On 7 March 2017, FINMA granted the request submitted by SIX for the CO:RE- trading platform to be recognized as a multilateral trading facility (MTF). This represents a further milestone for SIX in its implementation of the regulatory requirements relating to the Swiss value chain with a view to making it easier for international participants to enter the market.
As the central provider of the Swiss financial market infrastructure, SIX Securities Services operates the multi-currency CO:RE trading platform via its SIX Repo AG business unit. The trading system for repo transactions is used by more than 160 national and international institutions including banks, insurance companies and the Swiss National Bank.
Thomas Zeeb, Division CEO SIX Securities Services: "SIX Securities Services consistently aims to raise the level of transparency on the financial markets and to guarantee its customers access to the money market that is recognized by regulators. The award of multilateral trading system status by FINMA is part of our long-term strategy for domestic and cross-border repo transactions."
SIX Securities Services is one of Europe's top-performing providers of post trade services, offering a comprehensive spectrum of solutions in the areas of clearing, settlement, custody account management, collateral management and repo trading in Switzerland and more than 50 other markets worldwide. In addition, SIX Securities Services operates certain key components relating to the infrastructure of the Swiss financial market: the electronic settlement platform for land registry and mortgage transactions, the trading platform for money market transactions of the Swiss National Bank and the platform for settling interbank payments. Furthermore, SIX Securities Services also handles the fiduciary management of registered bonds, e-bills and direct debits.
SIX operates the infrastructure underpinning the Swiss financial sector and offers a comprehensive range of services around the world in the fields of securities trading and settlement, financial information and payment transactions. The company is owned by its users (approximately 130 banks of various orientation and size). Its workforce of over 4,000 employees and presence in 25 countries throughout the world generated operating income of CHF 1.8 billion and a Group net profit of CHF 221.1 million in 2016.