The SIX Interbank Clearing (SIC) service allows real-time electronic transactions in Swiss francs to be made between banks. When it was initiated in 1987, the SIC was one of the first real-time transaction clearing systems. This service is operated by Six Interbank Clearing AG on behalf of the Swiss National Bank (SNB), which acts as system manager.
In order to use the service, banks must maintain SIC accounts which are used to settle transactions. These accounts are balanced by the banks’ accounts at the Swiss National Bank.
The euroSIC payment system, another service provided by Six Interbank Clearing AG, provides real-time electronic transactions in euros to be made between Swiss banks and banks in the euro zone. It is operated in collaboration with the Swiss Euro Clearing Bank (SECB), a German bank which specializes in clearing euro transactions. The SECB acts as system manager.