German exchange group enters the digital asset world with plans for issuance, custody, access to liquidity, and banking services.
SIX Group will use Nasdaq’s post-trade technology for pan-European equities and Nordic derivatives.
A fully integrated trading, settlement and custody infrastructure for digital assets is set to launch in 2019.
SIX will consolidate fund processing with Clearstream’s Vestima platform.
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.
Six Swiss Exchange and Nasdaq have worked together on various technology projects for more than 10 years.