Kapitalmärkte

Access to European capital

The Swiss capital market gives companies access to international investors, a strong currency and one of the most respected financial centres in the world. Listing, prospectus and disclosure rules are demanding but predictable, and they are applied by experienced exchanges and review bodies with a long record of consistent practice.

For issuers from Asia, the Middle East and Africa, Switzerland can serve as a gateway to European investors outside the European Union, while the Swiss franc and the country's political stability add to the appeal of a Swiss listing. The regulatory framework combines federal financial market legislation with the self-regulation of the exchanges, which issue their own listing rules.

Key questions before a listing

An issuer should first determine which exchange and which regulatory standard suit its size, its investor base and its long-term plans. It must then assess whether its financial statements follow an accounting standard that the exchange accepts, whether its governance is ready for public scrutiny and how much time the preparation of a prospectus will realistically require.

A listing brings continuing obligations. Listed companies must publish price-sensitive facts promptly under the ad hoc publicity rules, report on their financial results at regular intervals and observe the rules on the disclosure of shareholdings, insider dealing and market manipulation. These duties require internal processes that function reliably from the first day of trading onwards.

In this section

The articles explain listing on SIX Swiss Exchange and BX Swiss, the prospectus under the Financial Services Act, capital raising beyond a public offering, tokenised securities under the DLT Act, and the history of the Geneva stock exchange of 1857.