Swiss stock exchange SIX today announced it has launched a new IT clearing infrastructure for the Nordic markets. The announcement detailed that the platform is based on the Nasdaq technology and has been in operation since 28 March.
SIX stated that it has already integrated the new platform into its SIX Post Trade Architecture (PTA).
Javier Hernani, Head Securities Services, SIX commented:
Javier Hernani Source: LinkedIn
This upgrade reinforces the position of SIX as a source of high-quality market infrastructure. The new platform for the Nordic markets, with its increased efficiency and scalability, will enable market participants to enhance the client experience in post-trade processes. In addition, IT development will become more agile and adaptable to client, market, and regulatory needs, which is crucial in the fast-moving market environment.
According to the official announcement, the improved IT infrastructure will enable the clearing of 10 million trade legs per day. The SIX is expecting an increase in the number of cleared trades in the future.
Roland Chai, Executive Vice President and Head of Market Infrastructure Technology, Nasdaq Market Technology, added:
Roland Chai Source: LinkedIn
This demonstrates Nasdaq´s ability to deliver robust next generation architecture at the core of European interoperable cash equities markets. By leveraging Nasdaq’s flexible clearing technology, SIX can further evolve and grow its clearing business and advance its scalability and efficiency, while bolstering its position as a leading provider of clearing services. We look forward to continuing our technology partnership and supporting SIX in their long-term growth ambitions.
Earlier in March, the SIX posted 83% drop in its 2021 profits.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
