SIX
SIX Group AG is a privately-held Swiss financial market infrastructure operator that runs the Swiss and Spanish (BME) stock exchanges, clearing, settlement and custody, plus indices, data, payments and open-banking services. It serves 100+ banks, asset managers, fintechs, corporate issuers and digital-asset ecosystem participants across 19 countries.
- Company typePrivate
- Founded2008
- HeadquartersZürich, Switzerland
- Headcount1–10
- GTM typeB2B
- OfferingServices
What SIX does
SIX Group AG is a privately-held Swiss financial market infrastructure operator headquartered in Zurich, owned by approximately 120 Swiss and international financial institutions. Founded in 2008 through the merger of SWX Swiss Exchange, SIS SegalnterSettle and Telekurs Group, SIX operates the integrated value chain for capital markets across Switzerland and Spain through SIX Swiss Exchange, BME Exchange (Bolsas y Mercados Españoles), SIX x-clear, SIX SIS AG (central securities depository), and post-trade, data, indices, banking services and open-banking subsidiaries. Following FINMA approval in May 2026, the company merged its blockchain subsidiary SDX into SIX SIS AG to offer unified traditional and crypto-asset custody, positioning SIX among Europe's four largest CSDs alongside Euroclear, Clearstream and Euronext Securities.
The company operates a regulated multi-asset stack spanning exchange listing and trading (60,000+ securities including 452 crypto-asset ETPs), clearing via SIX x-clear and BME Clearing (being unified into a single EU-licensed SIX Clearing), settlement and custody at SIX SIS AG, and Swiss interbank clearing infrastructure (SIC and euroSIC RTGS systems, eBill, LSV, QR-bill, TWINT, Bancomat, and bLink open-banking platform with 8 founding banks and 30+ institutions). Its financial information business distributes market, reference, regulatory, ESG and indices data across APIs, Snowflake AI Data Cloud and Chainlink DataLink onchain (reaching 2,600+ applications across 75 blockchains), while proprietary technology includes a BME-derived low-latency Order Management System adopted by Incore Bank and tokenized-depositary-receipt infrastructure used by Citi, Sygnum Bank and SBI Digital Markets.
SIX generates revenue through a mix of transaction-based fees (exchange listing, trading, clearing and settlement), recurring data subscriptions (including multi-year enterprise contracts such as the 7-year Barclays agreement), index licensing (SMI, IBEX35, SPI, ESG indices), managed services (DLT settlement, crypto custody, securities finance, tax and trade-repository services), and specialized offerings (SIX ConventionPoint, Terravis land-register portal, Swiss Finance Museum). Customer segments span exchanges and capital-markets operators, 100+ Swiss banks and PSPs, data and analytics customers (banks, asset managers, fintechs), digital-asset ecosystem participants, corporate issuers from SMEs to blue chips, European retail brokers and retail investors, open-banking fintechs, and payments-fraud operations teams. Strategic acquisitions of Aquis (2025), Baymarkets (2025) and Worldline's Electronic Data Management division (2026), combined with partnerships spanning Chainlink, Snowflake, Citi, Piraeus Bank and Hong Kong's CMU OmniClear, support an ongoing transition from a traditional exchange operator into a multi-asset, multi-jurisdiction digital market infrastructure platform.
SIX firmographics
Firmographics- Name
- SIX
- Legal name
- SIX Group AG
- Website
- https://six-group.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- SIX Group AG is a privately-held Swiss financial market infrastructure operator that runs the Swiss and Spanish (BME) stock exchanges, clearing, settlement and custody, plus indices, data, payments and open-banking services. It serves 100+ banks, asset managers, fintechs, corporate issuers and digital-asset ecosystem participants across 19 countries.
- Ownership category
- akta.pro rank
SIX industry classification
Industry- Product category
- Financial Market Infrastructure
- NAICS
- Securities and Commodity Exchanges (5232), Investment Banking and Securities Intermediation (52315), Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)
- akta.pro primary industry
- Centralized Crypto Exchanges (CEX) (FSAPADAA)
- akta.pro secondary industries
- Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)
Keywords
Where SIX is headquartered
LocationHeadquarters
- HQ city
- Zürich
- HQ country
- Switzerland
- HQ region
- Europe
Offices7 records
Markets served
SIX business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure
Revenue model
- Exchange listing, trading and post-trade fees: Recurring and transaction-based revenues from SIX Swiss Exchange and BME Exchange across listing, trading (equities, bonds, ETFs, ETPs, structured products, sponsored funds), clearing (SIX x-clear, BME Clearing) and settlement/custody at SIX SIS AG.
