The Swiss Stock Exchange will establish new a jointly owned company, RF Nordic Express, in partnership with Nasdaq
SIX, Nasdaq partner to enhance access to microwave technology for data transfer in Europe. (Credit: Pixabay./Adam Radosavljevic)
The Swiss Stock Exchange SIX and the operator of Nasdaq´s Nordic exchanges have signed a partnership agreement to expand the current European microwave network.
The agreement is aimed at improving the access to the most modern market data transmission technology for the benefit of all market participants.
SIX intends to establish new a jointly owned company in partnership with Nasdaq, named RF Nordic Express, to build and operate microwave routes for the transmission of market data from Stockholm to London.
Nasdaq European equities vice president Henrik Husman said: “Technology and innovation are driving forces behind making markets more efficient and we are happy to partner with SIX in bringing faster and more secure transactions to our customers.”
SIX is the owner and operator of largest microwave network in Europe
SIX has become the owner and operator of the large-scale microwave network in Europe, with the acquisition of majority stake in 12H AG, the operator of its microwave network, in early 2020.
Microwave technology would enable the faster transmission of market data between trading centers, as signals travel at the speed of light and relayed through the air in the most direct way possible.
The faster transmission enables Swiss Stock Exchange trading participants to identify the changes in prices and implement investment decisions as rapidly.
In addition, it allows for efficient management of risks and offers benefits for participants and end investors equally, along with improving liquidity.
The network is said to allow all Swiss Stock Exchange trading participants to take advantage of the low-latency market data transmission between Zurich, London, Frankfurt and Milan.
SIX executive board member and securities & exchanges head Thomas Zeeb said: “The new joint-venture marks the extension of this long-standing and successful partnership and is a testament to the innovative nature of the Swiss Stock Exchange.
“It leverages the benefits of microwave technology across Europe to ensure fair and more efficient trading and highlights how the Swiss Stock Exchange deploys breakthrough technology for all market participants.”