D. Provisional admission to trading

Art. 31
Requirements

¹ In order that the derivatives that are to be listed can be admitted provisionally to trading, the applicant must describe the derivatives in the application for provisional admission, and must give an assurance that all of the listing requirements laid down in the LR and these Additional Rules are fulfilled, that the derivatives are structured in a way that has already been approved by the Regulatory Board, and that a listing application will follow.

² Furthermore, the application for provisional admission to trading must be submitted to the Regulatory Board in good time using the electronic platform made available by SIX Swiss Exchange.

³ Derivatives from new issuers will not be granted provisional admission to trading until the issuer itself has been approved.

⁴ Provided the application for provisional admission to trading has been submitted in due time, provisional trading will generally begin from the date requested by the applicant.

See also:

• Directive Procedures Debt Securities (DPDS)

Art. 32
New issuer

¹ In the context of Art. 31 para. 3, a new issuer is an issuer which, at the time the application for issuer approval is submitted, has never had derivatives provisionally admitted to trading or listed.

² The following are not deemed to be new issuers within the meaning of Art. 31 para. 3:

1. an issuer whose derivatives issue is guaranteed by a guarantor that either:
   1. acts as guarantor for other derivatives that are already listed or provisionally admitted to trading on SIX Swiss Exchange; or
   2. has itself had derivatives listed or provisionally admitted to trading on SIX Swiss Exchange.
2. an issuer of shareholder or employee share options that entitle the holder to receive or purchase equity securities or their surrogates which are issued by the issuer itself or by a company that is associated with the issuer as part of a group of companies, and that are listed on SIX Swiss Exchange.

Art. 33
Time limit for provisional admission

¹ Provisional admission to trading will lapse automatically if the listing application is not lodged within a maximum of two months from the start of trading.

² The applicant may be fined if the application for the listing of the derivatives that have provisionally been admitted to trading is not submitted, or if it is rejected on the grounds of non-fulfilment of the listing requirements. In addition, the applicant may be excluded from submitting applications for provisional admission for a period of up to three years.

³ The sanctions referred to in Art. 33 para. 2 may be imposed only if the applicant's conduct is judged to have been in breach of important professional obligations.