SIX has launched a new clearing platform for the Nordic Markets to enable the clearing of 10 million trade legs per day, with SIX expecting an increase in the number of cleared trades going forward.
Based on Nasdaq technology, the new clearing IT infrastructure has been integrated into the SIX post-trade architecture.
SIX intends to extend the markets and trading venue coverage for Swiss clearing onto this new platform as the next step of its growth.
The upgrade will provide continued enhancement of the IT infrastructure and reliability as well as increased functionality and processing capabilities, says SIX.
Javier Hernani, head of securities services at SIX, comments: “This upgrade reinforces the position of SIX as a source of high-quality market infrastructure. The new platform for the Nordic markets, with its increased efficiency and scalability, will enable market participants to enhance the client experience in post-trade processes.”
Roland Chai, executive vice president and head of market infrastructure technology, at Nasdaq Market Technology, says: “This demonstrates Nasdaq’s ability to deliver robust next generation architecture at the core of European interoperable cash equities markets. We look forward to continuing our technology partnership and supporting SIX in their long-term growth ambitions.”
The news comes in the same week that SIX completed the acquisition of Clearstream’s 50 per cent stake in REGIS-TR, which has now become a 100 per cent owned SIX company.
REGIS-TR, consisting of REGIS-TR S.A. and REGIS-TR UK, has a portfolio of more than 2,000 European clients across over 40 countries.
REGIS-TR is a European trade repository for reporting trades and transactions across multiple product classes and jurisdictions, open to financial and non-financial institutions.
