SIX Securities Services is selling its share register services business, SIX SAG, to Computershare.
The agreement will enable SIX to concentrate further on its core business, as the responsibility of organising general meetings with third party firms shall also be transferred to Computershare, a bank-independent issuer service provider.
The deal is expected to close by or before the fourth quarter of 2015, and shall involve Computershare taking on the entire business and workforce of SIX SAG.
SIX SAG, which consists of 25 staff members, are also currently responsible for carrying out administrative tasks on behalf of clients.
SIX Securities Services will continue to provide a variety of post-trade services within the Swiss financial market, including securities custody, clearing and settlement.
“Disposal to Computershare not only guarantees continuity but opens up new horizons for our staff and clients by enabling them to capitalise on Computershare’s wider spectrum of services,” says Thomas Zeeb, division CEO, SIX Securities Services.