Brussels — The EU executive will offer Swiss stock exchanges a two-year extension of their right to operate in the bloc if the Swiss government approves an overall deal on future relations on Friday, EU sources say. If Switzerland does not back the draft pact, however, the European Commission will not extend the recognition of the SIX Swiss Exchange — the country’s main stock exchange — and other trading venues beyond 2018,EU sources said following a meeting of EU diplomats on the issue on Wednesday. The Swiss cabinet is expected to decide on Friday on whether to back the draft agreement reached with the commission on future bilateral ties. “It’s deal time. Playing for time wouldn’t change anything. The draft will not be changed anymore,” an EU official said. Under the draft deal, which would govern EU-Swiss relations currently regulated by about 120 accords by sector, Switzerland would automatically adapt its migration and social security rules to changes in EU legislation, EU dipl...
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