Regulation · Permission · Switzerland · Licence or charter · Swiss Financial Market Supervisory Authority
FINMA licences for SIX Digital Exchange AG (central securities depository) and SDX Trading AG (stock exchange)
The first Swiss licences for infrastructure that trades and settles securities in token form. FINMA authorised SIX Digital Exchange AG as a central securities depository and SDX Trading AG as a stock exchange under the Financial Market Infrastructure Act's traditional route, not as a DLT trading facility under the DLT Act, so participants are supervised financial institutions.
In force · effective 10 Sep 2021
Held by
Deployments operating under it
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| Africa Finance Corporation digital CHF bond on SDXNew SIX Digital Exchange (SDX) | Live (limited) | Reviewed 14d ago | ||
| Canton of Basel-Stadt digital bond on SDXUpdated 28 Oct 2026 SIX Digital Exchange (SDX) | Live (limited) | Reviewed 14d ago | ||
| Canton of Zurich digital bond on SDX SIX Digital Exchange (SDX) | Live (limited) | Reviewed 14d ago | ||
| City of Lugano digital bonds on SDXUpdated 28 Oct 2026 SIX Digital Exchange (SDX) | Live (limited) | Reviewed 14d ago | ||
| City of St. Gallen digital bond on SDX SIX Digital Exchange (SDX) | Live (limited) | Reviewed 14d ago | ||
| SIX Digital Exchange tokenised shares in a regulated CSDUpdated 28 Oct 2026 SIX | Live (limited) | Reviewed today | ||
| SIX Group dual-part digital bond on SDXNew SIX Digital Exchange (SDX) | Live (limited) | Reviewed 14d ago | ||
| World Bank digital CHF bond on SDX SIX Digital Exchange (SDX) | Live (limited) | Reviewed 25d ago | ||
| UBS digital bond on SDXUpdated 28 Oct 2026 SIX Digital Exchange (SDX) | Inactive | Reviewed 22d ago |
Sources
- [1]FINMA issues first ever approval for a stock exchange and a central securities depository for the trading of tokens — FINMA, 10 Sep 2021. Accessed 12 Oct 2026.A