The Swiss Stock Exchange is to establish a jointly-owned company with Nasdaq with the aim of building the largest microwave data transmission network in Europe.
The new company, RF Nordic Express AB will build and operate microwave routes for the transmission of market data from Stockholm to London.
SIX began offering microwave trading routes in Europe in 2018 through Zurich-based joint venture 12H AG, in which the Exchange now holds a majority stake.
Connecting Zurich to London, Frankfurt and Milan as well as Milan to Frankfurt, microwave technology allows trade data for all securities listed at SIX to be transmitted more than twice as fast as connections based on commonly used fiber optic technology, giving traders an edge in fast-moving markets
The new joint venture with Nasdaq's Nordic exchange interests will will build and operate microwave routes for the transmission of market data from Stockholm to London.
Thomas Zeeb, head securities & exchanges SIX, comments: “The new joint-venture...leverages the benefits of microwave technology across Europe to ensure fair and more efficient trading and highlights how the Swiss Stock Exchange deploys breakthrough technology for all market participants.”