SIX and Aquis have recently announced that Aquis Technologies has now been selected as the technology provider for the ongoing implementation of a harmonized trading platform for SIX. The newly described implementation of a shared trading platform across all of the exchanges that are being operated by SIX – such as the SIX Swiss Exchange, BME Exchange and Aquis – will aim to facilitate a “unified experience” for clients.
With a more harmonized ‘one plug, multiple trading venues’ connection, clients may take advantage of accessible trading solutions, improved market access and, potentially greater liquidity.
The exchanges are to be run across the ‘Aquis Equinox’ matching engine: a digital tech solution that is presently underpinning different exchanges and trading platforms globally, including Aquis, that provides high availability, resiliency and fault tolerance, low latency and 24/7/365 continuous uptime capability.
Based on Aquis’ technology, SIX is reportedly building a pan-European platform offering harmonized access to clients who are based across SIX platforms, cementing its market position as an exchange service provider.
Aquis’ tech offering has built steady momentum as of late. An increasing number of FIs across the globe are being powered by Aquis tech and with SIX one of the largest primary exchange groups based in Europe.
As exchange development teams, SIX and Aquis continue to build on this basis by expanding its tech business in the coming years.
Tomas Kindler, Global Head Exchanges & Executive Board Member, SIX, said: said that harmonizing all their platforms via Aquis’ so-called regulatory grade technology represents a key milestone for SIX as well as a “leap in our evolution as a pan European exchange innovator.”
Kindler explained that with the concept of ‘One Plug, Multiple Trading Venues’, their existing participants in the Swiss and Spanish markets should be able to benefit from a better trading system, delivering functionalities and access to investment opportunities in multiple markets with “one harmonised connection standard to their multiple trading platforms.”
According to Kindler, this harmonization will aim to considerably lower operational complexity and provide their participants with a seamless trading experience and access to services via “some of the most advanced trading technology available today.”
David Stevens, CEO, Aquis, said that the decision by SIX – one of Europe’s exchange groups – to ,leverage Aquis’ technology reinforces “the strength and capability of the Aquis matching engine and related services.”
Stevens added that alongside their ongoing work to build an industry-leading harmonized platform for SIX exchanges, they are eager “to continue expanding their technology offering and client base in the coming years.”
SIX chose Aquis as the technology provider after a multi-stage selection process involving several vendors, and joint development work has “commenced with strong momentum.”
The new platform for equity and equity-like products is set to launch in 2027, with various other asset classes expected to follow in the foreseeable future.
SIX is working with regulatory authorities in order to acquire the relevant approvals and clearances, ensuring that all “required authorizations are in place for further enhancing the trading experience for clients across Europe.”