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BME Acquisition Strengthens Competitiveness
While organic growth is the focus for SIX, partnerships and acquisitions offer the opportunity to accelerate or complement the growth strategy. Financial market infrastructures entail high fixed costs. Additional volumes enable significant economies of scale to be achieved quickly, which increases profitability and thus enhances the capacity for innovation. This augments the competitiveness of the infrastructure.
Entirely in keeping with these objectives, the acquisition of BME will enable economies of scale to be achieved along the entire securities value chain. In addition to cross-market synergies, this acquisition enables efficient collaboration in tapping new areas of growth. With BME, SIX now also has a home market within the EU. This will give it access to an expanded customer base and it will be able to extend its range of products and services across the European capital market.
Free Float Market Capitalisation at European Exchanges
as of 31 December 2020 / in EUR bn
In the year under review, SIX was quick to establish a new organizational structure to bring about these synergies and economies of scale as swiftly as possible: The securities business of SIX and BME will be combined across regions and divided into separate trading (“Markets” unit) and post-trading activities (“Securities Services” unit). Indices and Value-Added Services, which are part of the financial data business at BME, will be integrated into the SIX business unit Financial Information. In the Banking Services business unit, SIX will continue with its current activities.
The newtakes effect on 1 January 2021.