Iberclear implements policies regarding continuity and remuneration that ensure the stability of its operations and guarantee safety in the management of its activities and personnel.
Continuity Policy
Within the framework of the SIX/BME Group Continuity Management System, Iberclear maintains a business continuity policy aimed at ensuring the preservation of its functions, the timely recovery of operations, and the fulfillment of its obligations.
Remuneration Policy
Key Aspects of Iberclear Remuneration Policy
On November 22nd, 2022, the Iberclear Board of Directors adopted the remuneration policy of SIX Group.
The SIX Group remuneration policy, adopted by Iberclear as its own policy, is designed to provide a consistent compensation framework throughout the organization.
The SIX compensation framework supports the Company’s vision of aligning the interests of its employees with those of the Company, its customers, and the community, in line with sustainable corporate development and appropriate risk management practices.
The compensation strategy is based on the following principles:
- Clarity and transparency
- Flexibility
- Equality
- Pay for performance
- Sustainability
Compensation Framework
SIX follows a total compensation approach. Total target compensation at SIX comprises of a base salary and may include a target STI (shortterm incentive) amount, as well as a sales bonus or commission. For selected employees, total target compensation may also include a long-term incentive (LTI) award.
Base salary
The principal factors determining the base salary amount are the employee’s responsibilities, experience, skills, and competencies, as well as their hierarchical level and country of employment. Base salaries are defined as annual amounts that are paid regularly.
Variable Remuneration
Short-term incentive (STI) plan
The STI plan is a short-term variable compensation element that recognizes for a given fiscal year both the company’s performance (at payout) and the individual contributions of employees (through individual target setting).
The STI’s objective is to strengthen the focus on and reward eligible employees for their contributions to the SIX Group’s performance, as well as to promote collaboration through knowledge sharing and idea exchange beyond organizational boundaries.
In principle, all SIX employees are eligible to participate in the STI plan, regardless of their function or hierarchical level, except for the following categories of employees:
- Employees participating in a sales/commission plan
- Employees with contracts other than unlimited contracts
Sales and commission plans
Some employees in sales roles receive sales bonuses and/or commissions, which are set out in separate plan documents. These sales and commission plans regulate payout cycles and details such as target amounts and payout ratios in relation to sales transactions and goals.
Long-term incentive plan (LTI) plan
The purpose of the LTI plan is to enable select senior employees to participate in the Company’s longer-term success.
Social benefits
According to the SIX Group policy framework, BME provides social benefits to all its employees as part of their remuneration package. Some of these benefits are considered payment in kind for tax purposes. Their regulation and scope are stipulated in the collective agreement.
Control functions
To avoid potential conflicts of interest, the variable compensation of employees in control functions (such as Audit, Risk, Exchange Regulation, etc.) is limited in terms of their total target cash compensation (i.e. base salary and target STI). The NCC has full discretion over potential nominations to LTI participation, as part of the same process as for other employees.
To attract and retain competent and experienced professionals to work at SIX, the total cash compensation or these functions must be set at sufficient levels.