SIX today announced its partnership with Clearstream for SIX’s Connexor service to become a D7 Digital Market Partner for the processing and distribution of financial instrument reference data.
SIX will connect its flagship reference data, the Connexor, to the D7. D7 is Deutsche Börse’s post-trade digital platform for the digitization of financial instruments, enabling the issuance of electronic securities, operating under the German eWpG regulation.
This move comes in response to a regulatory directive as well as market needs for standardization, representing a major leap towards a digital and efficient future for financial markets.
The partnership between SIX and Clearstream expands SIX Swiss Exchange’s position as a one-stop shop for international reference data processing in Europe and Asia, offering access to a holistic solution to issuers and financial institutions in different countries and jurisdictions. The initiative contributes to the digitization and standardization of processes in the European financial market. The result is regulatory compliance, reduced complexity and minimized maintenance-intensive interfaces, standardized and higher quality reference data through reduced media breaks, and improved product lifecycle management through automation.
The connection between Connexor and D7 will be temporarily activated in the second half of 2024, providing market participants with a single access point to fulfill their regulatory obligations.
André Buck, Global Head Sales & Relationship Management, SIX Swiss Exchange, said:
“The new partnership fills us with great pride. This is because it is based on years of evolutionary innovation as an infrastructure provider. Through Connexor and D7, we enable our customers to benefit significantly from this partnership.”