SIX Securities Services Profit Declines in 2014

SIX Securities Services saw yearly earnings before interest and tax (EBIT) decline by 5% during 2014 to CHF29.9 million ($30.4 million).

According to its earning statement, even though operating income from the segment increased by 9.3% to CHF284 million ($288.9 million), the decline in profit was largely due to completing the acquisition of Oslo Clearing, the Norwegian clearing house, for $22.9 million in May last year.

SIX Group reported an increase in operating income of 2.6% to CHF1.8 billion ($1.83 billion), achieving a profit increase of 17.6% to CHF247.2 million ($251.5 million) largely due to increased profits from its Swiss Exchange and financial information services.

SIX also stated its post-trade business has had a good start to 2015 with a rise in clearing and settlement volumes, triggered by the Swiss National Bank’s decision to stop capping the Swiss franc against the euro.