Regulation

SIX gains long-awaited clearing house approval

Clearing house finally authorised by Esma after two-and-a-half-year delay

The delay was caused by the time it took the EU to agree equivalance rules with Swiss authorities
The delay was caused by the time it took the EU to agree equivalance rules with Swiss authorities

The Swiss clearing house SIX x-clear, owned by SIX Securities Services, has finally gained approval to offer clearing services throughout the European Union after a two-and-a-half-year wait.

SIX x-clear had originally applied to the European Securities and Markets Authority for recognition as a non-EU, or third country, clearing house in September 2013.

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