INTERNATIONAL: SIX and Nasdaq Partner to Provide Greater Access to Market Data

Tuesday April 7 2020

On 7^th April 2020, the Swiss Stock Exchange (SIX) and the operator of Nasdaq´s Nordic exchanges have signed a partnership in the first quarter of 2020 to expand the current European microwave network, fostering equal access to the most modern market data transmission technology for the benefit of all market participants.

The Swiss Stock Exchange has announced that it is to establish a jointly owned company with Nasdaq. The new company RF Nordic Express AB will build and operate microwave routes for the transmission of market data from Stockholm to London. Having taken a majority stake in 12H AG – the operator of its microwave network – earlier this year, SIX now owns and operates the largest microwave network in Europe.

This network allows all Swiss Stock Exchange trading participants to benefit from low-latency market data transmission from Zurich to London, Frankfurt and Milan as well as from Milan to Frankfurt and London. The parties have agreed not to disclose the amount of the investments.

Microwave technology enables the fastest transmission of market data between trading centers. Signals are travelling at the speed of light and relayed through the air in the most direct way possible. This enables Swiss Stock Exchange trading participants to identify price movements and implement investment decisions as quickly as possible.

As a result, risks can be managed more efficiently which benefits participants and end investors alike. It also improves liquidity and tightens spreads, which results in better execution for everybody trading Swiss securities on the Swiss Stock Exchange.

Equal access to the microwave network is ensured for all trading participants at both regulatory and technical levels, in line with Switzerland’s legal framework. The Swiss Stock Exchange not only ensures the stability and availability of its trading infrastructure but makes the most modern technology accessible to all its participants by partnering with leading technology providers.

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