SIX, the Swiss financial data and market infrastructure provider, has made a strategic investment in BITA, the indexing technology and services company. The move aims to bolster a range of ongoing joint projects and fast-track the global expansion of SIX’s benchmark platform. Existing BITA shareholders, including ETFS Capital, Volta Ventures, and Pamica NV, have also participated in the investment round.
Through its technology infrastructure, notably its cloud-based system BITACore, BITA offers a platform for the design, backtesting, calculation, and dissemination of various indices, baskets, and custom portfolios. The technology supports the daily operations of exchanges, delta one desks, and asset management firms, and aims to address the rising worldwide demand for scalable and customisable rules-based investment solutions.
The partnership between SIX and BITA began in 2022, focusing on the development of new global equity indexes. The collaboration has since extended into the cryptocurrency sector, where SIX utilises BITA’s calculation infrastructure and APIs for indexing projects.
This latest investment underscores SIX’s commitment to broadening its array of services tailored to the international Exchange-Traded Fund (ETF) sector, positioning itself as a one-stop ETF shop for creation and listing, trading, custody, and distribution of high-quality market, index, and reference data. Ultumus, an ETF data specialist acquired by SIX in 2021, plays a key role in this ecosystem by acting as a sales and distribution agent, further facilitating BITA’s access to the sell-side with its custom basket management solution.
Marion Leslie, Head Financial Information and Executive Board Member, SIX, commented: “At SIX, we are committed to providing innovative and efficient solutions to the Indexing and ETF industry. Our strategic investment in BITA strengthens our existing partnership and fuels our shared vision of a future where customized indexing solutions are accessible and scalable for all market participants. Together, we will leverage BITA’s cutting-edge technology and SIX’s global reach to deliver even greater value to our clients.”
Victor Hugo Gomez, CEO of BITA, added: “Our growing, multifaceted business relationship with SIX is a perfect example of how our indexing infrastructure can support financial institutions in scaling their product development, cutting time to market, and increasing their flexibility. We are delighted to welcome SIX as an investor in BITA and look forward to leveraging their footprint as we continue our path towards becoming the leading investment customization infrastructure”.
BITA plans to use this investment to enhance its infrastructure’s functionality and continue its expansion into key markets.
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