SIX has announced its collaboration with Clearstream, aiming to bolster efficiency in financial markets by integrating Connexor, SIX’s flagship reference data service, with D7, Deutsche Börse’s digital post-trade platform.
SIX will link Connexor with D7, which operates under the German eWpG regulation, enabling the digitisation of financial instruments and issuance of electronic securities. This strategic move aligns with regulatory requirements and market demands for standardisation, marking a significant step towards a digitalised and streamlined future for financial markets. The partnership is set to be provisionally activated in the second half of 2024. This will provide market participants with a single access point to fulfil their regulatory obligations efficiently.
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The partnership between SIX and Clearstream will help advance market efficiency and ensure seamless regulatory compliance. For users, here are the top implications:
Users can access a comprehensive solution for international reference data processing through the SIX Swiss Exchange. This eliminates the need to engage with multiple providers, streamlining their operations and reducing administrative burdens.
Users will experience a shift towards digitised and standardised processes, driven by the integration of Connexor with D7. This digital transformation simplifies workflows, reduces manual errors and enhances overall efficiency in financial market operations.
By leveraging Connexor and D7, users can confidently fulfil their regulatory obligations, mitigating the risk of non-compliance and associated penalties.
Users will benefit from reduced complexity as integrating Connexor and D7 minimises the need for maintaining multiple interfaces and systems. This streamlines operations and frees up resources for strategic initiatives.
Users can expect enhanced product lifecycle management processes through automation, facilitated by integrating Connexor and D7. This automation streamlines workflows and accelerates time-to-market for financial products.
SIX Swiss Exchange is an important hub in Switzerland’s financial landscape, offering a robust platform for trading various securities. With access to over 60,000 Equities, Bonds, ETFs, Exchange Traded Products, Sponsored Funds, etc. and a selection of over 250 crypto products, SIX Exchange continues to enable seamless access to international investors and markets, fostering cross-border trading and capital raising opportunities.
Clearstream is a prominent provider of post-trading services in Europe, operating as a wholly owned subsidiary of Deutsche Börse. With a vast repository, Clearstream holds over 300,000 domestic and internationally traded bonds, equities, and investment funds. Strengthening its global presence, Clearstream serves in more than 110 countries and maintains an extensive network covering 59 domestic markets.
The partnership between SIX and Clearstream sets a promising trajectory for the evolution of financial markets. Focusing on digitalisation, standardisation, and regulatory compliance will fuel innovation and efficiency in the industry. As the Connexor-D7 integration unfolds in the latter half of 2024, market participants can anticipate enhanced accessibility and streamlined processes, further solidifying SIX Swiss Exchange’s position as a comprehensive reference data solutions leader.
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