On 13 January 2021, there was published on legislation.gov.uk The Markets in Financial Instruments (Switzerland Equivalence) Regulations 2021 together with an explanatory memorandum.

The statutory instrument specifies that the legal and supervisory framework for stock exchanges in Switzerland meet at least equivalent outcomes to the UK’s corresponding regime. It will allow UK investment firms subject to the trading obligation as set out in Article 23(1) of the Markets in Financial Instruments Regulation, as it forms part of retained EU law, to trade shares that fall within scope of the share trading obligation on Swiss trading venues that have been recognised as equivalent – BX Swiss AG and SIX Swiss Exchange AG.

The statutory instrument comes into force on 3 February 2021.