Switzerland: Financial Sector Assessment Program-Technical Note on Securities Market-Selected Issues in Regulation and Supervision
IMF Staff Country Reports, November 13, 2025
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- Switzerland: Financial Sector Assessment Program-Technical Note on Securities Market-Selected Issues in Regulation and Supervision
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Bibliographic details
- Published: November 13, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229031400.002
Market overview and structure
- Switzerland has a large securities market and one of the world’s largest asset and wealth management industries, where banks play a dominant role.
- Swiss asset managers manage CHF 7.87 trillion in assets, among others CHF 1.3 trillion in collective assets and CHF 1.9 trillion in discretionary mandates.
- Banks, directly and at a group level, manage most of these assets and generate a substantial part of their revenues from asset and wealth management activities.
- The secondary market in Switzerland leads the market share of trading in Swiss equities globally, including in three of the top ten shares in Europe by market capitalization.
- Securities trading is concentrated in one trading venue, under the SIX group, which manages practically the entire financial markets infrastructure in the country.
- Banks are dominant shareholders of the trading venue/group and the leading broker-dealers.
Subjects and keywords covered
- Subjects: Asset and liability management, Asset management, Financial institutions, Financial markets, Financial regulation and supervision, Liquidity, Liquidity risk, Securities, Stock markets, Stocks
- Keywords: Asset management, asset management industry, financial market supervision, Global, Liquidity, Liquidity risk, market abuse, market resilience, Securities, securities trading, Stock markets, Stocks
Source: Switzerland: Financial Sector Assessment Program-Technical Note on Securities Market-Selected Issues in Regulation and Supervision, IMF Staff Country Reports, November 13, 2025.
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