
SIX said it welcomes the an as ‘as this meant EU market participants could still access the Swiss domestic market and continue to be able to trade Swiss shares directly at SIX.’