As the UK and EU negotiate how their various relations will be governed post-Brexit, the arrangements established with Switzerland are sometimes cited as a possible template. GC spoke to Thomas Zeeb, head of securities and exchanges at SIX, about the lessons the UK securities industry might wish to take from the Swiss experience.
The decision comes amid wider fee pressure from asset managers and other client types as they look to reduce their own operating costs.
The Swiss market infrastructure will merge SIX Exchange and SIX Securities into one business from the second quarter of 2018.
Real-time settlement was cited as the most important factor in the selection process for a collateral management provider.
Six Swiss Exchange and Nasdaq have worked together on various technology projects for more than 10 years.
SIX Securities Services has added US equity and fixed income securities to its CO:RE trading platform.
New platform covers full bond trading lifecycle from issuance to settlement, although it is some way off market wide adoption.
Regulators have granted approval for SIX Securities Services to launch its Switzerland-based trade repository.
SIX has recorded a slight increase in its securities services revenues against the backdrop of a large reduction in the group’s net profit.
A majority of banks are actively engaging with blockchain technology despite uncertainty over its wider implementation.