Swiss Financial Market Services
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| Swiss Financial Market Services | |
| Founded | 2008 |
|---|---|
| Headquarters | Zurich |
| Key People | Urs Rüegsegger, CEO; Peter Gomez, chairman |
| Products | Securities trading, clearing, settlement and custody; financial information and payment systems |
| Web site | http://www.sfms.com/index.html |
Swiss Financial Market Services AG is the user-owned holding company for the SWX Group, operator of the SWX Swiss Exchange, the SIS Group clearing business and Telekurs Group, a payment systems provider. SFMS was created on Jan. 1, 2008 and, through SWX, holds 50 percent of the voting rights and 15 percent of the share capital in Eurex, the derivatives platform.
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Background
The reorganization of Switzerland's financial services sector was announced in May 2007, approved by shareholders in September and given the go-ahead by regulators in October 2007. It and brings clearing under the control of the exchange operators, though an open multi-provider architecture system has been retained to foster competition.
Domestic banks are the largest shareholders - listed banks holding 31.1 percent and private banks 10.5 percent - while overseas banks own 31.1 percent, and the balance is held by regional and specialist banks[1].
References
- ↑ Presentation. SFME. Retrieved on February 13, 2008.
