TheCityUK responds to restoration of UK-Swiss share trading

The UK and Switzerland today restored cross-border access to share trading venues.

Miles Celic, Chief Executive Officer, TheCityUK, said,

Market participants around the world will be delighted at the restoration of UK-Swiss share trading arrangements. When many businesses need capital and investment to recover following the global pandemic, this action will help to boost liquidity and confidence.

“The barriers put in place between the UK and Switzerland by the EU Commission following an unrelated political dispute in June 2019 created much dismay and concern across the industry. Fragmentation of global capital markets leads to additional friction, reduces choice, and increases costs for customers and clients.

“Today’s move is another reassuring signal that following Brexit, the UK is determined to remain open and outward-looking, maintaining high regulatory standards, while taking a technical and transparent approach to cross-border activity.”