CONNEXOR was launched on 31 August 2009 as a comprehensive enhancement of IBT1. Thanks to CONNEXOR, it was possible for the first time to centrally record reference data, to validate their contents, and to distribute them electronically to all stakeholders - promptly, without any media breaks and in standardized quality. This made the admission process for financial instruments much more rapid.
Markus Gutzwiller, Head Issuer Services SIX Swiss Exchange, says that "with CONNEXOR, SIX completed important pioneering work in the field of lifecycle management of financial instruments, creating during the last five years considerable added value for the entire financial center in Switzerland."
Significant increase in volume
The infrastructure currently includes six different services to administer reference data of financial instruments and trigger post-trade processes for the management of securities. At present, CONNEXOR processes annually nearly 6 million termsheet updates of 34'000 structured products. As a comparison, five years ago, just 550 updates of 21'000 products were handled. During the same period, the number of covered data attributes doubled to 512 today.
A look into the future
SIX intends to continuously expand the platform with new services. For example, services in connection with the fulfillment of new regulatory requirements will be added in the future, and there are also plans to extend the platform to other exchange segments.
Globally unique reference data standard
With CONNEXOR, SIX is able to solve challenges in the management, processing and use of event and reference data across the entire lifecycle of a financial instrument. This enables it to offer more efficiency, better quality and improved transparency to every participant in the value chain. CONNEXOR includes numerous services for companies, issuers and data vendors.