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PostFinance is a new shareholder of SIX

08 March 2018  |  2303 views  |  0 Source: SIX

PostFinance, one of the leading retail financial institutions in Switzerland, is a new shareholder of SIX, the operator of the Swiss financial market infrastructure. With PostFinance, the shareholder base of SIX now includes 127 banks and all significant participants of the Swiss financial center.

SIX operates the infrastructure of the Swiss financial center, catering to a broad, international client base. The core business focus is on infrastructure services for shareholders and on the financial sector in the areas of securities, payment transactions and financial information.

SIX was formed in 2008 through the merger of SWX Group, SIS Group and Telekurs Group. The previous owners of the merged entities are now the shareholders of SIX. The shares are distributed in a way that they mirror the utilization of SIX on one hand and on the other hand in a way that no single owner or bank category holds an absolute majority. The transfer of SIX shares, which are not listed, must be approved by the Board of Directors.

PostFinance has held a banking licence since the summer of 2013 and plays an important role in the domestic deposit business. It is the market leader for payment transactions in Switzerland. With the addition of PostFinance to the shareholder base, SIX has gained one of Switzerland's most prominent financial institutions as a backer.

Rolf Watter, Chairman of the Board of Directors of PostFinance, said: "The Swiss financial center needs SIX to be strong. We are very pleased to have the opportunity to have a holding in SIX and contribute to shaping the company's future. We have already been working closely with SIX, for instance in the development of TWINT. As the harmonization of payment transactions proceeds in Switzerland, our cooperation will further intensify."

Romeo Lacher, Chairman of the Board of Directors of SIX, said: "The addition of PostFinance as a new shareholder underscores the confidence banks have in our business model and in our stable, efficient infrastructure services. Our shareholder base now includes all of the financial center's significant players. This broad support ensures the basis for the continued development of a strong, shared financial market structure, which is not only essential for maintaining the international competitiveness of our financial center, but is also central to the success of Switzerland's financial and business activities."

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