Swiss Exchange And Paris Bourse To Form Partnership
Date 06/02/1999
The Swiss Exchange and the Paris Bourse announced at a news conference on Thursday January 28 that they had reached a cross-membership agreement set to take effect from the third quarter of this year. The arrangement calls for the coupling of the two electronic trading systems, allowing for members of either exchange to trade in equities and bonds in the other. The two exchanges also plan to harmonise their individual regulatory systems to form one simple exchange ordinance. Additionally, the two exchanges plan to combine guarantee and compensation systems for shares and bonds, operating under the principle of a central counterparty secured by a clearing system.