Piraeus Bank taps SIX multi-asset connectivity to expand securities trading in Greece

Rick Steves

“Based on SIX’s multiplicity of connectivity patterns along with an enhanced multi-asset servicing model, and market-surveillance, SIX and Piraeus Bank join forces in a time of continuous industry change to ensure the highest level of performance for Piraeus Bank and its clients.”

Greece

SIX has announced it has partnered with Piraeus Bank as part of its efforts to expand its presence in the Greek market and the broader region.

Given its strong position in the global post-trade value chain along with its business model flexibility, this new partnership will create joint value and support Piraeus Bank’s growth plan.

The Swiss exchange operator operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers.

The company is owned by its users (120 banks). With a workforce of 4,044 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 185.0 million in 2022.

“Combined strengths in the traditional and innovative securities services space”

SIX will provide Piraeus Bank with solutions to elevate the competitive value and support the growth of its Greek clients as the bank looks to scale its operation and enhance its multi-asset class capabilities with additional connectivity and market surveillance in order to stay ahead of the curve in regard to the European securities space.

Javier Hernani, Head of Securities Services and SIX Executive Board Member, said: “Our individualised global market access, is designed to empower Piraeus Bank’s business functionality in all asset-classes and scale of operation. Based on SIX’s multiplicity of connectivity patterns along with an enhanced multi-asset servicing model, and market-surveillance, SIX and Piraeus Bank join forces in a time of continuous industry change to ensure the highest level of performance for Piraeus Bank and its clients.”

Christos Megalou, CEO Piraeus Financial Holdings, said: “We are looking forward to this key agreement with SIX, an innovative global infrastructure. Together, we will leverage our combined strengths in the traditional and innovative securities services space. Our partnership will create value and bring more opportunities for both organisations. Joining forces with SIX will support our market expansion strategies and maximize value for our shareholders”.

Piraeus went live with Scila’s market surveillance in 2022

In 2022, Scila and Athens Exchange Group partnered to offer a SaaS solution based on Scila Surveillance for both Buy and Sell side members of the Athens exchange. Piraeus Securities S.A. was the first customer of the new service to go live.

Real-time market surveillance is a critical tool within the trading industry of today and Scila AB, the Stockholm-based provider of surveillance, risk & anti-money laundering technology has been leading this field for many years now. The solution has been deployed at customer sites in more than 20 countries.

Through the partnership between Scila AB and the Athens Exchange, a longtime customer, and partner in the region since 2014, all exchange members can get access to the SaaS solution.

The service comes with a set of functionalities specifically configured for the Athen Exchange Group making it easy for members to keep abreast with evolving compliance requirements. Deployment time for a member is minimal due to the pre-configured and web-based solution, according to the firm.

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