A Few White Papers
you are currently viewing::New SIX White Paper: Swiss Versus US ListingsFebruary 4, 2026-Switzerland is uniquely positioned as a listing destination, yet tech companies sometimes gravitate in their listing considerations toward the US in pursuit of higher valuations and broader perceived advantages such as investor access, liquidity, and research coverage. To separate fact from fiction around these factors, SIX has published a new edition of the white paper ‘Evaluating the Aspects of a Swiss versus a US Listing’. The findings reveal that Switzerland's IPO credentials stack up strongly against the US. Access to US investors does not require a US listing. A listing on SIX Swiss Exchange enables issuers to target US institutional buyers via a Rule 144A offering, which allows securities to be sold to qualified institutional buyers without needing to register with the US Securities and Exchange Commission. At the same time, Switzerland has one of Europe's largest pools of investor capital -valued at USD 207 billion- which is second only in size to the UK. Source: six-group.com |
IMF Working Paper: From Par to Pressure: Liquidity, Redemptions, and Fire Sales with a Systemic Stablecoin
January 16, 2026-Summary
Fiat-backed stablecoins are expanding, and their issuers may attain systemic relevance as reserve portfolios grow and as they become increasingly intertwined with financial markets. This paper analyzes the resulting risks and the design choices that can mitigate them. A detailed financial-economics discussion forms the core of the paper.
IMF Working Paper: Market Access and High Spread Issuances
January 16, 2026-Summary
We investigate the factors determining emerging markets' likelihood to access international capital markets. First, we develop a simple model to outline the theoretical foundations of market access, highlighting the role of risk, spreads, net worth, and the cost of repaying debt. The model also shows a trade-off between risk insurance and moral hazard and underscores the relevance of unconventional instruments such as guarantees and macro-contingent debt.
IMF Working Paper The Economic Implications of the Energy Transition in Asia-Pacific
January 9, 2026--Summary
This paper examines the economic effects of the global energy transition and the large uncertainty surrounding future fossil fuel demand on countries in the Asia-Pacific region. Under the paper's baseline, coal demand is expected to shrink by 15 percent by 2035, although depending on global policy ambition and technological uptake, the decline could be as large as 45 percent.
