Swiss Exchange Operator to Run Nation’s Repo Market
The Swiss franc-denominated market for short-term loans, which the Swiss National Bank uses to conduct its open-market operations, is currently run by the Eurex derivatives exchange on a platform developed by SIX. Eurex was previously jointly owned by SIX and Deutsche Boerse and SIX sold its stake to the Frankfurt-based company in 2012.
“We have now won the mandate for the repo market,” Christian Katz, chief executive officer of the Swiss exchange, said in an interview at the Federation of European Securities Exchanges annual convention in Berlin. “We will now run it and develop the next generation of the repo platform.”
SIX this year ended its Scoach joint venture with Deutsche Boerse for European structured products, seeking to run it alone. The operator of the Zurich bourse, clearinghouse and payment-transactions system said profit climbed almost 47 percent in 2012 on higher financial income and as it sold its stake in Eurex.
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