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Our Trusted Partners

Custodians

Custodians hold the underlying digital assets for physically-backed products.

Market Makers and Authorised Participants

Market Makers (MMs) are the liquidity providers engaged by the issuers to provide the necessary liquidity for the ETPs by providing two-sided quotes on the exchanges at the agreed terms set out contractually. These include Flow Traders and GHCO.

Authorized Participants (APs), commonly banks or broker-dealers, possess the privilege to create and redeem shares of the products directly with the issuer on a daily basis. This is achieved by either delivering the underlying assets or their cash equivalent to the issuer in exchange for newly generated ETP shares or by returning shares to the issuer in exchange for the underlying assets or cash. The willingness of APs to participate in digital assets, especially for assets beyond BTC and ETH, may fluctuate due to factors such as regulatory ambiguity and prevailing market conditions.

Index Providers

Index providers are responsible for creating, designing, calculating, and maintaining indices and benchmarks that ETPs track. These provide both issuers and investors with transparency and reliability. In certain jurisdictions, index providers are subject to regulatory oversight, for instance, in the EU with the European Benchmark Regulation (BMR). 

Exchanges and Multilateral Trading Facilities (MTFs)

The decision of exchanges and Multilateral Trading Facilities (MTFs) to list digital assets ETPs is initially influenced by local regulations and the regulatory approval of the issuer’s prospectus. Subsequently, it transforms into a business decision guided by the issuer and product eligibility requirements specific to each trading platform. These requirements commonly involve an assessment of the underlying asset, considering factors such as liquidity, compliance, publicly available pricing information, and risk mitigation. The criteria determining which types of products are suitable for listing can vary among trading venues. For instance, Xetra in Germany exclusively lists asset-backed ETPs, and SIX Swiss Exchange has specific regulations concerning eligible digital asset underlyings.

Additional Partners and Service Providers

Trustees play a crucial role in protecting assets and advocating for the interests of ETP holders or investors. The precise duties and responsibilities of trustees can differ based on the particular structure and legal framework of the ETP.

Administrators contribute to the comprehensive operational management of ETPs, offering services that encompass accounting, regulatory compliance, financial reporting, and shareholder services.

Various other service providers may contribute to the ETP program and product lifecycle. This includes, but is not restricted to, Paying Agents, tasked with registering new ETP units and securing ISINs from local agencies; Transfer Agents, responsible for maintaining shareholder records and other related duties; Calculation Agents, involved in determining the Net Asset Value (NAV) of the underlying assets; and Registrars, handling shareholder recordkeeping. The distribution of these roles and responsibilities may overlap or be assigned to different parties, contingent on factors such as product type, issuer, and jurisdiction.

Product Sponsors

Product Sponsors are responsible for the overall design and creation of the ETPs, coordinating and managing the relevant intermediaries across the product lifecycle. Regulatory oversight of Product Sponsors varies by jurisdiction and may not necessarily be a requirement. However, the regulator evaluates the Issuer as part of the prospectus approval process for the new Product, as does the exchange during the listing process, where requirements may include corporate governance, capital requirements, and regular audits. The Product Sponsor will use the stand-alone special purpose vehicle (issuance.swiss AG) to issue the products.

Read the following information before proceeding

The information contained on the following web pages does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in the United States of America (the ‘United States’) or in any other jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make an offer or solicitation. Users of this web site are requested to inform themselves about and to observe any such restrictions. The securities of Issuance.swiss AG have not been and will not be registered under the United States securities laws and may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended. Neither Issuance.swiss AG nor its shareholders intend to register any portion of the offering in the United States or conduct a public offering of securities in the United States. The information contained on the following web pages may not be distributed outside of jurisdictions where Prospectus will be approved and/or passported, in particular not in the United States.


Some of the information published on this website contains forward-looking statements. Users are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Issuance.swiss AG undertakes no obligation to publicly update or revise any information or opinions published on the website. Issuance.swiss AG reserves the right to amend the information at any time without prior notice.

The information contained on this website may not be considered as being a substitute for economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content of this website. An investment decision with respect to securities of Issuance.swiss AG must only be made on the basis of the offering circular published in accordance with applicable securities laws, in particular Swiss law. Users must consult their investment advisers or other advisers prior to making any decisions.

Further, by proceeding you confirm that you have read the complete legend and accept its terms:

Terms of use and legal information

By using the Issuance.swiss AG website (hereinafter “Website”), you confirm that you have understood and accept the legal information, important notes and terms of use presented here. For further information see also https://issuance.swiss/terms-of-use.

If you do not accept the terms of use, please refrain from using this Website.

Performance

Past performance is not an indication or guarantee of future performance of a product or underlying asset. The value of any investment may be subject to fluctuations and, in some circumstances, investors may not recover the original amount invested. Exchange rate fluctuations may also cause the value of an investment to rise or fall.

Conflicts of interest

From time to time, the issuer and/or lead manager and/or their third-party agents may, for their own account or for the account of others, take positions in securities, currencies, financial instruments or other assets that serve as an underlying asset to the products on this Website. They may buy or sell these assets, act as market makers, and simultaneously operate as seller or as purchaser. The trading or hedging activities of the issuers and/or lead manager and/or their third-party agents may influence the price of an underlying asset and may influence whether or not the relevant barrier level is reached (if such a level exists).

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