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Global Indices Launch Marks SIX’s Latest Expansion of ETF Business

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SIX, the data aggregator and operator of Swiss and Spanish stock exchanges, has expanded its indexing business with the creation of two families of global equities indices that can be used by the company’s retail, private banking and asset management clients.

The SIX World Indices provide a broad view of global markets through a diversified and variable roster of stocks traded across major markets. Meanwhile, the SIX Broad & Blue-Chip Indices present views into a fixed array of equities that constitute the most representative companies within geographic markets and regions.

The indices are aimed at helping clients streamline their data operations by providing direct access to information on the stocks in which they are invested without having to subscribe to costly third-party services and products.

Further Expansion

The new indices represent the latest step in SIX’s plan to become a one-stop-shop for exchange-traded funds (ETFs), providing fund manufacturers with the tools to create and list their products and take advantage of SIX’s trading, custody, index and data services.

It already publishes indices around its Swiss and Spanish stock exchange operations, and has also launched Nordic and ESG gauges. The company signalled its intention to build out its index business earlier this year when it made a strategic investment in BITA, a provider of indexing technology and services used by exchanges, delta one desks and asset management firms. The cash injection cemented a relationship begun two years ago and which has aided SIX’s move into the cryptocurrency sector.

In an interview with Data Management Insight, which will be published in full next week, SIX head of financial information Marion Leslie explained that the Bita investment provides the opportunity “to do so much more”.

“The ability to start running global indices, custom indices, thematic indices –which we are investing in – is a great asset to have,” Leslie said.

SIX head of index services, financial information Christian Bahr said that the company’s index business was responding to rising demand for benchmarks, especially from passive funds, and that he expected more to be created soon.

“Establishing a strong presence across the banking sector is paramount for recognition as a key player in global indices and global market data,” Bahr said. “Many financial institutions are in the process of renewing their online banking products, including their own websites and apps,” he said.

Fast Connections

The indices also provide API connection to data on each component enabling clients to access real-time pricing and granular performance data, as well as other datasets. This, said Bahr, provides a more “sophisticated overview of market performance for their investment-savvy customers, and our combined proposition around API delivery will make accessing this data faster, simpler, and more cost-effective for financial institutions”.

All indices are priced in dollars, euros and Swiss francs and components are weighted by free-float market capitalisation. The SIX World Indices will be reviewed each June and December, while those in the SIX Broad and Blue-Chip family will be updated individually.

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