There are some significant differences between the main trading segment of SWX and the new SWX Swiss Exchange – Sponsored Segment:
The shares traded in the Sponsored Segment are not SWX-listed but instead are merely granted admission to trading on SWX. Admission is arranged by a securities dealer (sponsor) and does not involve a prospectus or listing notice, however the initiation of trading will be announced three days in advance of the first trading day by means of an SWX Message.
The sponsor must fulfil market-making obligations in the shares it introduces and is also responsible for complying with the trading and surveillance rules as well as for fulfilling the entire range of reporting obligations; the SWX rules governing trading will be applicable in all respects.
One prerequisite for admission to the Sponsored Segment is a primary listing on an exchange that is a member of the Federation of European Securities Exchanges (FESE) or the World Federation of Exchanges (WFE). Companies whose equity securities have a primary or secondary listing on SWX may not be included in the Sponsored Segment.
The Admission Board of the SWX Swiss Exchange can rescind the admission if insufficient trading volume is generated in the securities, the admission requirements are no longer met, or the market-making obligation is breached.
