New possibility of separate SIX trading
line for share buybacks by Swiss
companies listed abroad

On 2 February 2026, the Regulatory Board of SIX Swiss Exchange ("SIX") announced that, with effect from 2 March 2026, SIX will enable Swiss-domiciled companies listed on recognized foreign stock exchanges to establish a separate trading line for the purpose of buying back their own shares without being listed on SIX (commonly referred to as a "second trading line" or "zweite Handelslinie" for SIX listed issuers). For this purpose, SIX will introduce a new trading segment "separate trading lines for equity securities listed abroad". Initially, this facility is only available to Swiss issuers listed on stock exchanges in the United States and the United Kingdom.

This regulatory development represents a significant step forward for Swiss issuers listed on a recognized foreign stock exchange seeking a tax-efficient and compliant mechanism to execute share buybacks without the requirement to be formally listed on SIX.