Due to its interaction with pan-European electricity markets, any new market design at the European level will have an impact on the Swiss electricity system (and its producers and consumers). This study analyzes the effects of the changes in the European electricity market design currently under discussion on the Swiss electricity system. First, an up-to-date overview of the measures under discussion is provided and their potential effects are assessed. Secondly, the study will successively model and optimize (i) the European system at the national level for different market design scenarios and (ii) the Swiss electricity system at a finer granularity. Finally, based on the comprehensive analysis of the results and impacts, a set of recommendations for the Swiss electricity system will be developed, covering investment signals, risks for consumers and producers, and the need for flexibility.