Financial institutions in Switzerland and abroad rely on efficient, low-cost European clearing systems. SIC and euroSIC, the two services provided by Swiss Interbank Clearing AG, have acquired an excellent reputation all over the world. To ensure that the company and its products are properly positioned, Telekurs SIC AG has decided to change its name to Swiss Interbank Clearing AG.

SIC and euroSIC

SIC, the clearing system for Swiss franc payments, allows the participating financial institutions to optimise cash management and facilitates the rapid settlement of payments in Switzerland. euroSIC provides a link to the other European payment systems and thus also provides an efficient cross-border gateway for payments to and from other European clearing systems.

Over one billion payments since 1987

To date, over a billion payments have been cleared through SIC. On peak days, transactions totalling up to 300 billion Swiss francs are handled. The number of euroSIC payments has risen steadily since January 1999. Altogether in 1999, euroSIC processed 503,000 transactions, about a third of which were cross-border payments.

Information:
Bernhard Wenger
Press Spokesman and Head of Public Relations

Telephone: +41 (0)44 279 22 20
Facsimile: +41 (0)44 279 23 36