Which entity determines which external exchange exams are recognized as partial equivalents?

• A. FINMA
• B. SIX
• C. Swiss National Bank
• D. Exchange bodies

Answer: (B)

The key idea is who decides which external exams count toward part of the formal qualification for exchange-related activities. SIX is the body that determines and publishes which external exchange exams are recognized as partial equivalents. SIX acts as the operator and coordinator of the Swiss exchange framework, setting the list of exams that can meet part of the required qualifications. FINMA supervises and licenses firms and professionals within the framework but doesn’t decide the specific partial-equivalent exams. The Swiss National Bank focuses on monetary policy and payments systems, not exam recognition. Exchange bodies may run or sponsor exams, but the formal recognition of partial equivalents comes from SIX.