Swiss stock exchange group SIX released its 2024 results today. New CEO Bjørn Sibbern announced a three year program, Scale Up 2027, which aims to improve growth and margins. It will see 150 people lose their jobs, some of them through attrition. Plus, as part of the push, it plans to merge the blockchain-based SIX Digital Exchange (SDX) into its Securities Services business unit.
It portrayed this as a growth initiative, saying that SDX’s technology will now be rolled out across the group. SIX wants to “capitalize on synergies and fully leverage the potential of SDX as part of the broader SIX ecosystem.”
The SIX Digital Exchange was the first regulated secondary market for digital securities in the world, one of several world firsts. The exchange is also the first to host a production wholesale central bank digital currency (wCBDC), although technically the Swiss National Bank’s wCBDC is part of an extended two year pilot of Project Helvetia. SDX also holds a license as a central securities depository (CSD).
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