Swiss Supreme Court holds that arbitration provision in Swiss Stock Exchange Listing Rules cannot replace formally valid arbitration agreement
02 March 2011
Authors: Nathalie Voser
, Patrick Rohn
In a German-language decision concerning a domestic arbitration case dated 1 December 2010 and published on 19 January 2011, the Swiss Supreme Court overturned a decision of the Appeal Court of the Canton of Zurich and held that the operator of the Swiss Stock Exchange (that is, the SIX Swiss Exchange AG), does not have the legislative power to (unilaterally) provide in its Listing Rules for arbitration of disputes over listings and de-listings of equity securities. The applicable Securities Exchange Act provides that such disputes are to be referred to a civil court, and a submission to arbitration requires a formally valid arbitration agreement.
Published in Practical Law Arbitration
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