SIX Digital Exchange opens its doors to EURO denominated bonds
SIX Digital Exchange (SDX) has received regulatory clearance by FINMA to support the issuance, trading and settlement of bonds denominated in EUR.
The service will be live on 1st of February 2023 for all members of SDX.
Issuers will be able to make use of this service to issue EUR denominated bonds under Swiss law, opening up new possibilities for market participants in the digital asset space. SDX members trading in bonds issued and settled in EUR can now also benefit from atomic trading and settlement via SDX-CSD, the first regulated CSD based on DLT. Members of SDX-CSD will be able to initiate a tokenization and de-tokenization of tEUR (tokenized EUR) through a connection to euroSIC. The process is similar to existing processes for tCHF.
David Newns, Head SDX, noted “With this step, SDX once again underscores its pioneer status in the digital asset space. We are harnessing distributed ledger technology for future service offerings which are now attractive and applicable to the EUR market. These are truly exciting times!”
SDX is licensed by Switzerland’s financial market regulator, FINMA, to operate an Exchange and a Central Securities Depository (CSD). SDX offers issuance, listing, trading, settlement, servicing, and custody of digital securities. SDX is committed working with partners, members, and clients to promote and build out a new market structure for digital assets globally.
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centres. The company is owned by its users (120 banks). With a workforce of 3,685 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 73.5 million in 2021. www.six-group.com