Swiss government triggers countermeasures in EU bourse battle

Switzerland on Thursday triggered measures to counter the European Commission's refusal to extend recognition to Swiss stock markets, plunging the two sides deeper into a standoff over a stalled partnership treaty.

Starting July 1, the Swiss will forbid European Union trading venues from offering or facilitating trading in certain equity securities of companies with a registered office in Switzerland.

"The Swiss Federal Finance Department is...activating the measure to protect the Swiss stock exchange infrastructure," the department said in a statement. "This activation is because the European Commission has not yet extended the stock market equivalence."