Switzerland’s leading stock exchange, SIX, announced it has formed a partnership with San Francisco-based institutional solution Omniex to provide SIX and its subsidiary, The SIX Digital Exchange (“SDX”), with access to cryptocurrency markets.
The partnership will provide a gateway to digital exchanges (including cryptocurrency exchanges) and OTC market makers worldwide for SIX and its clients. It also create the basis for new business opportunities along the value chain of existing and future asset classes.
The collaboration will allow clients of SIX to get a standardised and secure access to trade crypto currencies. As part of the partnership, SIX will become a shareholder in Omniex.
“With SDX as the digital exchange infrastructure in development, the collaboration with Omniex to deliver the front end for clients, both for existing crypto currencies, as well as in future for SDX-listed assets, is an important addition to the digital ecosystem,” Said Thomas Zeeb head of securities, SIX.
With a market cap of more than 1 trillion Swiss francs (just over US$1 trillion) in January 2020, SIX is Switzerland’s principal stock exchange. It has listed a series of exchange-traded products (ETPs) that provide exposure to cryptocurrencies in a familiar and regulated tracker product.
In September 2019, SIX deployed an SDX prototype to demonstrate settlement using distributed ledger technology, security token issuance, and live trading. SIX currently plans to conduct an “Initial Digital Offering” for SDX during mid-2020, before launching the digital asset exchange during the fourth quarter.