Switzerland looks likely to have outmaneuvered the European Union, after the latter ended its recognized stock exchange equivalence with the country.

The EU allowed the equivalence, which allows Swiss equities to be traded easily within the bloc, to expire at the end of June.

The EU move formed part of a dispute over the non-member nation's political arrangements with the bloc. Switzerland and the EU are embroiled in an ongoing disagreement regarding long-standing financial, immigration and trade ties between the two.

In response, Swiss authorities removed the recognition which allows EU trading venues to offer trading in around 250 Swiss companies, in accordance with a pre-emptive ruling from the Swiss Federal Council in November 2018 to protect Swiss exchanges in the event of talks collapsing.

Banks and asset managers may face fines or even jail if they flout the ban on trading Swiss stocks on EU exchanges.

Thomas Zeeb, head of securities and exchanges at SIX Group, which operates the Swiss stock exchange, told CNBC the move had "safeguarded and strengthened the running of the Swiss capital market."

EU market participants continue to have access to the Swiss domestic market and are able to trade Swiss shares "in the most liquid and deepest order book," Zeeb explained.

"SIX has prepared for this eventuality by establishing direct links to all its clients and intensified the regular exchange with all stakeholders over the past months so that trading would not be disrupted," he added.

Zeeb highlighted that the Swiss legal framework has already been judged to be equivalent "numerous times by the EU technical authorities" and said SIX expects that equivalence will be granted once a resolution is found to the Institutional Framework Agreement, which governs ties between Switzerland and the EU.