SIS x-clear AG

As a clearing house and Central Counterparty, SIS x-clear occupies an intermediary position between the trading parties.

As a Central Counterparty, SIS x-clear

• ensures full post-trade anonymity;
• eliminates bilateral counterparty risks;
• performs settlement netting to reduce settlement volumes and costs.

Clearing is effected after a trade has been concluded (matching) and before it is fulfilled. The purpose of clearing is the efficient handling of risks inherent in concluded but still unfulfilled (trading) contracts. The Central Counterparty steps into the contracts as intermediary and represents the buyer to each seller and the seller to each buyer.

Only securities that are traded on SWX Europe, SWX Swiss Exchange or the London Stock Exchange and whose clearing eligibility has been confirmed by SIS x-clear to its members are accepted for clearing.