SIX has announced that since 11 June 2018, Entris Banking AG has been using the regulated trading platform of SIX Repo Ltd for its repo transactions. This new partnership means that Entris Banking AG can also offer its own clients, the Swiss regional banks, access to the repo market.
With its repo market for Swiss regional banks on the technological trading platform of SIX Repo Ltd, Entris Banking AG can now provide its clients with additional liquidity via repo transactions. With this new service, Entris Banking AG acts as the link between the Swiss repo market and the regional banks. Here regional banks benefit from automated, straight-through processing (STP) without any media breaks and with it, the associated increased level of system security. In addition, the efficiency gains in terms of processing lead to cost savings, which now form a key part of many banks’ strategies.
Hans Ulrich Bacher, CRO and Board Member, Entris Banking AG said:
Our cooperation with SIX in the repo area reflects our role in the Swiss financial market: as a clearing house and transaction bank, we support smaller and medium-sized banks in Switzerland, so that they can focus on their core business. As the operator of the highly efficient repo trading platform, SIX is the ideal infrastructure partner for us to enhance market access and liquidity trading for Swiss regional banks.
Raphael Heuberger, Head Securities Finance Product Management, Securities & Exchanges, SIX added:
It is our overall goal to add value for Swiss financial market participants. To do so, we actively develop value-adding, future-oriented solutions. Our partnership with Entris Banking AG reduces operational complexity and risk for Swiss regional banks, thus helping them boost the performance of their businesses.