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SIX Swiss Exchange

Name SIX Swiss Exchange
Country Switzerland
Number of listed companies 248
Domestic market capitalization 2327707.01 million US$
SSE Partner Exchange Yes
Has annual sustainability report Yes

ESG reporting required as a listing rule Yes

The Swiss Authority has recently approved a new law on non-financial reporting (legal basis: 964a-c) that entered into force Jan-2022. It applies to the vast majority of SIX’s listed companies requiring double materiality and covers information of business’ impact environment matters and social issues and also information of  employee-related issues, respect for human rights, and combating corruption. The new legal framework is based on EU Directive 2014/95/EU “Non-Financial Reporting Directive (NFRD), the ordinance on climate reporting can be found here and additional information is available here and here

Until this new law, SIX’s listed companies could choose voluntarily opt-in sustainability reporting through Art. 9 DCG in conjunction with Art. 9 Point 2.03 DRRO where issuers have the opportunity, to inform SIX Exchange Regulation that they issued a sustainability report in accordance with an internationally recognised standard recognized by SIX. Issuers who opt into the SIX regime are then obliged to adopt the sustainability report in accordance with the chosen internationally recognised standard and to publish it on their website within eight months of the balance sheet date for the annual financial statements for a period of five years. In addition, companies remain free to issue and publish a sustainability report in line with an internationally recognised standard without reporting this to SIX Exchange Regulation. It is also permissible to include certain sustainability topics in their annual report.

Has written guidance on ESG reporting No

Offers ESG related training Yes

    Supporting and/or sponsoring ESG related training from third party providers for our equity issuers.

Market covered by sustainability-related index Yes

Has sustainability bond listing segment Yes

Has SME listing platform Yes

Women on boards mandatory minimum rule Yes

  • There is a 30% mandatory minimum rule for women on boards.
    Source: Swiss Law

Additional information
  • SIX Group participates in the annual survey produced by WFE, WFE 2021 Sustainability Survey
  • SIX Group is a member of Swiss Sustainable Finance which aims to inform on best practice and creating supportive frameworks and tools to support its members
  • As a member of the Zurich Energy Model, SIX Group committed to improving its energy efficiency by around 11% in the target agreement period from 2013 to 2020. In fact, SIX managed to increase its energy efficiency by twice as much: According to Zurich Energy Model calculations, the increase in this eight-year period was around 22%. In absolute terms, SIX saved approximately 25,000 MWh of energy.
  • SIX Group is also a member of the Advance network for “Gender Equality in Business,” which offers mentoring and further education opportunities specifically for women.

Organizational model of stock exchange
Private company for profit; demutualized in 2002

Regulatory bodies

Regulatory model
Limited Exchange Self-Regulatory Organization (SRO) Model.

  • The SIX Swiss Exchange has the authority to issue, monitor and enforce regulations as per Swiss law. The exchange has created rules and regulations that apply to listing requirements, company disclosure, company obligations, and market Surveillance and enforcement. However, it should be noted that the Swiss Financial Market Supervisory Authority (FINMA) has to ultimately approve proposed rules and regulations changes by the exchange, giving it ultimate regulatory authority.

About the stock exchange
Location: Zurich, Switzerland.

  • SIX operates a competitive infrastructure for the Swiss financial center, catering to a broad, international client base. Its four business areas provide a comprehensive range of services in the areas of securities transactions, financial information processing and cashless payment transactions.

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field

Criteria Considered

Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.