SWX Swiss Block, the non-displayed liquidity pool for Swiss blue-chip stocks being developed by London-based exchange SWX Europe, is to use the clearing services of SIS x-clear, a central counterparty and registered bank. SWX Swiss Block is scheduled for launch in early August.
SIS x-clear is part of the same group company as SWX Europe – Swiss Financial Market Services. It already provides clearing and risk management services to SWX Europe itself and SWX Swiss Exchange.
“Clients executing trades through the new SWX Swiss Block service will be able to clear and settle as they would through our traditional channels, with the benefit of post-trade anonymity and robust risk management naturally provided by our services,” said Marco Strimer, CEO of SIS x-clear, in a statement.