The three still existing Swiss stock exchanges in Basel, Geneva and Zurich will be merged into one electronic trading system. The introduction of the trading system (with settlement facilities) has been delayed several times. On 25 July 1995 the Swiss newspapers carried an article according to which a further decision on the introduction will be taken on 24 August 1995 on whether a simulation phase of the introduction should be started.
At present a sub-simulation phase is being tested by several of the larger Swiss banks.
The first phase of EBS will allow dealing in fixed interest securities only.
For further information contact Debbie Grauf on +411 249 3131 or enter text search "KPMG Fides" and "Business Monitor".