SIX Group, the parent company of Switzerland’s principal stock exchange SIX Swiss Exchange, has announced activity on its SIX Deal Pool. Credit Suisse, Raiffeisen Schweiz Genossenschaft, and UBS have used the pool to inform investors about the latest bond issue of Pfandbriefbank with a placement volume of CHF 206 million.
SIX Deal Pool, which offers institutional investors and banks information about upcoming Swiss Franc bond offerings, is open for business after the first usage of its new central and electronic support tool for the fixed income primary market in Switzerland.
The platform distributes information in a timely, standardized and convenient manner and both institutional investors and banks are free to register. Developed by SIX in cooperation with the leading syndicate banks in Switzerland, SIX Deal Pool is supported by 16 syndicate banks.
Swiss stock exchange offers a wide range of instruments in its bond segment, which includes sovereigns, supranational organizations, corporates, and financial institutions as issuers. Approximately 900 listed bonds are from issuers from around 50 jurisdictions on all five continents.
According to the company, already 472 institutional investors and banks have signed up and benefit from the efficient new workflow for managing and distributing new issue information. Being a neutral provider ensures investors and banks that SIX makes the same information at exactly the same time available to all recipients and in a standardized format.
Christian Reuss, Head Sales, Securities & Exchanges, SIX, said:
“SIX Deal Pool is a perfect example how we can provide new solutions to the marketplace that make it more efficient and less prone to error for the benefit of all stakeholders.” SIX Deal Pool has been developed in line with the mandate of SIX to develop and operate infrastructure services for the Swiss financial center and Swiss banks with the aim of increasing efficiency, quality and innovative capacity.”
SIX announced the appointment of Chief Executive Officer Jos Disjsseolhof earlier this year. A newly constituted Executive Board took over operational management of SIX on 1st April 2018. The company realigned in a move to face the challenges presented by a market environment that has undergone fundamental changes.