As per the deal, SIX Securities will play the roles of international Central Counterparty (CCP) for the Turkish market and global custodian for Takasbank while Takasbank will become a full-service provider for the Turkish market through a direct CSD link with SIX SIS.
The deal also covers the exploration of joint business opportunities in the area of Islamic finance products and access to the respective markets.
SIX x-clear CEO Urs Wieland said, "Now we are focusing on implementation and moving quickly to bring this comprehensive offering to our mutual customers."
SIX Securities services are available both for the domestic Swiss market and international markets.
The services include Custody (domestic and international), CCP Clearing, risk management, real-time settlement (including real-time realignment of holdings), collateral management and share registration services.
