Switzerland: Financial Sector Assessment Program-Technical Note on Financial Market Infrastructure and Fintech Oversight

International Monetary Fund

No 2025/310, IMF Staff Country Reports from International Monetary Fund

Abstract: The financial market infrastructure (FMI) landscape in Switzerland is efficient and reflective of the advanced nature of the country’s financial market. The country hosts three domestic, systemically important FMIs which are owned by a single group (SIX Group): a CCP (SIX x-clear Ltd.), a CSD (SIX SIS Ltd.), and the country’s RTGS Payment System (SIC). Three foreign FMIs providing services to the country’s financial sector are also considered to be of systemic importance by the Swiss authorities: two CCPs (LCH Ltd and Eurex Clearing AG) and a foreign exchange Payment System (CLS). Additionally, a range of both domestic and non-domestic FMIs, including FMIs making use of newer technologies such as DLT, are present on the Swiss market, completing the country’s competitive FMI ecosystem.

Keywords: IMF staff; Project Helvetia; exchange case study; supervision Act; staff team; FMI risk management; Fintech; Blockchain and DLT; Financial market infrastructure; Securities; Global (search for similar items in EconPapers)
Pages: 65
Date: 2025-11-24
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