SIX makes DocHub available to wider Swiss financial market through Finnova

Maria Nikolova

Via DocHub, over 100 Swiss banks utilising Finnova’s core banking software will be able to get access to documentation they need to remain compliant with FinSA.

Swiss financial data expert SIX is extending the DocHub platform reach through Swiss provider of software and services Finnova. As of today, DocHub, the Regulatory Document Hub from SIX, is available to the wider Swiss financial market thanks to Finnova.

DocHub is a fully automated platform that connects product manufacturers with distributors to ensure Key Information Documents (KIDs) and other regulatory documents are available digitally, are up-to-date and correct, in clients’ e-banking and core banking systems. It is one of the largest document platforms available in the financial market, covering 6.5 million instruments through over 30 million documents from more than 950 manufacturers.

Via DocHub, more than 100 Swiss banks utilising Finnova’s core banking software will now be able to get access to documentation they need to remain compliant with FinSA, the Swiss regulatory counterpart of PRIIPs and MiFID II Investor Protection. Banks with access to DocHub will have a competitive advantage, meeting the requirements of recent and future investor protection regulations with one platform.

The expansion of this partnership follows a longstanding working relationship between SIX and Finnova, with both entities signing a partnership agreement to formalise the integration of the DocHub platform and further support their clients’ needs.

Dr. Ralf Rühling, Senior Product Manager, Financial Information at SIX, commented:

“With regulatory pressure on Swiss banks constantly growing, the need for better access to correct and up-to-date key investor protection documents has never been greater. We are delighted to offer DocHub to a larger number of Swiss banks through our long-time partner Finnova. With our DocHub platform connected to Finnova, Swiss banks will have access to a deep pool of up-to-date documents that will be fully integrated and automated into their client advisory systems. This will be crucial in cutting down on their administrative burden to remain compliant, allowing them to focus on their core business.”

Dejan Pilav, Product Manager Compliance, Finnova, added:

“We are proud to build upon our existing partnership with SIX by providing our core banking software clients with access to DocHub. This innovative documentation platform will allow clients to take steps towards being compliant faster and easier. An important factor for our clients is that there is no additional set-up required on their side, allowing them to make full use of the benefits of DocHub while avoiding any additional risk or administrative costs.”

Read this next

Institutional FX

ATFX uses blockchain to help clients verify IBs and vice versa

ATFX said it has been working on the IB verification project for a few months.

Industry News

Research market in dire straits as SEC’s ‘no-action’ letter on MiFID II lapses in June – survey

“Of all the regulatory news that has hit the research market in the last few months, this is the one change that will fundamentally impact what fund managers can access and pay for in future.”

Executive Moves

Wombat appoints ex-abrdn Richard Charnock as UK platform turns to Europe

Launched in 2019, Wombat provides a dedicated mobile investing platform – available on both iOS and Android – offering users both range and choice.

Institutional FX

Broadridge integrates Point Focal’s pre and post-market reports

“Point Focal provides a unique lens on the market which will help add alpha to the trading process and these new insights will rapidly improve performance while mitigating execution risk and simplify trading.”

Technology

XCritical integrates with Brokeree Solutions, allowing its clients to launch copy trading 

The forex software provider – XCritical, has integrated Social Trading by Brokeree Solutions into their CRM system.

Industry News

HKEX partners with Saudi exchange for cross listings, ESG, Fintech

“The Kingdom of Saudi Arabia, and the broader Middle Eastern region, are one of the world’s most dynamic and exciting economic and innovation hubs and also home to some of the fastest growing investor groups in the world. Hong Kong and HKEX’s markets offer significant opportunities for international investors and corporates, including unrivalled connectivity to the Mainland Chinese markets through our unique Connect programmes. This agreement signals the beginning of even greater collaboration between our companies and our home markets, and we look forward to exploring many future areas of cooperation.”

Executive Moves

CMC Markets Connect relocates APAC team led by Peter Foster to Singapore

“Singapore is a vibrant city and is now undoubtedly seen as Asia’s leading financial hub. The decision to bolster the CMC Markets Connect team here will help us cement the company’s position as a leading provider of multi asset liquidity and comprehensive trading solutions across the region.”

Retail FX

Italian watchdog red flags Olympus Brokers, UnicoFX and Allfina Group

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

XTB revenues hits zł1.45 billion in 2022, Q4 earnings disappoint

Poland-based Forex and CFDs broker, XTB has reported its final results for Q4 of 2022 and the full fiscal year ending on December 31, 2022, showing one of its most successful corporate years.

<