SIX and Nasdaq launch first connection under European microwave network expansion

After confirming plans to team up and expand the European microwave network, SIX and Nasdaq Nordics have launched the first connection between London and Stockholm. 

Exchange operators SIX Group and Nasdaq Nordics have launched the first connection between London and Stockholm, after confirming plans to expand SIX’s European microwave network in April.

The launch will provide faster and more secure transactions for market participants, as data and signals can be delivered via microwave infrastructure across Europe instead of using fiber optic cable, SIX said in a statement.

“The completion of this new route is a great achievement and we are very proud that this was possible despite COVID-19 turmoil, especially as the link spans across five European countries,” commented co-head of 12H AG in the business unit securities and exchanges of SIX, Roger Hunziker, on the first service.

The partnership, known as RF Nordics Express AB, was confirmed in April. Nasdaq and SIX have been technology partners since 2005, with SIX using Nasdaq’s trading technology across all markets, including equities, ETFs, structured products, funds, and fixed income.

SIX and Nasdaq said upon confirming the plans that with microwave technology, they will be able to transmit data between centres at a faster rate to provide clients with an edge in identifying price movement and risk. SIX Swiss Exchange added that the technology will also improve liquidity and tighten spreads for better execution performance in Swiss securities trading.

“At the Swiss Stock Exchange, we have a long history of not only ensuring the stability and availability of our trading infrastructure but also of making the most modern technology accessible to all our participants by partnering with leading technology providers,” added Hunziker. “To actively shape the future of trading, we aim to offer the most advanced technology within our unique market structure.”