SIX has agreed to acquire Norwegian post-trade technology firm Baymarkets AS, aiming to strengthen the clearing infrastructure underpinning its European securities services. SIX announced the acquisition in a press release.
Baymarkets, founded in 2007 and based in Oslo, provides a clearing platform used for both exchange-traded and OTC markets. According to the announcement, the system is already operating across multiple currencies and asset classes and is built to scale. SIX describes the platform as a way to support future development of its derivatives clearing offering.
Focus on in-house development
SIX positions the acquisition as part of a broader push to enhance its own post-trade technology capabilities. By absorbing Baymarkets’ systems and technical staff, the group expects to widen the range of services it can deliver and sharpen its development capacity in clearing.
Rafael Moral Santiago, Head of Securities Services and Executive Board Member at SIX, states in the release that Baymarkets’ technology will help the group deliver clearing services “faster and more flexibly”.
The parties have not published the terms of the transaction.
