Unless the EU extends equivalence status to Swiss exchanges before the end of the week, shares from firms in one of the two jurisdictions will not be able to be traded in the other one. This could cause disruption and market fragmentation, although the exact impact is unknown.
Without a reprieve, the equivalence status for Swiss exchanges expires at the end of the month. At present, the equivalence status allows the Swiss exchange SIX to host the trading of EU firms’ shares.
If the Commission does let the equivalence status end, the Swiss Federal Council has