SIX and Nasdaq team up for Europe-wide market data access via microwave tech

The Swiss Stock Exchange (SIX) and the operator of Nasdaq´s Nordic exchanges have signed a partnership in Q1 2020 to expand the current European microwave network. As part of this SIX has established a jointly owned company with Nasdaq, RF Nordic Express, which will build and operate microwave routes for the transmission of market data from Stockholm to London.

Having taken a majority stake in 12H AG – the operator of its microwave network – earlier this year, SIX now owns and operates the largest microwave network in Europe. This network allows all Swiss Stock Exchange trading participants to benefit from low-latency market data transmission from Zurich to London, Frankfurt and Milan as well as from Milan to Frankfurt and London. The parties have agreed not to disclose the amount of the investments.

Equal access to the microwave network is ensured for all trading participants at both regulatory and technical levels, in line with Switzerland’s legal framework. SIX not only ensures the stability and availability of its trading infrastructure, but makes the most modern technology accessible to all its participants by partnering with leading technology providers.

Microwave technology enables the fastest transmission of market data between trading centers. Signals are traveling at the speed of light and relayed through the air in the most direct way possible. This enables Swiss Stock Exchange trading participants to identify price movements and implement investment decisions as quickly as possible. As a result, risks can be managed more efficiently which benefits participants and end investors alike. It also improves liquidity and tightens spreads, which results in better execution for everybody trading Swiss securities on the Swiss Stock Exchange.

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