MACD, the leading provider of trading connectivity in Switzerland, successfully connected the financial institutions Helvetische Bank AG and Incore Bank AG to ARTEX, the world's first art stock exchange, at the beginning of March.
Customers of the two Swiss pioneers can now invest in the exciting world of art stocks for the first time. Thanks to the seamless integration of the MACD software into the existing core banking systems, this new asset class can now also be traded automatically.
George Macdonald, CEO MACD says: "We are delighted to have ARTEX as a very innovative new partner in the MACD network. After representatives of the art stock exchange introduced themselves to the MACD community at our conference in summer 2023, we are now proud to announce that two of our customers are already using the new service and several more are interested. We look forward to a long-term partnership and wish ARTEX every success."
Yassir Benjelloun-Touimi, co-founder and CEO of ARTEX Stock Exchange declared: "We are delighted to announce this partnership with a well-recognized player in trading connectivity like MACD. MACD's technology will enable us to offer Swiss investors the best trading conditions for art as a new asset class. The enthusiasm generated by our exchange platform among Swiss banks also demonstrates the very strong potential for democratising investment in art."
Mark Dambacher, CEO InCore Bank explains: "We are thrilled to be at the forefront of this pioneering venture with MACD and ARTEX, marking a significant milestone in the financial industry by introducing the world's first art stock exchange. This collaboration not only highlights our commitment to innovation but also enhances our offerings, allowing our clients to diversify their investment portfolios by including art stocks. We are excited to provide our clients with an opportunity to engage in the art market in a novel and accessible manner. We anticipate a bright future for this venture and are committed to supporting our clients as they explore this new asset class."
ARTEX is the world's first art stock exchange that allows investors to invest in different artworks without having to own the actual physical artwork. Instead of buying an entire artwork, investors can buy shares in an artwork, which can then be traded on the exchange. This democratises access to this traditionally rather elitist market.