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Questions and Answers

  1. How many questions have to be answered in the individual exams?
  2. How long do the exams take, and can they be repeated if failed?
  3. Which material is relevant for each exam?
  4. What is the best way to prepare for an exam?
  5. Are any practice questions available to help prepare for the exam?
  6. In which languages can the individual exams be taken?
  7. Where are the individual exams held, and what is the administrative procedure?
  8. How are the individual exams structured, and what is the pass mark?
  9. Can any aids be used in the individual exams?
  10. Are any refunds credited to the credit card that was used for payment?
  11. What provision will enter into force when a licensed senior trader with > 5 years professional experience and with the SIX Swiss Exchange license has been deactivated, and needs to be reactivated?
  12. What provision will enter into force when a "Reporting Agent" has been deactivated, and needs to be reactivated?


  1. How many questions have to be answered in the individual exams?

    Trader Examination: 100 questions on the two modules, "Rules and Regulations" and "Trading"
    Trader Examination for Licensed Traders: 50 questions on the "Trading" module
    Trader Examination for Licensed Senior Traders (with > 5 years of professional experience): 25 questions on the "Trading" module
    Reporting Agent Examination: 25 questions on the "Reporting Agent" module

    Please consult the exam pages for further details of the modules.

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  2. How long do the exams take, and can they be repeated if failed?

    Trader Examination: 2 hours
    Trader Examination for Licensed Traders: 1 hour
    Trader Examination for Licensed Senior Traders (with > 5 years of professional experience): 45 minutes
    Reporting Agent Examination: 1 hour

    The Trader Examination and Trader Examination for Licensed Traders can be retaken any number of times (rebook each time). The Trader Examination for Licensed Senior Traders with > 5 years of professional experience can only be retaken after 24 hours. There is no need for the senior trader to rebook the exam. The login details will remain valid.

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  3. Which material is relevant for each exam?

    Trader Examination: Modules "Rules and Regulations" and "Trading"
    Trader Examination for Licensed Traders: Module "Trading"
    Trader Examination for Licensed Senior Traders (with > 5 years of professional experience): "Trading" module
    Reporting Agent Examination: Module "Reporting Agent"

    Further details of the modules for each exam can be found under Preparatory Documentation.

    ^
  4. What is the best way to prepare for an exam?

    SIX Swiss Exchange offers preparatory courses covering the relevant topics for all four exams. We recommend that Senior Traders > 5 years of professional experience take the training course for Licensed Traders ("Trading" module). These courses can be provided on site as required, subject to a minimum of four people attending.

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  5. Are any practice questions available to help prepare for the exam?

    30 selected questions from the actual exam are available in the form of a test.

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  6. In which languages can the individual exams be taken?

    The exams can be taken in English and German.

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  7. Where are the individual exams held, and what is the administrative procedure?

    Participants

    Trader Examination: at the participant's premises
    Trader Examination for Licensed Traders: at the participant's premises
    Trader Examination for Licensed Senior Traders (with > 5 years of professional experience): at the participant's premises
    Reporting Agent Examination: at the participant's premises

    Once the trader/reporting agent is signed up for the exam, the responsible Compliance Officer at the participant company receives the login details needed for the trader/reporting agent to take the exam. The Compliance Officer is responsible for the proper handling of the exam. SIX Swiss Exchange sends the licence directly to the trader/reporting agent by e-mail once the exam is passed.

    Reporting Members

    At the premises of SIX Swiss Exchange in Zurich.

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  8. How are the individual exams structured, and what is the pass mark?

    The multiple-choice exam is taken online using a computer at the participant's premises. The result is shown at the end of the exam.

    Trader Examination: Pass mark 70%
    Trader Examination for Licensed Traders: Pass mark 70%
    Trader Examination for Licensed Senior Traders (with > 5 years of professional experience): Pass mark 70%
    Reporting Agent: Pass Mark 70%

    ^
  9. Can any aids be used in the individual exams?

    The following materials will be at your disposal electronically for the "Trader Examination":

    • Swiss Federal Act on Stock Exchanges and Securities Trading (Stock Exchange Act, SESTA)
    • Ordinance on Stock Exchanges and Securities Trading (Stock Exchange Ordinance, SESTO)
    • Stock Exchange Ordinance-FINMA (SESTO-FINMA)
    • SIX Group Ltd Rules of Organisation for the Regulatory Bodies of the Group's exchanges, RBOR
    • SIX Swiss Exchange Rules for the Appeals Board, ABR

    The following materials will be at your disposal electronically for the "Reporting Agent Examination":
    • Swiss Federal Act on Stock Exchanges and Securities Trading (Stock Exchange Act, SESTA)
    • Swiss Federal Ordinance on Stock Exchanges and Securities Trading (Stock Exchange Ordinance, SESTO)
    • Financial Market Infrastructure Act, FMIA
    • Financial Market Infrastructure Ordinance, FMIO
    • FINMA Financial Market Infrastructure Ordinance, FMIO-FINMA
    • 2018/02 FINMA Circular "Duty to report securities transactions"
    • Reporting Rules

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  10. Are any refunds credited to the credit card that was used for payment?

    Refunds cannot be credited to the credit card. Please provide us with the following details for refunds:

    • Name and full address of bank
    • Name and full address of accountholder
    • Account number
    • IBAN
    • Bank clearing number

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  11. What provision will enter into force when a licensed senior trader with > 5 years professional experience and with the SIX Swiss Exchange license has been deactivated, and needs to be reactivated?

    Evidence of sufficient specialist knowledge is deemed supplied if the trader has passed the trader examination of the Exchange; Should the trader re-register at a later date, the evidence that was previously supplied will be recognised if no more than two years has elapsed since the previous registration was surrendered. Once this two-year period has elapsed, the trader must supply evidence of his specialist knowledge by passing the examination for Licensed Traders.

    ^
  12. What provision will enter into force when a "Reporting Agent" has been deactivated, and needs to be reactivated?

    Evidence of sufficient specialist knowledge is deemed supplied if the reporting agent has passed the examination of the Exchange; Should the reporting agent re-register at a later date, the evidence that was previously supplied will be recognized if no more than two years have elapsed since the previous registration was surrendered. Once this two-year period has elapsed, the reporting agent must supply evidence of his specialist knowledge by passing the examination for Reporting Agents.

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If you have any additional questions about the trader examination, please contact Education.