Credit Suisse Subsidiary Joins SIX Swiss Exchange as New Participant

Following today’s announcement regarding the legal restructuring at Credit Suisse, SIX Swiss Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has welcomed Credit Suisse (Switzerland) as a new participant.

The new Swiss legal entity is a wholly owned subsidiary of Credit Suisse AG and covers its Swiss business. With the admission of Credit Suisse (Switzerland), membership of SIX Swiss Exchange and the role of General Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term Member will pass from Credit Suisse AG to the new Swiss legal entity. Credit Suisse AG will in future act as the Reporting Member.

Restructuring

As reported earlier today, the new bank is part of a broad shake-up of Credit Suisse aimed at focusing more on wealth management and less on volatile investment banking, as well as being part of its efforts to safeguard the country’s economy from another banking crisis.

In addition, the Swiss lender has just moved over 1 million customers into the new subsidiary ahead of its proposed stock market listing which is expected to take place in the second half of 2017.

André Buck, Head of Sales, commented: "We are pleased to support Credit Suisse (Switzerland) AG in the implementation of its objectives and welcome them to trading in our highly liquid segments."

With the inclusion of the new Credit Suisse subsidiary, the number of trading participants on SIX Swiss Exchange totals 105.