SIX joins Contineo as strategic partner and investor
“Our success was built on a consortium framework that allows top tier institutions to join together to build a utility service that drives costs down and creates market efficiencies,” he said. “The commitment from SIX embodies our core principals of operating an open and shared network that benefits all financial institutions.”
Christoph Landis, Division CEO of SIX’s Swiss Exchange, added: “We are very pleased to bring our European leadership and experience to Asia through Connexor, our high-performance infrastructure for product data. We are looking forward to working with the leading structured product network in this region.”
“SIX brings new technology, expertise in the European structured product market and an important new business opportunity,” Munoz added. “Over the last year we’ve more than doubled the number of private banks and issuers on our network, enabling us to extend our post-trade data capabilities. SIX is a leading exchange provider in Europe and we look forward to incorporating their best in class features into our offering.”
SIX internationalizes its product data platform CONNEXOR
Today, SIX announced its new strategic partnership with Contineo, a Hong Kong based leading trading platform for structured products in Asia. SIX will support the standardization of the Asian structured products market by providing its high-performance product life-cycle infrastructure CONNEXOR in the first half of 2018. This offers synergies and scale opportunities to its shareholders, clients and the Asian market.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 Munoz, 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 an 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.
SIX Swiss Exchange partners with Hong Kong trading platform Contineo
Connexor provides a range of services over the complete life cycle of a financial instrument and enables to meet regulatory obligations such as IRS 871(m) or MiFID II.
The centralized, standardized collection and maintenance of product data allows to simplify workflows and decrease the number of interfaces, providing issuers, data vendors and data recipients with better service.
SIX is expanding the Connexor service to standardize processes along the value chain and the lifecycle management of structured products across the globe.
From the first half of 2018, Connexor life cycle management infrastructure will be available to the customers in the Asian market.
The service allows SIX Swiss Exchange’s shareholders and clients to use set-ups from outside of Europe.
Contineo’s network of issuers, private banks and wealth management firms can also use the infrastructure of SIX to expand structured products of Asia market.
SIX Swiss Exchange division CEO Chris Landis said: “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 platform has already provided reliably to the Swiss marketplace.”
Contineo CEO Mark Munoz said: “This new partnership confirms our core principals of operating an open and shared network that benefits all financial institutions by reducing cost and increasing efficiency.”
Contineo is an industry supported and open messaging network, which interacts private banks and wealth management firms with issuers of structured products.
Contineo Expands Post-Trade Service with SIX and doubles subscribers
Christoph Landis, Division CEO SIX Swiss Exchange, said the company was excited about the new opportunities in Asia. “We are very pleased to bring our European leadership and experience to Asia through CONNEXOR, our high-performance infrastructure for product data,” he said. “We are looking forward to working with the leading structured product network in this region.”
As a strategic investor, SIX joins Contineo’s other shareholders including AGDelta, Barclays, BNP Paribas, Goldman Sachs, J.P. Morgan, HSBC, and Societe Generale.
Contineo will integrate SIX’s CONNEXOR, providing additional functionality to existing Contineo clients to better serve their relationship managers and adhere to regulatory requirements. Mr. Munoz said the partnership would enhance Contineo’s post-trade processing, enhancing user experience.
“SIX brings new technology, expertise in the European structured product market and an important new business opportunity,” he said. “Over the last year we’ve more than doubled the number of private banks and issuers on our network, enabling us to extend our post-trade data capabilities. SIX is a leading exchange provider in Europe and we look forward to incorporating their best in class features into our offering.”
For interviews with Mark Munoz:
Kristin Westlake, The Continuum Partners kwestlake@thecontinuumpartners.com
+61 416 219 358
ABOUT CONTINEO
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.
ABOUT SIX
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 221.1million in 2016.