SIX Securities Services has launched in Vietnam and Bosnia-Herzegovina and plans to open Qatar by December 12.
The company has already opened eight new markets this year – Abu Dhabi, Dubai, Egypt, Israel, the Kingdom of Saudi Arabia, Peru, Cyprus and Colombia. The latest additions bring the number of markets in which SIX operates to 66.
The launch of these new markets reflects SIXs commitment to help clients execute their global strategies, said the company. The company provides post-trade services, including custody, CCP clearing, risk management, real-time settlement, collateral management and share registration services for the domestic Swiss market and international markets.
Nino Ciganovic, head of Global Sales & Network Management, SIX Securities Services, commented: “This further expansion underscores our continuing commitment to the increasing demands of our clients as they internationalize their businesses. Our constant challenge is to increase and maintain access to as many markets as our customers need. This in addition to our launch of eight markets earlier this year is a natural step further in that direction.
SIX, whose CCP component has interoperability with LCH.Clearnet via the groups alliance with the London Stock Exchange, is also in the process of enhancing these capabilities. It has interoperability with UBS MTF and Turquoise, with Nasdaq OMX to follow in April next year. These developments are expected to expand its access to clearing volumes from 15% to 60% of market share.
It is understood the provider is looking at options for organic growth in the CCP area. It was recently given a mandate to clear for Chi-East Asia, covering Singapore, Hong Kong, Australia and Japan, via its interoperability with LCH.Clearnet.
(JDC)