- Financial information and reference data subscriptions: Recurring data subscriptions across market & reference data, ESG data, regulatory & compliance data, indices (Swiss, Spanish, Nordic, global, crypto) and tax data, plus API / cloud delivery via SIX iD, Snowflake and Chainlink DataLink; covers multi-year deals such as the 7-year Barclays agreement.
- Index licensing: Recurring licensing fees for SIX indices (SMI, SMIM, SPI, SLI, SBI, IBEX35 and customized indices such as SPI ESG 25, SMI Equal Weight) used as benchmarks by ETF issuers and asset managers.
- Banking and payment services: Recurring and transaction-based revenues from eBill, QR-bill, LSV direct debits, instant payments, TWINT and Bancomat services, interbank clearing via SIC and euroSIC, and open-banking APIs on bLink.
- Digital asset services (DLT settlement, crypto custody): Recurring and per-transaction revenues from tokenized securities (digital bonds, structured products), the FINMA-approved crypto custody service within SIX SIS AG, and the tokenized depositary receipt infrastructure used by partners such as Citi.
- Securities finance, tax and trade repository services: Recurring revenues from repo, triparty collateral management, securities lending & borrowing, advanced/standard/regulatory tax services, and trade repository reporting.
- Specialized offerings and ancillary services: Revenues from SIX ConventionPoint, Swiss Finance Museum, Terravis land register portal, trading solutions and developer portal services, plus recently acquired EDM unit from Worldline.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Exchange listing & IPO services |
| Transaction based/ take rate | Pay-as-you-go | Equiduct US stocks segment (commission-free retail, tiered post-trade) |
| Subscription | Multi-year contract | Financial data and index subscriptions (Barclays 7-year) |
| Other | Pay-as-you-go | Digital bond issuance (SIX as issuer) |
| Other | Annual | General SIX enterprise services (clearing, custody, banking, regulatory data) |
Go-to-market motion7 records
Distribution channels11 records
Marketing channels12 records
SIX product offering
Product offeringCore offering
SIX operates the financial-market infrastructure for Switzerland and Spain, providing stock exchange listings and trading on SIX Swiss Exchange and BME Exchange, post-trade clearing and securities settlement via SIX SIS AG (a central securities depository), custody and securities finance services, financial market data and indices subscriptions, and banking and payment services including interbank RTGS clearing, eBill, and the bLink open-banking platform. It also offers regulated crypto custody and tokenized asset settlement following the 2026 merger of SDX into SIX SIS AG.
Differentiator
Problem solved
Functional benefit
Brands
- SIX Swiss Exchange: Swiss stock exchange and listing/trading venue; Europe's 3rd biggest stock exchange.
- BME Exchange
- SIX Digital Exchange (SDX)
- bLink
- Ultumus
- Aquis Stock Exchange (AQSE)
- SIX ConventionPoint
- Swiss Finance Museum
- Terravis
Products and services
- SIX Swiss Exchange
- BME Exchange (Bolsas y Mercados Españoles)
- SIX x-clear (central counterparty clearing)
- SIX SIS AG (central securities depository)
- SDX / SIX Digital Exchange (DLT digital asset services)
- Financial Information data subscriptions
- SIX Indices (SMI, SMIM, SPI, SLI, SBI, IBEX35 and custom indices)
- bLink Open Banking platform
- SIC and euroSIC interbank clearing
- eBill and QR-bill payment services
- Securities Finance services (repo, triparty, lending)
- Tax Services and Trade Repository
- SIX Order Management System (OMS)
- Aquis Stock Exchange (AQSE)
- Equiduct US Stocks Trading Segment
- Ultumus ETF data and index services
- SIX ConventionPoint
- Swiss Finance Museum
- Terravis land register portal
Quantifiable outcome
- Reduces European retail broker post-trade costs from up to EUR 1.17/trade to as low as EUR 0.12/trade on Equiduct's US Stocks segment
- +4 more outcomes
Companies that use SIX
Customer profileNamed customers19 records
Segments8 records
Ideal customer profiles6 records
SIX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature7 records
SIX partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered flagship and core.
- CitigroupflagshipSIX (via SDX, now part of SIX SIS AG) is the regulated digital central securities depository for Citi's Digital Depositary Receipts, providing blockchain infrastructure for tokenized private-company shares. Inaugural transaction between Citi portfolio company Kaleido and Citi Wealth investors on June 11, 2026; distributed via Sygnum Bank (Europe) and SBI Digital Markets (Asia).
