The euroSIC euro payment system

SIX Interbank Clearing's payment system euroSIC enables banks worldwide an efficient and inexpensive access to the euro finance marketplace and to the Swiss financial center.

This animated presentation illustrates all worth knowing of the Swiss RTGS system euroSIC.

This animated presentation illustrates all worth knowing of the Swiss RTGS system euroSIC.

Navigation tips.

With euroSIC, Switzerland as a non-EU member state, has an interface to the TARGET2 RTGS system of the eurozone countries, as well as to the German and the pan-European EMZ and STEP2 payment systems. euroSIC participants have a rapid, inexpensive real-time connection to all financial institutions in the EU/EEA zone. Conversely, euroSIC enables the EU/EEA banks to conduct euro transactions with the euroSIC participants.

Benefits in brief

  • Euro payments from any place in the euro area to any place in Switzerland and Liechtenstein and vice versa.
  • Over 3,200 bank branches in Switzerland/Liechtenstein and 36,000 institutions worldwide can be addressed.
  • Payments via TARGET2 to Switzerland and vice versa.
  • Payments via TARGET2 or STEP2 to and from Liechtenstein.
  • No correspondence bank connection needed.
  • Irrevocable and unconditional settlement in real time.
  • Favorable conditions.

Liquidity management “à la carte”

The euroSIC system is available around the clock from Monday to Friday. It simplifies cash management in euro for banks and features automatic liquidity control. euroSIC makes online liquidity management available for this purpose.

Each participant holds a settlement account in euroSIC that is reconciled daily through a sight deposit account at the SECB. In the process, SECB can exercise its function as system manager and grant credit to the system participant’s settlement account should there be insufficient liquidity. euroSIC participants may utilize this intraday facility without paying interest. Collateral eligible for repos must always cover the amount drawn.

The euroSIC system

Euro payments made from Switzerland and Liechtenstein

Payments to the euro zone

euroSIC participating banks process all types of cross-border euro payments via the European Union's TARGET2 system rapidly, easily and inexpensively.

The euroSIC system

Euro payments made to Switzerland and Liechtenstein

Payments to CH and LI

TARGET2/STEP2 participating banks process all types of cross-border euro payments conveniently to Switzerland and Liechtenstein through the euroSIC system.