Swiss Interbank Clearing

[2] Since 1987, the SIC system has been operated by SIX Interbank Clearing (100% owned by the SIX Group) on behalf of the Swiss National Bank (SNB).

The SIC was one of the first real-time gross settlement system operating worldwide, following Cedel launched in 1970.

In 1996, the Swiss Stock Exchange became an electronic trading platform, and the system SWX was developed to link it to the SIC.

[4] By 2018, the new system was rolled out to all banks in Switzerland, and further international development of the standard was planned.

The service, which aims to incorporate virtual central bank funds into a distributed ledger technology, was first launched in Switzerland, Singapore and Hong Kong.