SWX Swiss Exchange expands Pfandbriefe settlement options

The move follows the recent announcement by the Frankfurt Stock Exchange to allow securities transactions to be settled through registered Wertpapiersammelbank, lifting the exclusive status previously enjoyed by depository Clearstream.

Heinrich Henckel, CEO of SWX Swiss Exchange, says the latest development moves Europe one step further to becoming a fully integrated, interoperable marketplace.

He states: "By extending freedom of choice with respect to settlement location to our participants, we are convinced that this new arrangement is an important achievement which reduces settlement complexities and increases the degree of straight-through processing of Pfandbriefe transactions."