The European Code of Conduct on Clearing and Settlement calls for a voluntary self-regulation of the European stock exchanges, settlement agencies and central securities depositories. It aims to increase price and service transparency and enhance interoperability between the various platforms.
Key provisions of the Code of Conduct are:
Improving price transparencyPrices and services are to become commensurable. Accordingly, SIX SIS has made all its service prices public. Detailed information on individual price calculations is given here.
Access and interoperabilityThe provisions of the European Code of Conduct aim to facilitate cross-border settlement by guaranteeing free access to settlement agencies and central securities depositories in the fields of clearing and settlement.
Service unbundling and accounting separationService unbundling enables clients to buy exclusively the services they really need. Accounting separation should enhance disclosure of proceeds and costs of the various services and consequently cross-subsidisation, if any, to national regulators.
SIX SIS has signed the European Code of Conduct on Clearing and Settlement and the Access and Interoperability Guideline and advocates their implementation.
| Description | Download | Date |
|---|---|---|
| Code of Conduct | PDF, 172 kb | 17.07.2007 |
| Access and Interoperability Guideline | PDF, 103 kb | 06.12.2007 |
| Service Unbundling & Accounting Separation | PDF, 128 kb | 11.01.2008 |
| Assurance Report Ernst & Young AG 2010 | PDF, 431 kb | 22.06.2010 |
| Assurance Report Ernst & Young AG 2009 | PDF, 436 kb | 04.06.2010 |