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Exclusion of a Trader

A trader may be excluded for various reasons:

Obligatory suspension

If a trader with provisional registration does not obtain a trader's license up to the due date, the latter is suspended by SIX Swiss Exchange and the previously provisionally registered trader is not entitled to operate as a trader for as long as the suspension remains in force. The suspension continues to apply if the previously provisionally registered trader ceases trading for one participant and subsequently acts for another. As soon as a person whose provisional registration has been suspended receives a trader's license recognised by SIX Swiss Exchange, the participant may apply to SIX Swiss Exchange for permanent registration. Suspension may only be lifted by the granting of permanent registration.

Voluntary suspension

The participant may request voluntary suspension of the provisional registration at SIX Swiss Exchange.

Termination

If a permanently registered trader temporarily ceases to engage in active trading and stays with the participant, its permanent registration is terminated. The participant must apply to SIX Swiss Exchange for termination and the cancellation of such termination.

Departure

If a registered trader changes participants (change of employer) or no longer fulfils the requirements for registration, he or she must resign as a trader at SIX Swiss Exchange. The participant arranges for the trader's resignation at SIX Swiss Exchange.

Suspension

SIX Swiss Exchange may suspend the registration of traders in the event of violations of SIX Swiss Exchange rules and regulations, in cases where a requirement for registration is not fulfilled, or while criminal proceedings are pending.