SIS X-CLEAR TO PROVIDE CLEARING FOR FORTHCOMING SWX SWISS BLOCK MARKET

Posted August 5, 2008

ZURICH -- SIS x-clear AG, the central counterparty (CCP) for SWX Europe and the SWX Swiss Exchange, has extended its services to provide clearing for SWX Swiss Block, the non-displayed liquidity service from SWX Europe.

“In an increasingly competitive market the demand for alternative execution venues is rising steadily,” says Marco Strimer, Chief Executive Officer of SIS x-clear AG. “As a user-owned, user-governed organization we develop the services our clients want us to and are seeing huge interest in this burgeoning arena.”

SWX Europe, the London-based securities exchange owned by SWX Swiss Exchange, is due to launch SWX Swiss Block, a non-displayed liquidity service for Swiss blue-chip equities, in early August.

Complementing SWX Europe’s existing public limit order book, SWX Swiss Block will help market participants execute wholesale business anonymously and in bulk with reduced market impact. SIS x-clear already serves as the CCP for SWX Europe and SWX Swiss Exchange.

“Clients executing trades through the new SWX Swiss Block service will be able to clear and settle as they would through our traditional channels, with the benefit of post-trade anonymity and robust risk management naturally provided by our services,” says Strimer.