SIX Terravis, SIX’s digital platform for the mortgage market, is contributing to the planned expansion of the Swiss National Bank’s (SNB) liquidity provision framework for the banking sector.
Recent experiences show that banks of all sizes and “with different business models can find themselves in situations where they need a lot of liquidity very quickly.”
To address this situation more effectively, the SNB plans “to accept mortgages secured by register debt certificates as collateral for liquidity provision.” In doing so, it is relying on the Terravis system “for the fiduciary management of register debt certificates.”
SIX provides the necessary infrastructure and technology “to safely and efficiently process the SNB’s liquidity provision.” The Terravis system allows information “on mortgage claims and the associated register debt certificates to be managed in a central system and securely transmitted to the SNB.”
The SNB has developed “a standardized, automated, and scalable collateralization process with SIX, which is being implemented by SIX Terravis.”
Walter Berli, Head Terravis, said:
“We are pleased that we can support the SNB in this important project. With its digital platform and expertise in mortgage financing, SIX Terravis is the ideal partner for this project.”
As covered, SIX explains that it “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 centers.”
The company is reportedly owned by its users (120 banks).
With a workforce of 4,044 employees and a presence in 20 countries, it claims to have generated operating income “of CHF 1.5 billion and Group net profit of CHF 185.0 million in 2022.”
In other recent updates, SIX reveals that it has “appointed Bjørn Sibbern as Global Head Exchanges and Member of the Executive Board of SIX, due to take up the position on 1st January 2024.”
Currently serving as Executive Vice President and President of European Markets at Nasdaq, he boasts more than two decades’ experience “operating across capital markets.
He will replace Christoph Landis, who has “headed up the exchange business of SIX on an interim basis since February 2023.” Landis will return “to his previous role as Head IT and member of the SIX Executive Board.”