The Swiss Stock Exchange, known as SIX Swiss Exchange, stands as one of Europe's most prominent stock exchanges, serving as a pivotal hub for trading various financial assets, including shares, bonds, derivatives, and other crucial financial instruments.
We are a reputable entity registered on the SIX Swiss Exchange as a Recognised Representation for the purpose of submitting listing applications of.
- Shares (incl. participation and profit-sharing certificates)
- Bonds
- Collective Investment Schemes
- Derivatives
- Exchange-Traded Products (ETPs)
But what exactly is the Recognised Representation, and what services can we provide in this role?
What is the Recognised Representation?
The concept of a Recognised Representation holds special significance within the SIX Swiss Exchange and is regulated by SIX Exchange Regulation. Essentially, a Recognised Representation serves as the intermediary connecting issuers of financial instruments with the regulatory bodies of the Swiss Stock Exchange. The SIX Swiss Exchange has reserved certain critical responsibilities for Recognised Representations, aimed at ensuring the integrity and stability of the financial market. For instance, the application for listing securities must be submitted through a Recognised Representation.
Who is registered as a Recognised Representation by the Exchange?
To be registered as a Recognised Representation by the SIX Swiss Exchange And SIX Exchange Regulation, applicants must demonstrate their expertise and competencies in supervising transactions on the Swiss Stock Exchange. Being well-versed in the regulations is a prerequisite, but it also requires training and experience in connection with securities listing. Typically, entities such as banks, law firms, auditing companies, and consulting firms are granted recognition as Recognised Representations.
What are the tasks of the Recognised Representation?
a. Issue and admission of securities
Recognised Representation plays a pivotal role in assisting companies in preparing the issuance and admission of securities on the Swiss Stock Exchange. This includes conducting a thorough analysis of the company's structure and governance, often referred to as IPO legal readiness. Additionally, Recognised Representations review all necessary IPO documents, such as prospectuses, legal opinions, subscription agreements, capital increase documents, rules of procedure, marketing materials, and press releases.
b. Compliance with regulatory requirements
Recognised Representations are instrumental in supporting listed companies to ensure they adhere to and comply with regulatory requirements. They provide guidance and training to key stakeholders, including members of the board of directors and the executive board. These Recognised Representations are well-versed in the legal framework and market practices, addressing matters like regular reporting obligations, ad hoc publicity, disclosure of management transactions and shareholdings, and corporate governance. In cases of regulatory breaches, it is recommended to involve the Recognised Representations as early as possible.
As a Recognised Representation along with its competent specialists Alexander Lindemann, Ariel Sergio Davidoff, and Michael Betschart, offers comprehensive advisory services encompassing all facets of transactions on the SIX Swiss Exchange and ensuring compliance with disclosure requirements under stock exchange rules and regulations. Contact our specialists, we look forward to hearing from you.
Originally Published 29 September 2023
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
