More Efficient Means Of Recording Data - Collaboration Between SWX, SIS And Telekurs In Compilation Of Core Data For Securities

On 19 June 2006, the SWX Swiss Exchange will expand its “Internet Based Listing” (IBL) admission tool for derivatives and bonds to include Telekurs and SIS. As a result, the admission process for issuers will be centrally and hence even more efficiently administered. Issuers will record their core data directly, thereby requiring that it only be compiled once. The data is then immediately available for further processing not only by SWX, but also SIS and Telekurs. For issuers, this means reduced administrative effort, quicker throughput times and lower costs. At the same time, they have continual insight into the status of their applications.

The derivatives and bond segments grew rapidly last year, and SWX anticipates that this trend will continue. Along with that growth, however, the demands placed on the operators of these market segments have also increased. For that reason, SWX introduced Internet Based Listing approximately three years ago, thereby simplifying, accelerating and lowering the cost of the admission process. On the trading side of the equation, the introduction of Quotematch in November 2005 resulted in a significant increase in the efficiency of the derivatives market.

As a further improvement, the SWX Swiss Exchange, SIS SegaInterSettle AG and Telekurs Financial have decided to unify the processing of core data in a phased manner in order to provide issuers, applicants and participants with faster and more efficient services. As of 19 June 2006, the relevant SIS and Telekurs Financial core data will also be integrated into Internet Based Listing. SIS and Telekurs Financial have been incorporated into the IBL work process and will administer the data of relevance to them. As a result, all three members of the Swiss Value Chain can have access to commonly stored core data.

Also starting on 19 June 2006, the issuance of security numbers, symbols, and (CH and LI) ISINs can take place via IBL on an optional basis. In another development, issuers will now have the possibility to use IBL for the compilation of core data pertaining to privately placed bonds and derivatives, i.e. products that are not traded on the Exchange. In this regard, SWX is involved to the extent that it makes available and operates the IBL system, but does not administer the admission and trading of the corresponding products.

With this expansion of Internet Based Listing, SWX will be strengthening its position as a European liquidity centre for warrants and structured products.

More detailed information on Internet Based Listing can be accessed at: https://www.swx.com/admission/listing/ibl/ibl_en.html