Swiss stock exchange operator SIX Group AG will bring its digital assets division SDX in-house, ending the brand’s separate identity and integrating its operations into the group’s main exchange and post-trade division.
SIX Group, which operates the Swiss and Spanish stock exchanges, will transfer SDX trading, settlement and custody operations to its main business. SIX’s main exchange will process trades, while clearing and custody will be transferred to its post-trading arm, SIX Securities Services.
Transferring SIX and SDX trading and storage to major exchange units
“We’ve seen a lot of innovation happening in the post-trade space, and we wanted to integrate digital asset capabilities across our securities services, starting with custody,” said Marco Kessler. SIX’s head of product and business development for digital assets explained that the company aims to create an integrated and robust platform that can manage the entire lifecycle of any asset.
SIX claims that using a single connected system will help digital asset businesses grow faster, making it easier for banks, asset management companies, and other financial institutions to adopt blockchain technology. These institutions will now have access to the same reliable systems they already use. At the same time, the new structure will enable the company to offer all digital asset services under one roof, including token issuance, trading, and custody.
SIX also said it will maintain partnerships with large financial institutions that are testing blockchain in their operations. The company is working with Banque Pictet & Cie SA and Citigroup Inc. to transform traditional assets such as bonds and stocks into digital tokens that can be more easily traded.
These projects will continue under the company’s post-trade arm, SIX Securities Services, as SIX already has extensive experience in secure payments and custody and operates under Swiss regulatory standards that protect investors and maintain market stability.
SIX builds a strong foundation for blockchain and tokenized assets
SIX became one of the world’s first major exchange operators to launch a fully regulated platform for digital assets in 2021 with the introduction of SIX Digital Exchange (SDX). The platform provided the foundation for the trading, settlement, and custody of tokenized securities, allowing financial institutions to issue and manage these assets through a reliable and secure process that adheres to the same rules as traditional markets.
Since its inception, SDX has issued digital bonds worth CHF 2.5 billion (approximately $3.1 billion).
Industry observers believe this transition to tokenized assets will transform the global financial system. Robinhood CEO Vlad Tenev recently said that “tokenization is a freight train” that will transform finance everywhere. In June, Robinhood used blockchain technology to allow users to trade digital versions of their own stocks and their tokenized shares in Europe.
Citigroup and SIX announced in May that they would collaborate to leverage SDX’s technology to tokenize, settle and secure assets, including late-stage pre-IPO stocks.
SIX is also working with the Swiss National Bank (SNB) on the Wholesale Central Bank Digital Currency (CBDC) pilot, one of the world’s most advanced digital currency experiments. The project is testing how banks can use digital versions of central bank currencies to settle transactions directly on the blockchain, and is expected to extend until at least June 2027.
SIX will provide technology and infrastructure for the project and, in collaboration with the SNB, aims to create a faster and more reliable way for banks to move funds and assets across borders.