- Worldline (Electronic Data Management unit)flagshipWorldline finalized the divestment of its Electronic Data Management activities to SIX on May 4, 2026. Proceeds supported Worldline's North Star transformation plan and refocus on European payments; SIX acquired the EDM unit to strengthen its data business.
- ChainlinkflagshipSIX and Chainlink launched an integration making Swiss (SIX Swiss Exchange) and Spanish (BME Exchange) equities data available onchain via Chainlink's DataLink, covering over EUR 2 trillion market cap across 75+ blockchains, accessible to 2,600+ applications for tokenized indices, structured products and compliant DeFi.
- SnowflakecoreSIX partnered with Snowflake to integrate its financial datasets into the Snowflake AI Data Cloud, improving data access, operational efficiency, regulatory compliance and AI-driven analytics for finance clients.
- RiverocoreSIX is partnering with Swiss SaaS startup Rivero to expand use of Rivero's Amiko solution for fraud recovery and dispute management across SIX's payments operations, enabling SIX to manage fraud cases for over 100 Swiss banks starting 2026.
- Aquis Stock Exchange & Barclays Eagle LabscoreAquis (a SIX company) and Barclays Eagle Labs launched the Aquis IPO Academy, a six-month program addressing UK IPO decline since 2021, targeting tech-enabled and women-founded businesses with 50% female participation goal. Combines Barclays Eagle Labs scale-up expertise with Swiss and European IPO Academy models.
- Hong Kong Monetary Authority (CMU OmniClear) & HKEXcoreHong Kong's CMU OmniClear will activate linkages with SIX for equity post-trade services and establish a digital asset platform for issuance and settlement of digital bonds. Announced as part of HK's 2026 Budget Speech alongside a CMU/HKEX study on a one-stop multi-asset post-trade infrastructure.
- Piraeus BankcoreSIX and Piraeus Bank announced a new direct post-trade access model for the Greek equity market; SIX becomes a direct participant at ATHEXCSD for safekeeping of Greek equity instruments, while Piraeus Bank provides the local interface and servicing infrastructure for international institutional investors.
- MultifondscoreMultifonds (fund administration platform supporting over USD 10 trillion in assets across 40,000+ funds in 35 jurisdictions) entered a strategic partnership with Ultumus, part of SIX Group, to give clients access to ETF technology and a network of authorized participants and market makers via an off-the-shelf connector.
- Incore BankcoreIncore Bank became the first Swiss financial institution to adopt SIX's Order Management System, built on low-latency BME technology. Implementation provides smart order routing, FIX 4.4, algorithmic execution, pre-trade risk controls and access to global liquidity providers, strengthening Incore's B2B offering.
- Baymarkets ASflagshipSIX acquired Baymarkets AS to enhance post-trade solutions and modernize clearing technology, supporting development of a scalable derivatives clearing platform. Acquisition aligns with SIX's strategy to be a leading provider of integrated and digital post-trade services in Europe, leveraging SIX's infrastructure across 19 countries.
- BarclaysflagshipSeven-year strategic partnership giving Barclays access to SIX's full suite of financial information services, including real-time market data, regulatory reporting tools and cross-asset data solutions across investment banking, retail, wealth and corporate businesses; supports Barclays' £2 billion cost-cutting goal by 2026 and strengthens SIX's international footprint in the U.S. and Asia.
- Aquis Stock Exchange (AQSE)flagshipSIX completed its acquisition of Aquis in July 2025 to expand its European exchange and capital markets business. Aquis continues to operate as the UK's growth-company exchange with the SIX IPO Academy and Aquis IPO Academy, and now feeds into broader SIX IPO Readiness and Equiduct ecosystems.
- ULTUMUS (acquired from ETFS Capital)flagshipSIX acquired ULTUMUS from ETFS Capital to strengthen its data offerings in the ETF industry (projected to reach USD 9 trillion by mid-2021). The transaction, closed July 12, 2021, promotes transparency and efficiency in ETF trading; ULTUMUS now powers the Multifonds ETF-technology partnership.
Scale indicators18 records
Recent moves8 records
Expansion highlights6 records
SIX competitors and assessment
Company assessmentDirect peers
- Euronext: Pan-European multi-country exchange operator (Paris, Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo) with clearing, custody and advanced data services. Closely comparable in scope to SIX's Swiss+BME multi-country model and a likely consolidation counterpart.
