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:
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
securities of companies that have a similarly large financial interest or
percentage of voting rights in the issuer or collateral provider;
shares of the issuer or collateral provider; and
issues in which the issuer or collateral provider acts as debtor.
