SIX successfully went live with its new, fully integrated, real-time Repo trading facility – the CO:RE trading platform. This all-new trading facility provides single-point access for over 160 Swiss domestic and international clients to the multi-currency Swiss repo market. The new platform replaces a legacy system with state-of-the-art technology and capabilities. This investment ensures that SIX continues to build upon its expertise in the repo and securities financing business and, as a part of its strategy, further promote the advantages of Switzerland’s financial infrastructure.
As the key financial infrastructure provider for Switzerland, SIX operates the multi-currency repo trading platform. The system is used by over 160 domestic and international clients ranging from regional and international banks to Swiss insurance firms and the Swiss National Bank. By launching its new CO:RE trading platform SIX reaffirms its commitment to the repo and securities finance business. The newly developed electronic trading platform offers new functionality, combined with a significant re-design to meet different trading and regulatory requirements – such as Basel III – as well as provide increased flexibility for future requirements and upgrades.
The need to drive efficiency, reduce risk and control costs has made an efficient collateral management offering paramount. CO:RE (Collateral & Repo) is the enhanced real-time integrated securities finance offering operated by SIX Securities Services, bringing together trading and collateral management capabilities in a fully integrated value chain starting from trading through settlement and finally to collateralization at the CSD or custodian level.
The CO:RE trading platform provides monitoring of collateral in real time, while a forecast over a projection period of five days supports traders in proactively managing their collateral.
According to Thomas Zeeb, Division CEO SIX Securities Services, “We are delighted by the successful launch of this platform for the Swiss financial market. We are also excited by the potential that this platform offers our clients – including the SNB – to support and manage liquidity and regulatory requirements for Switzerland. This is in complete alignment with our strategy to safeguard and grow the attractiveness of Switzerland as a competitive market for financial investment.”