- Clearstream (Deutsche Börse): International CSD and central securities depository owned by Deutsche Börse, headquartered in Luxembourg. Direct competitor to SIX SIS AG in cross-border settlement and custody, including for tokenized and digital assets.
- Euroclear: One of Europe's two largest international CSDs alongside Clearstream; SIX cites Euroclear (and Clearstream and Euronext Securities) among its four largest CSD peers. Directly comparable post-trade and settlement infrastructure.
- Deutsche Börse: Frankfurt-listed operator of the German exchange, Eurex Clearing and Clearstream CSD with a major financial-information and index business (STOXX, DAX). Most direct competitor to SIX in European exchange + clearing + CSD + indices + DLT (D7) infrastructure.
- London Stock Exchange Group (LSEG): Operator of the London Stock Exchange, Refinitiv data franchise and post-trade services. Comparable in offering integrated exchange + data + post-trade infrastructure, with global scale that exceeds SIX.
Broad incumbents
- DTCC: US central securities depository and trade repository. Comparable in providing post-trade infrastructure (Equiduct's US Stocks segment settles via DTCC on T+1), though operating under a different regulatory regime and asset mix than SIX.
- CME Group: World's largest derivatives exchange and clearing house. Peer in multi-asset clearing and market-data distribution, though SIX's equity, banking and digital-asset exposures are not directly matched by CME.
- Intercontinental Exchange (ICE): Owner of NYSE, ICE Futures and a global clearing and fixed-income data network. Comparable as an exchange + clearing + data platform, but with significantly larger derivatives and commodities footprint than SIX.
- Hong Kong Exchanges and Clearing (HKEX): Asian exchange, clearing and CSD operator that is actively linking with SIX via CMU OmniClear for equity post-trade and digital-bond issuance. Direct strategic counterpart for SIX's Asia expansion and DLT bond initiatives.
- Nasdaq: US-listed global exchange operator with deep data, index and marketplace-technology franchises. Direct competitor for cross-border listings and index licensing, with stronger North American and SaaS-style data exposure.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat7 records
Key risks5 records
Key highlights7 records
Customer concentration
SIX social profiles
Digital presenceSIX financial estimates
Financial estimateRevenue estimate
Valuation estimate
SIX leadership team
Management profileNumber of profiles
Profiles4 records
SIX subsidiaries and ownership
Company hierarchySubsidiaries9 records
SIX funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SIX M&A and investment
M&A and investmentM&A7 records
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SIX
What does SIX do?
SIX operates the financial-market infrastructure for Switzerland and Spain, providing stock exchange listings and trading on SIX Swiss Exchange and BME Exchange, post-trade clearing and securities settlement via SIX SIS AG (a central securities depository), custody and securities finance services, financial market data and indices subscriptions, and banking and payment services including interbank RTGS clearing, eBill, and the bLink open-banking platform. It also offers regulated crypto custody and tokenized asset settlement following the 2026 merger of SDX into SIX SIS AG.
Is SIX a public or private company?
SIX is a private company. It is classified as corporate owned and is currently operating.
When was SIX founded?
SIX was founded in 2008. It employs 1 to 10 people.
Where is SIX based?
SIX is headquartered in Zürich, Switzerland, in the Europe region.
How does SIX make money?
Seven revenue lines are on record. Exchange listing, trading and post-trade fees are the primary driver. The others are financial information and reference data subscriptions, index licensing, banking and payment services, digital asset services (DLT settlement, crypto custody), securities finance, tax and trade repository services and specialized offerings and ancillary services.
Who are SIX's main competitors?
Direct peers on record are Euronext, Clearstream (Deutsche Börse), Euroclear, Deutsche Börse and London Stock Exchange Group (LSEG). Broad incumbents are DTCC, CME Group, Intercontinental Exchange (ICE), Hong Kong Exchanges and Clearing (HKEX) and Nasdaq.
Does SIX have an API?
Yes. SIX offers public APIs as a delivery method for its Financial Information data products, including reference data, corporate actions data, pricing data, fixed income data, funds, crypto asset data, master data, portfolio valuation services, and financial data standards. Delivery methods also include SIX iD display, file-based feeds, and Cloud (via Snowflake). The SIX Developer Portal provides access to developer documentation. Developer documentation is at developer.six-group.com/en/home.html.
What industry is SIX in?
SIX's product category is Financial Market Infrastructure. Its primary akta.pro industry code is FSAPADAA, Centralized Crypto Exchanges (CEX), with a secondary code of FSADAAAG, Crypto Custody & Exchange Wallet Services (Integrated). Its NAICS code is 5232 and its SIC code is 6200.