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Overview of Admissible Collateral

Securities from the following categories are acceptable for the collateralization of certificates:

  • securities accepted by the Swiss National Bank in conjunction with repo transactions;
  • selected securities accepted by the European Central Bank;
  • shares included in recognized stock indices, whereas the acceptance criteria require that the shares have sufficient market liquidity; and
  • book-entry funds (CHF, EUR, GBP, JPY, USD).

SIX Swiss Exchange selects the admissible forms of collateral from these categories on an ongoing basis in collaboration with Eurex Zurich Ltd. A current list of admissible securities is available on the website of Eurex Repo. Depending on the type of collateral, certain collateralization margins may be applied (so-called "haircuts") as set out in the Framework Agreement[pdf].

Not admissible as collateral are:

  1. securities of companies in which the issuer or the collateral provider directly or indirectly holds at least twenty percent of the share capital or voting rights; or
  2. securities of companies that have a similarly large financial interest or percentage of voting rights in the issuer or collateral provider;
  3. shares of the issuer or collateral provider; and
  4. issues in which the issuer or collateral provider acts as debtor.