Six, a global financial data and market infrastructure provider, today signed a seven -year strategic partnership with Barclays to support the bank’s international development and cost efficiency.
Based on a long-term relationship, the many years of collaboration will see the entire Barclays business-which covers investment banking, retail banking, wealth management and corporate services-to access the huge suite of financial data from six.
In addition, this new collaboration will see Barclays contribute to the product strategy and the development of new data and analytical products and to jointly work together to develop new innovative customer solutions.
The news comes amid a major strategic transformation for Barclays, with the bank focusing on simplifying and boosting its three basic businesses, while reducing £ 2 billion pounds, will cost by 2026.
Meanwhile, Barclays’s strong presence in key areas, such as the US and Asia, are in line with the business model of six, supporting its plans to accelerate expansion and strengthen its presence in these markets. The partnership also comes after six began two expansive new market data offers in the first half of the year – six fixed income data and digital assets and tax service.
Marion Leslie, head of financial information and a member of the Executive Board, six, said:
“We are excited that six will continue to play such a central role in Barclays’s impressive history of growth, as banks are facing huge pressure to limit spending amid an increasingly uncertain economic environment, evaluating the smartest economic data and the most smarter economic data.
Georges Lauchard, world markets and wholesale COO borrowing at Barclays, added:
“Six has been a valuable Barclays partner in recent years and it will continue to be in this incredibly exciting capital of the company’s development.