SIX plans to adopt a new organizational structure to support its growth plans in the international capital market infrastructure (CMI) area by combining its exchange-related businesses in a new “SIX Exchange Group” entity by end of 2022.
The entity will operate under the SIX Group holding umbrella, alongside the “SIX Banking Services” unit and the Worldline participation, with current ownership and governance remaining unchanged.
By consolidating SIX’s “Exchanges”, “Securities Services” and “Financial Information” business units under the roof of the new “SIX Exchange Group”, these exchange-related businesses will gain more flexibility to capture market opportunities in the CMI area and develop a strong profile internationally. At the same time, the “SIX Banking Services” businesses can continue to concentrate fully on providing critical solutions in the interest of the Swiss financial center.
The new structure will also allow both business areas to further adapt their organizations for better customer focus, additional synergies and further margin improvements. In this context, and as part of the consolidation of the exchange-related businesses, the existing business units will be further optimized over the coming months.
The new organisation is planned to take effect by the end of 2022, subject to regulatory notifications and approvals. The “SIX Exchange Group” entity will operate under the SIX Group holding umbrella, alongside the “SIX Banking Services” unit and the Worldline participation. The current SIX ownership structure, encompassing around 120 banks in Switzerland, as well as the board and management of the Group and the individual businesses will remain unchanged.
With this organizational realignment, SIX takes a further step in implementing its strategy focused on the core businesses. It also reflects that SIX is active in two very different business areas:
- In its domestic market, SIX is the leading provider of banking and payments services which are central to the functioning of the Swiss economy – including payment solutions, ATM and cash solutions, services relating to debit card-based and mobile transactions as well as the Swiss Interbank Clearing system SIC. In this “SIX Banking Services” business, SIX will continue to focus on uninterrupted availability, efficiency, innovative technology and service enhancements for its Swiss banking clients, while actively developing the business, together with the banks, in the interests of Swiss and international customers.
- At the international level, SIX provides state-of-the-art CMI services with its exchange-related trading, post-trading and financial information offering, now to be combined under “SIX Exchange Group”. In this competitive business, it is SIX’s stated strategy to achieve further growth by adding scale, driving innovation and enhancing customer orientation along the entire value chain. Examples of this strategic direction include the acquisition of Spanish Exchange Group BME in 2020 and, most recently, the launch of the world’s first regulated digital exchange in November 2021.