Moody’s Investors Service has assigned top ratings to SIS x-clear AG, the subsidiary of SIS Swiss Financial Services Group.
Moody’s gave SIS x-clear AG a prime-1 for short-term deposits and Aa1 for long-term deposits, the first time since it started operations in 2003.
According to Moody’s, the high rating is mainly motivated by the clear division of responsibilities within a strong organisation, the outstanding technological capacities and the high standard of risk management at SIS x-clear.
Another factor is that SIS x-clear, which acts as Central Counterparty of the London-based stock exchange virt-x, is well-established in the Swiss securities industry.
The high level of technology and the unreserved support from financial market institutions also contributed to the excellent result.
“This confirms that we, as a Central Counterparty, contribute to a significant reduction of risk in the securities business,” said Marco Strimer, CEO of SIS x-clear is very proud of the high rating. “It clearly shows that the size of a company is not the only relevant factor. A high commitment to quality, a sound financial basis as well as technological and operational capabilities are just as crucial.”