Regulation

SWX Europe Limited (SWX Europe) is a Recognised Investment Exchange (RIE) for the purposes of the Financial Services and Markets Act 2000 in the UK.

As an RIE, SWX Europe is supervised by the Financial Services Authority (FSA).

Under the Markets in Financial Instruments Directive (MiFID), SWX Europe is a Regulated Market and an MTF:

MiFID venue type	SWX Europe market segment/securities
Regulated Market	EU Regulated Market Segment for Swiss securities
Regulated Market	ETFs
MTF	UK Exchange Regulated Market Segment for Swiss securities
MTF	Pan-European securities not listed by SWX Swiss Exchange

Other key components of the regulatory framework are:

• The procedure for listing of Swiss blue chip securities (constituents of the Swiss Market Index (SMI®) and SLI Swiss Leader Index® (SLI®)), is under the authority of the SWX Swiss Exchange (SWX). When Swiss blue-chip securities have been listed by the SWX, they are admitted to trading by SWX Europe.
• The disclosure of Swiss client data to UK supervisory authorities will only be made if granted under proper regulatory co-operation procedures or the procedures of international administrative or judicial assistance.
• All transactions carried out under SWX Europe rules must be trade reported to SWX Europe. SWX Europe publishes trade volumes and prices immediately upon receipt of the trade report unless the deferred publication regime applies.
• SWX Europe's regulatory and market operations are based in London.