Joining the consortium of Contineo as a strategic partner and investor is a first major step towards the internationalization of the CONNEXOR® service. The geographic expansion is intended to standardize processes along the value chain and the life-cycle management of structured products internationally. This allows shareholders and clients of SIX to utilize their established set-ups already used in local markets also outside of Europe and thereby benefit from synergies and scale in return. Contineo’s network of issuers, private banks and wealth management firms benefits from the long established infrastructure experience of SIX in order to grow the Asian market for structured products.
Christoph Landis, Division CEO SIX Swiss Exchange, commented: “Today, we are very proud to announce the internationalization of CONNEXOR® and happy to see that more market participants around the world will enjoy the efficiency gains that our unique offering has already provided reliably to the Swiss marketplace.”
Mark Muñoz, CEO of Contineo, commented: “This new partnership confirms our core principles of operating an open and shared network that benefits all financial institutions by reducing cost and increasing efficiency.”
CONNEXOR® is a high-performance infrastructure for financial products data. It offers market participants a series of services throughout a financial instrument's entire life-cycle and supports the fulfillment of regulatory obligations such as MiFID II or IRS 871(m). The central, standardized capture and maintenance of product data simplifies workflows and reduces the number of interfaces. As a result issuers, data vendors and data recipients benefit from substantial efficiency advantages.
Contineo is the first industry supported, open trading platform for private banks and wealth management firms to access issuers of structured products. It launched in January 2015 with the backing of most of Asia-Pacific's key structured products houses and has built up a strong issuer base. Besides SIX, its current shareholders include AG Delta, Barclays, BNP Paribas, Goldman Sachs, J.P. Morgan, HSBC, and Societe Generale.
More information: www.six-swiss-exchange.com/connexor
SIX operates the infrastructure underpinning the Swiss financial sector and offers a comprehensive range of services around the world in the fields of securities trading and settlement, financial information and payment transactions. The company is owned by its users (approximately 130 banks of various orientation and size). Its workforce of over 4,000 employees and presence in 25 countries throughout the world generated operating income of CHF 1.8 billion and a Group net profit of CHF 221.1 million in 2016.
Contineo is the first industry supported, open messaging network for private banks and wealth management firms to access issuers of structured products. It is also the first firm to offer structured product data feeds, illuminating this previously opaque market for the very first time. Together we are a community with a shared vision and purpose.
We believe that technology should be intuitive, easy to access, and available to all participants. This means creating an open messaging standard in concert with the buy-side and sell-side, and enabling access to all parties, including other certified technology vendors.
This mission is shared by our current subscribers, who recognise the importance of an open, efficient and transparent network.