Swiss Stock Exchange Operator 6 Group AG provides its digital assets division SDX in-house, ending the brand’s independent identity and consolidating its operations into the group’s main exchange and post-trade units.
Six groups operating stock exchanges in Switzerland and Spain will move SDX trading, settlement and custody activities into key businesses. Six’s main exchange processes the transaction, but the settlement and custody moves to six securities services, the post-trade unit.
Move SDX trading and custody six times under the main exchange unit
Marco Kessler said, “We’ve seen a lot of innovation happen in the post-trade sector, and wanted to integrate digital asset capabilities across securities services, which began with custody.” The six-year-old head of digital asset product and business development explained that the company aims to create a unified, robust platform where it can manage the entire lifecycle of all assets.
It claims that using a single connected system will speed up the growth of digital asset businesses and enable banks, asset managers and other financial institutions to adopt blockchain technology. These institutions will be able to utilize the same reliable systems they already rely on. At the same time, the new structure allows the company to provide all digital asset services, including token issuance, trading and storage under one roof.
Six also said they would maintain partnerships with major financial institutions testing the blockchain of their businesses. The company is working with Banke Pictet & Cie SA and Citigroup Inc. to convert traditional assets such as bonds and stocks into digital tokens that are easier to trade.
These projects will continue under six securities services, six post-trade sectors. It operates under Swiss regulatory standards, where six are already familiar with secure settlements and custody, protecting investors and maintaining market stability.
Six builds a stronger base for blockchain and tokenized assets
Six became one of the world’s first large-scale exchange operators with the introduction of six digital exchanges (SDX) in 2021. The platform provided a foundation for trading, settlement and conservation of tokenized securities, allowing financial institutions to issue and manage these assets through reliable and secure processes that comply with the same rules as traditional markets.
Over 2.5 billion Swiss francs (approximately $3.1 billion) of digital bonds have been issued since SDX.
Industry observers believe this transition to tokenized assets will transform the global financial system. Robinhood CEO Vlad Tenev recently said, “Tokenization is a freight train.” In June, Robinhood allowed users to trade digital versions of corporate stock using blockchain technology and European tokenized stocks.
Citigroup and six members announced in May that they would be working together to tokenize, resolve and protect assets, including stocks before the late stages, using SDX technology.
Six also collaborate with the Swiss National Bank (SNB) with Wholesale Central Bank Digital Currency (CBDC) pilot, one of the world’s most advanced digital currency experiments. The project tests how banks can use the digital version of central bank money to resolve transactions directly on the blockchain, and is extended until at least June 2027.
Six will provide the technology and infrastructure for this project, and together with SNB, aims to create a faster, more reliable way for banks to move money and assets across borders.
