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European Commission extends Swiss bourses' access to single market for 1 year

The European Commission said it adopted a decision to recognize Swiss trading venues as eligible under the Markets in Financial Instruments Directive and Regulation.

The decision is limited to one year until Dec. 31, 2018, but is extendable subject to "sufficient progress on a common institutional framework," European Commission Vice President Valdis Dombrovskis said.

The commission adopted the decision in the form of a Commission Implementing Act after it was backed Dec. 20 by the 27 member states of the European Union.