Admission

A distinction is made between the terms "listed" and "admitted to trading". SWX Europe admits securities to trading when they have been admitted to listing by a Competent Authority for Listing. SWX Europe does not itself have a listing function.

SWX Europe's Admission to Trading requirements are set out in the Appendix to Section 2 of the
SWX Europe Rules.

The listing of the products offered for trading on SWX Europe is described below.

Swiss Securities

The SWX Swiss Exchange (SWX) is the Competent Authority for Listing for Swiss securities.

SMI securities

A security which has been listed by the SWX may be included by the SWX in the Swiss Market Index (SMI®) following quantitative criteria of the index rules and a proposal by the Index Commission in accordance with the SMI regulations. A security included within the SMI is then admitted to trading on SWX Europe.

SMI securities as at 1 July 2005 (and some former SMI securities) were allocated by the SWX Admission Board to the SWX "EU-Compatible" Segment and accordingly admitted to trading on the EU Regulated Market Segment for SMI securities of SWX Europe (formerly virt-x). If an SMI issuer opted to be allocated to the Main Listing Segment, its shares were admitted to trading on the UK Exchange Regulated Market Segment for SMI securities.

The segment of an SMI security does not affect its inclusion in the SMI.

SLI securities

Similarly following quantitative criteria of index rules and a proposal by the Index Commission in accordance with the SLI regulations, a security listed by the SWX may be included in the SLI Swiss Leader Index® ("SLI®") which comprises the 20 stocks of the SMI as well as the 10 most highly capitalised and most liquid issues in the SMI MID ("SMIM®"). The trading of shares of those SLI issuers that previously were not included in the SMI or admitted to trading on SWX Europe were transferred in September 2007 to the UK Exchange Regulated Market segment for Swiss securities on SWX Europe (formerly virt-x). There was no change to the regulatory framework for those issuers but they could then have their shares listed in the SWX "EU-Compatible" Segment on publication of a prospectus approved by SWX as well as the responsible authorities in the home EU member state in accordance with the provisions of the Additional Rules for Listing in the SWX "EU-Compatible" Segment as well as any further provisions of the home member state.

The segment of an SLI security does not affect its inclusion in the SLI.

Pan-European Securities

Pan-European securities are listed by a Competent Authority for Listing and may be admitted to trading on SWX Europe in accordance with SWX Europe’s Admission to Trading requirements.

Exchange Traded Funds (ETFs)

ETFs are listed by a relevant Competent Authority for Listing and may be admitted to trading on SWX Europe in accordance with SWX Europe's Admission to Trading requirements.