December 6, 2018 / 11:07 AM / 10 months ago

EU to offer Swiss exchanges two-year reprieve if treaty with bloc agreed

BRUSSELS, Dec 6 (Reuters) - The European Union executive will offer Swiss stock exchanges a two-year extension of their right to operate in the bloc if an overall deal on future relations is approved by the Swiss government on Friday, EU sources told Reuters.

If Switzerland does not back the draft pact, however, the European Commission will not extend the recognition of the SIX Swiss Exchange, the country’s main stock exchange, and other trading venues, EU sources said following a meeting of EU diplomats on the issue on Wednesday.

The Swiss cabinet is expected to decide on Friday whether to back a draft agreement reached with the Commission on future bilateral ties. (Reporting by Francesco Guarascio Editing by Alissa de Carbonnel)

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