SIX has completed the full migration and operation of assets held under custody by Greece’s Hellenic Central Securities Depository (CSD), ATHEXCSD.
Under the arrangement, ATHEXCSD has appointed SIX as its global custody solutions provider, and has set up a direct link with SIX to comply with the Central Securities Depository Regulation (CSDR).
“ATHEXCSD is looking forward to cooperating closely and leverage SIX’s expertise, know-how and comprehensive range of services in international custody,” said Socrates Lazaridis, CEO of ATHEX and CEO of ATHEXCSD.
“The direct link with SIX under CSDR will enable ATHEXCSD to enhance its consolidated global trading and post-trading services provided under the XNET platform through expanded capabilities at competitive cost for participants. It will also enable dual listing of Greek bonds to support our growing local corporate bonds market,”
The migration comes months after ATHEXCSD was granted a CSDR license, bringing new opportunities for servicing issuers, members and their clients.
Along with the provision of ancillary services of ATHEXCSD under CSDR such as registry services, e-GM and e-proxy voting, SRD II issuer agent services, access of ATHEXCSD to other markets via SIX SIS will enhance and internationalise the Swiss market infrastructure’s overall product offering.
“Our global connectivity, our enhanced asset servicing model along with the individualised customer services we have created for ATHEXCSD demonstrate our ability to deliver tailored solutions for infrastructure clients,” said Javier Hernani, head of securities services and member of the executive board, SIX.
“Given our strong position in the global post-trade value chain, we believe that this new business partnership will increase joint value and support ATHEXCSD’s future business growth plan.”
SIX operates a custody network which spans over 60 markets, providing Swiss and international clients with local market expertise, advanced processing technologies and a range of focused and innovative solutions.