Lombard loans on the SIX.
Private credit against SIX Swiss Exchange-listed shares — pledged, not sold.
A Lombard loan against SIX-listed shares is credit secured by a pledge of equity listed on the SIX Swiss Exchange. The holder pledges the shares, draws cash against a fraction of their market value, retains ownership and dividends subject to structuring, and recovers the position on repayment.
- Facilities are arranged against equity listed on the SIX Swiss Exchange (SIX), Zurich.
- The pledge preserves ownership, dividends, and the upside for the holder.
- Loan-to-value is set per line; funded in CHF or cross-currency.
- Structured under FINMA, with disclosure from 3%.
The venue
The principal Swiss equities venue, home to a concentrated set of large-capitalisation pharmaceutical, food, and financial issuers. Swiss confidentiality norms and a granular disclosure regime make it a structurally favourable market for institutional collateralisation.
Regulator and disclosure
The SIX Swiss Exchange operates under Eidgenössische Finanzmarktaufsicht (FINMA). FMIA Art. 120: disclosure required at 3%, 5%, 10%, 15%, 20%, 25%, 33.33%, 50%, 66.67%. A pledge over a substantial line is arranged with that reporting regime in view, so that the facility is both discreet and compliant, and so that positions near a control or takeover threshold are not disturbed.
Structuring a facility here
Lombard facilities against SIX-listed shares are typically arranged for a tenor of twelve to thirty-six months, funded in CHF or another currency on a cross-currency basis, with the collateral held by a qualified custodian under bankruptcy-remote arrangements. Non-recourse, limited-recourse, and full-recourse structures are available; the choice interacts with the loan-to-value and the spread.
| Exchange | SIX Swiss Exchange (SIX) |
|---|---|
| City · Country | Zurich · Switzerland |
| Regulator | Eidgenössische Finanzmarktaufsicht (FINMA) |
| Disclosure | From 3% |
| Principal indices | SMI, SLI, SPI |
| Segments | Main Standard; International Reporting Standard; Standard for Investment Companies; Sparks (SME) |
| Currency · Tenor | CHF · 12–36 months |
| Recourse | Non-recourse / limited-recourse / full-recourse |
Financing a position listed on the SIX?
Request terms →See also the country overview: Lombard loans in Switzerland.
Other exchanges in the region.
On this market, specifically.
Liquidity and the index
SIX carries a concentrated set of very large pharmaceutical, food and financial issuers, and the SMI and broader SPI give those names deep, continuous liquidity. For Lombard purposes that blue-chip core is close to ideal: high free float and steady turnover let us advance against a substantial holding while keeping any hedge or eventual sale well within a day's normal volume. The market thins beyond the leaders, across the SLI and into the Sparks SME segment, so for mid- and smaller-caps we lower the advance rate and size the loan to what could be realised calmly over several sessions.
Structuring notes
Settlement through SIX SIS keeps a Lombard credit against Swiss equity clean and local: the shares can be pledged into an account we control while remaining the client's property, with dividends and votes intact. This is the home ground of the firm, and Swiss custody, confidentiality norms and a predictable legal setting are much of why clients hold and finance positions here. The granular FMIA disclosure steps mean we watch where a large holding sits relative to the 3% and 5% marks, and draw the documents so that enforcement would never spring an unwanted notification.