INTERNATIONAL: SIX to Integrate SIX x-clear and BME Clearing into One International and Multi-Asset CCP

Thursday December 4 2025

On 4^th December 2025, SIX Swiss Exchange (SIX) announced that it operates two Central Counter Party (CCPs), SIX x-clear in Switzerland and BME Clearing in Spain. Currently, the two clearing houses collaborate but maintain separate local entities and systems. As a unified clearing house, SIX Clearing, as it will be named, will gain scale, optimize processes and create a foundation for growth in all segments.

The acquisition of BME by SIX laid the foundation for a pan-European growth platform and strengthened SIX’s position in EU capital markets. The unified CCP is designed to enhance resilience, efficiency and competition across European financial markets.

The interoperability links and functions of SIX x-clear will be transferred to the consolidated CCP, making the new CCP a true pan-European interoperable cash equity CCP. SIX Clearing will continue to promote the adoption of interoperability across Europe to enhance efficiency in European financial markets. The existing EU license under BME Clearing will give SIX Clearing access to European Central Bank (ECB) EUR liquidity, T2 and T2S and other EU relevant regulated markets and MTFs.

The combined CCP will bring together SIX x-clear’s interoperable pan-European cash equity model with BME Clearing’s multi-asset strengths, creating a scaled, open and competitive alternative for clearing across asset classes in Europe.

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