No major impact after EU ends Swiss stock equivalency
The head of the Swiss stock exchange says the decision by the EU to end equivalency has not had a major impact so far.
The EU was hoping the threat would show Switzerland how reliant it is on access to EU markets, but since the EU banned trading of Swiss shares in July – the Swiss stock market has seen trading volumes increase by 26%.
The market’s CEO Jos Dijsselhof was speaking to the NZZ newspaper.
He also warns it may be too soon to show the impact. The rise in volumes is unsurprising as before 30% of Swiss share trading was in the EU – that’s now moved back to Zurich.
In the longer-term Swiss companies may choose to list in the EU to allow for a wider access to investors.