The addition makes the bank the ninety second trading member on SIX’s platform.

Co-head of cash markets at SIX, Gregor Braun, said: “We are delighted to welcome Barclays Bank PLC as our newest trading participant on our platform. 

“We look forward to supporting Barclays in leveraging the exceptional liquidity and quality of our order book for Swiss securities and wish them successful trading. Their presence on SIX underscores the attractiveness and robustness of our market infrastructure.”

SIX claims to provide access to more than 60,000 securities, including names such as Nestlé, Roche, and Novartis.

Barclays said the move aligned with its plans to become “a UK-centred leader in global finance”.

The addition follows a busy few months for SIX across several of its business areas. The exchange moved to acquire Aquis in November last year, expanding its pan-European reach.

Read more – SIX agrees to acquire Aquis Exchange

The deal – which would grow SIX’s trading, data, listings and technology businesses – is currently awaiting regulatory approval.

SIX posted positive full-year results for 2024, with total operating income up 4.6% to $1,798.76 million, bolstered by a strong performance in its exchanges segment.

Its exchanges unit – comprised of SIX Swiss Exchange, SIX Digital Exchange and Borsa Madrid (BME) – generated operating income of $383.26 million, up 2.6% compared to the previous year, with the firm highlighting the business unit’s new organisational structure – adopted in June 2024 – wherein the exchange took on an asset-class-based approach.

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The CCS service, which is an extension of CLS’s payment-versus-payment (PvP) settlement service CLSSettlement, mitigates settlement risk for CCS transactions.

Through the integration of CCS flows into CLSSettlement, the offering provides multilateral netting against all other FX transactions, resulting in liquidity optimisation benefits alongside reducing client’s daily funding requirements.

“The adoption of our CCS service by Barclays, one of the world’s premier banking institutions, demonstrates the value and trust placed in our risk mitigation and liquidity management solutions by the industry,” said Lisa Danino-Lewis, chief growth officer at CLS.

“The growing number of institutions, as well as growing volumes on the platform, underlines the industry’s commitment towards minimising settlement risk in the FX market.”

Read more: Three new additions for CLS’ cross currency swaps service

As the industry looks to further mitigate settlement risk, CLS’s CCS services has grown in activity in recent times. Values of CCS submitted to CLSSettlement were up 48% year-on-year last year.

“As markets continue to navigate an uncertain period, being able to mitigate FX settlement risk via CLS’s CCS service is a vital part of our risk management practices,” said Michael Pollak, head of cross currency trading at Barclays Bank.

“Through multilateral netting, we can also optimise our liquidity, reduce our funding requirements and remove friction from the market’s infrastructure. We look forward to the continued benefits the service will bring to our operations and the wider industry.”

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