Six sets out trading platform consolidation plans amid BME's integration

On the 06/04/21 at 2:45PM


Adrien Paredes-Vanheule


Six, the operator of the Swiss and Spanish stock exchanges, is pursuing the integration of Bolsas y Mercados Españoles (BME) it acquired in 2020.

On Friday, the Swiss group announced it will migrate BME’s current trading platform to a version of its existing platform, thus establishing the future trading platform technology set-up for both companies.

It specified the Spanish market will continue to be hosted in Madrid and the Swiss market in Zurich while local regulatory oversight for both markets will be maintained. The move is subject to regulatory approval.

Therefore, Six is planning to harmonise trading and trading-related services for equities, equity-like and fixed income instruments on its trading platform between Q4 2022 and Q2 2023. The scope of the trading platform harmonidation process does not include derivative instruments, said the operator, which will streamline market data dissemination for both markets as well.

Six added that it will consult with Spanish market participants to further refine the scope of the project in order to provide detailed specifications and project plan.

Said Thomas Zeeb, global head of exchanges and member of the Six executive board, “this is an important step in the integration of BME into SIX. Our Spanish and Swiss teams are working closely together on the best approach to this transition and are evaluating how to most effectively support activities and ensure member conversion. This migration ensures that the market gets to benefit from an enhanced trading platform, extended capabilities, new functionalities as well as simplified and improved systems and technology.”

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