Principally centred on the Zurich-based SIX Swiss Exchange, the Swiss equities market is renowned for its stability, quality and key role in the financing of Swiss and international companies. Founded in 1995 through the merger of three Swiss stock exchanges (the Zurich Stock Exchange, the Geneva Stock Exchange and the Basel Stock Exchange), the SIX Swiss Exchange is now one of the world's leading stock exchanges. It is particularly well known for its high concentration of pharmaceutical, banking and luxury goods (watches, leather goods, jewellery, etc.) companies. The SMI (Swiss Market Index) is the Swiss market's flagship index, comprising 20 of the largest and most liquid Swiss companies. However, other broader indices such as the SPI (Swiss Performance Index) offer a broader view of the Swiss market. The Swiss equity market is renowned for its strict regulation and reliability. FINMA (Swiss Financial Market Supervisory Authority) is the supervisory authority. The Swiss equity market plays an important role in the national economy. It also serves as a barometer for financial market analysts and players to gauge the state of the Swiss economy and its international flagships. Recognised for its tendency towards neutrality in geopolitical conflicts, Switzerland is often perceived as a haven of peace by investors looking for safe havens. Although Swiss equities remain risky assets like any other equity investment, they remain popular with investors around the world looking for diversification.