SIX Building, Hard Turm Park, Zurich
SIX, the financial services provider that operates the infrastructure of the Swiss Stock Exchange, is building a fully integrated trading, settlement and custody infrastructure for digital assets. The first set of services will be rolled out in the first half of 2019, the firm said on Friday.
The move aims to position the firm as a pioneer in the digital asset trading industry as it will make it the first established, regulated financial player to set-up such an exchange.
The planned “digital asset ecosystem,” called SIX Digital Exchange, intends to meet market demands for a safe and regulated venue for issuing and trading of digital assets. Mainly based on distributed ledger technology (DLT), the platform will also allow for the tokenization of existing securities and non-bankable assets, making previously untradeable assets tradable.
SIX claims it will be the first market infrastructure in the world to offer a fully integrated end-to-end trading, settlement and custody service for digital assets.
Jos Dijsselhof, CEO of SIX
“This is the beginning of a new era for capital markets infrastructures. For us, it is abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry,” said Jos Dijsselhof, CEO of SIX. “The financial industry now needs to bridge the gap between traditional financial services and digital communities. This is the role that we at SIX can play.”
The fact that SIX runs the entire securities and payments value chain for Switzerland, makes it ideally positioned to create “the digital ecosystem for the future,” Dijsselhof said. “These are strengths that we can bring to the digital space and contribute meaningfully to what is one of the most innovative and dynamic environments of our time.”
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