Today, SIX Swiss Exchange and 12Horizons Pte Ltd have announced a joint venture. It will operate under the name of 12H AG (“12H”) and provide low-latency access for Swiss securities trading via radio-frequency technology. Compared to e.g. fibre technology, radio-frequency technology facilitates a significant faster transmission of data. This joint venture underlines the commitment of SIX Swiss Exchange 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.
Strong commitment for low-latency service 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.”
12H will combine the global resources and expertise of SIX Swiss Exchange, and all assets of 12Horizons. This includes radio-frequency lines 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 Swiss Exchange as well as clients of 12Horizons fast execution of trading strategies as well as quick and efficient risk management.
Ensuring equal treatment
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.
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. As a result, SIX Swiss Exchange will be responsible for the customer relationships of 12H. All current clients of 12Horizons will be taken over by 12H.
A long tradition of introducing cutting-edge technology
In April 2012, SIX Swiss Exchange was the first exchange in the world to implement X-stream INET, the world’s most advanced trading technology at the time. And back in December 1995, SIX Swiss Exchange was the first stock exchange worldwide to introduce an electronic system that integrated order input, trading, settlement, processing and custody of securities.
SIX Swiss Exchange offers outstanding liquidity across a wide range of attractive trading segments. For new participants, we guarantee a simple and transparent “onboarding” procedure that under ideal circumstances is completed within the space of four weeks. Find out more on our website and in our participants factsheet[PDF].