Given the challenging economic environment, SIX can look back on a good first half of 2016. Compared to last year, operating income, EBIT and Group net profit all rose.
This improvement was partly the result of extraordinary proceeds from the sale of real estate but was also driven by the successful implementation of strategy. Turnover increased in all business areas except Swiss Exchange. In combination with ongoing cost discipline, this made for a further improvement in profitability. The diversified business model, which makes the company less dependent on specific business areas and markets, enabled a good result to be recorded despite the weak securities business.
In addition, in the first half of 2016 SIX substantially renewed and extended its range of services, with the successful start of the new repo trading platform, the relaunch of SIC, Switzerland's most important payment system, and the commencement of trading on XBTR, the bilateral trading platform for structured products. In parallel with these developments, work continues on preparing a comprehensive solution for the European regulation on key information documents (PRIIP KID) that comes into force at the beginning of 2017. SIX has also entered into negotiations on a merger of Paymit and Twint. Subject to the approval of the competition authorities, the planned merger is aimed at establishing an open, standardised payment solution for mobile and digital payment transactions in Switzerland.
SIX is pursuing the goal of offering services for the whole financial sector through a central infrastructure. This will create the basis for industrialized handling of indistinguishable activities of financial market participants.