12H will combine the global resources and expertise of SIX, and all assets of 12Horizons. This includes radio-frequency routes from Zurich to London, Frankfurt and Milan as well as between London and Milan and Frankfurt and Milan. This low-latency network allows trading participants of SIX as well as clients of 12Horizons fast execution of trading strategies as well as quick and efficient risk management.
In line with the mandate of SIX Swiss Exchange, the joint venture will provide trading participants from around the world with equal access to its offering, enabling them all to enjoy the same benefits. Equal treatment of all participants in their stock exchange activities is ensured at both regulatory and technical levels.
All current clients of 12Horizons will be taken over by 12H. The services of the joint venture will be integrated in the portfolio of SIX. The new company will be based in Zurich, Switzerland, and is expected to be established in the first quarter of 2018. Subsequently, SIX will be responsible for the customer relationships for 12H.
With this joint venture, SIX underlines its commitment to introduce cutting-edge trading technology to cater to the needs of its clients looking for low latency solutions. Furthermore, it represents each organization’s strong commitment to provide customers with a single source for the best low latency services from and to Zurich.
Christoph Landis, Division CEO Swiss Exchange, commented: “Over time, SIX repeatedly took a pioneering role in the development of electronic trading to leverage the most advanced technology into its unique market structure. As a key pillar of the Swiss financial sector's infrastructure, SIX helps create the best possible trading conditions in order to attract liquidity in Swiss securities and strengthen its position as their reference market.”
Reinier Fliehe Boeschoten, sales manager of 12Horizons and designated Managing Director of 12H, commented: “This joint venture gives 12Horizons and SIX the opportunity to combine their setups and therefore provide innovative new services to lower latencies even further creating a service that cannot be matched.”