SIX Securities Services – through SIX x-clear Ltd – offers a high-quality and comprehensive range of clearing services covering an extensive number of instruments across a range of platforms. Specifically, SIX x-clear offers clearing services for cash equities, Exchange Traded Funds (ETFs) and fixed income. Additionally, through its Norwegian Branch, SIX x-clear Ltd offers clearing services for cash equities, Exchange Traded Funds (ETFs), derivatives and securities lending and borrowing transactions.
SIX x-clear Ltd entered the clearing arena in 2003 offering central counterparty clearing services for SIX Swiss Exchange Ltd. Following the introduction of MiFID in 2007 and the proliferation of new trading venues, SIX x-clear Ltd has continued to grow its core cash equity clearing business with the addition of a number of multilateral trading facilities (MTFs), broker crossing systems and OTC matching platforms.
In 2008, SIX x-clear Ltd extended its clearing services to encompass regulated exchanges with the addition of the London Stock Exchange and Bats Europe, which became a Recognized Investment Exchange (RIE) in 2013.
Oslo Clearing ASA was acquired by SIX x-clear Ltd in 2014 and was legally integrated in May 2015, operating as SIX x-clear Ltd Norwegian Branch and offering clearing services for equities and derivatives traded on the Oslo Børs.
The Norwegian Branch, situated in Oslo, is a legally integrated part of SIX x-clear Ltd, domiciled in Zurich. SIX x-clear Ltd is licensed as a bank by the Swiss Financial Market Supervisory Authority (FINMA) and also received a license from the Norwegian Ministry of Finance for the conduct of clearing operations in and out of Norway. Furthermore, the Swiss National Bank reviewed and positively assessed SIX x-clear Ltd’s ability to provide its current range of services, in particular also those offered by its Norwegian Branch. Currently SIX x-clear Ltd runs two separate clearing platforms: SECOM for services provided by the Zurich main office and CLARA for services facilitated by the Norwegian Branch.
SIX x-clear Ltd (incl. Norwegian Branch): Overview of Contractual Relationship with Members
SIX x-clear Ltd offers clearing services for cash equities and ETFs across a range of platforms, with a universe of over 25,000 securities.
SIX x-clear Ltd offers clearing services for derivatives with Oslo Børs ASA.
SIX x-clear Ltd offers clearing services for fixed income instruments traded on SIX Swiss Exchange Ltd with a universe of over 700 securities and has a strong pipeline to further internationalize its existing bond clearing offering.
Securities Lending and Borrowing Transactions
SIX x-clear Ltd offers clearing services for securities lending and borrowing transactions.
Pricing SIX x-clear
The fee structure stresses SIX x-clear Ltd’s commitment to offer highly competitive and sustainable fees and to provide achievable incentives to both existing and new clients.