The SIX Swiss Exchange and the operator of the Nordic Nasdaq exchanges are setting up a joint venture company, as detailed in a press release. The new RF Nordic Express AB is to build and operate microwave routes for the transmission of market data from Stockholm to London.
In the first quarter of 2020, SIX acquired a majority stake in the operator of its microwave network, namely 12H AG. Since then, SIX has owned and operated the largest microwave network in Europe, according to information from the stock exchange itself. At the moment, it connects Zurich with London, Frankfurt and Milan, as well as Milan with London and Frankfurt. Thanks to the partnership with Nasdaq, the network will now be further expanded.
In the press release, SIX explains how “microwave technology enables the fastest transmission of market data between trading centers”. Signals are sent through the air at the speed of light. Due to this technology, trading participants on the SIX Swiss Exchange can identify price movements and implement investment decisions as quickly as possible
“The new joint venture marks the extension of this long-standing and successful partnership and is a testament to the innovative nature of the Swiss Stock Exchange”, comments Thomas Zeeb, Member of the Executive Board at SIX, in the press release. He adds that the SIX Swiss Exchange is therefore able to leverage “the benefits of microwave technology across Europe”.
SIX and Nasdaq have been working together since 2005 in the area of technology. Among other aspects, Nasdaq has deployed the trading technology across all of its trading segments.