SIX crosses the Atlantic and opens office in the United States

Rick Steves

The new office of SIX SIS USA will be run by René Haag, an international wealth management veteran with experience in both Europe and the United States

SIX has taken a major step forward in its international growth strategy by setting up a US-based entity, SIX SIS USA Inc. as it opens its first office in the United States.

The Financial Market Infrastructure operating the Central Securities Depository (CSD) in Switzerland and Spain has become a very respected brand within the industry as it provides integrated international custody services worldwide.

Its comprehensive high-quality securities services to Banks, Private Banks, Wealth Managers, Broker Dealers and other clients across the global financial sector have helped SIX build a reputation that has only pushed the Group toward business expansion. After acquiring Spanish exchange BME in 2020 for over €2.5 billion, the exchange group has set an eye on the United States.

Javier Hernani, Head Securities Services at SIX, said: “In line with its international growth strategy SIX has now expanded its custody services in the US in order to provide its customers with time zone bespoke support, gather relevant market intelligence across the continent, build up relevant American market know-how and make such know-how available to Swiss, internationally and also locally domiciled clients and prospects.”

Stephan Hänseler, Head of SIX SIS, commented: “This provides the opportunity for US based financial institutions to get access to all European and Asian Markets across a broad range of asset classes with one contractual relationship. SIX’ best-in-class market access models, asset servicing expertise, and integration capabilities, combined with its growing international presence, are the basis for flexible end-to-end securities services tailored to clients’ needs and ensuring highest client experience.

The new office of SIX SIS USA will be run by René Haag, an international wealth management veteran with experience in both Europe and the United States. Prior to the appointment, he was Senior Relationship Manager at SIX.

In regard to Bolsas y Mercados Españoles (BME), SIX has recently announced the progressive migration of BME’s current trading platform to a version of its existing platform, thus establishing the future trading platform technology set-up for both companies.

In a first step, trading and trading-related services for Equities, Equity-like and Fixed Income instruments will be harmonized on the SIX trading platform by extending and optimizing the current SIX capabilities to also address the Spanish market’s needs.

The migration is envisaged to happen between Q4 2022 and Q2 2023 and will create the foundation for the Spanish along with the Swiss market to be established on one of the leading platforms in Europe.

Along the same lines, market data dissemination will be harmonized for both markets. The scope of the trading platform harmonization process does not include derivative instruments.

Read this next

Digital Assets

Binance executives sue Nigerian authorities over rights violation

Two senior executives from Binance have filed a lawsuit against against Nigeria’s national security adviser’s office and its anti-corruption agency, alleging violations of their fundamental rights.

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

<