SIX and China Construction Bank Corporation (CCB) signed an MOU to develop cooperation on securities services topics and to foster a continuing relationship between the parties.
The signing session reportedly took place in Beijing, China, at SIBOS.
SIX and CCB share three main purposes: the establishment of business relationships between CCB and key business areas of SIX (in particular in the fields of Securities Services and SIX Swiss Exchange), as well as the “further internationalization of Switzerland’s financial services market, and the collaboration between CCB and SIX in the following areas: know how exchange, evaluation of joint market presence activities with regards to the business relationships, and product and market development.”
As explained in the update, CCB and SIX are interested in exploring potential for “co-operation and collaborate together.”
That’s why they agree to establish a system for “periodic meetings” of management for both parties and strengthen “personnel communication.”
As stated in a blog post, CCB Group is now looking forward to deepening the relationship with SIX Group, and together exploring opportunities for collaboration.
As covered, SIX reportedly operates stable as well as efficient infrastructure for the Swiss and Spanish financial centers, thus ensuring “access to the capital markets and the flow of information and money between financial market players.”
As a provider of financial information, SIX delivers reference, pricing, corporate actions, and ESG data and provides “regulatory services and indices to clients around the world.”
The firm is reportedly owned by its users (more than 120 banks) with a workforce of 4,160 professionals as well as a presence in 19 different countries.
As reported recently, CMU OmniClear Limited, which is a wholly-owned subsidiary of the Hong Kong Monetary Authority (HKMA) and SIX signed a Memorandum of Understanding (MOU) for cooperation in securities depository and settlement to foster the growth of cross-border investment