With Internet Based Listing (IBL), SWX Swiss Exchange is launching an efficient facility for submitting trading admission applications online. IBL is a web-based application which provides a common process environment for issuers and SWX staff alike. Admission applications can be entered manually in a web browser mask, or fed into the SWX system in a batch upload. The facility allows applications to be edited, copied and submitted online to SWX and also displays an application's current status. The batch upload option can be used to transmit several applications simultaneously from an issuer's in-house database to the SWX system. Physical document exchange between the issuer and SWX will become a thing of the past. All data transfer takes place within a secure encrypted environment.
Issuers must sign a contract with SWX before they can use IBL. Whenever users log on to IBL, they will have to authenticate themselves over the Internet using a valid combination of user name and password.
All that is required to use IBL is a normal IT infrastructure with a web browser, e-mail and Acrobat Reader. User accounts are tied to individual members of staff, who may be given different user authorisations, such as the ability to read, edit and send applications, as well as user administration privileges. The latter enable staff to set up further user accounts for the applicant and to configure or delete existing accounts.
The listing process for derivatives is currently being revised. The aim is to achieve product-independent price segmentation, faster admission to trading and a simplification of documentation and publications relating to standard products. Some of these improvements may be linked to the use of IBL.
IBL strengthens the position of SWX as the European liquidity centre for warrants and structured products.
For more detailed information on Internet Based Listing, please visit www.swx.com/admission/iblinfo/iblhome_en.html.
