SIX posted positive full-year results for 2024, with total operating income up 4.6% to $1,798.76 million, bolstered by a strong performance in its exchanges segment.
Bjørn Sibbern
Its exchanges unit – comprised of SIX Swiss Exchange, SIX Digital Exchange and Borsa Madrid (BME) – generated operating income of $383.26 million, up 2.6% compared to the previous year, with the firm highlighting the business unit’s new organisational structure – adopted in June 2024 – wherein the exchange took on an asset-class-based approach.
The new setup features specialised teams, “irrespective of location,” supported by shared functions, added SIX.
Specifically, its exchanges business unit saw trading operating income total $268.09 million, up from $265.26 million in 2023.
Set to further bolster the segment is the acquisition of Aquis Exchange by SIX, announced in November 2024. The intended transaction is a major step, set to shake up the European equities landscape.
At the time the deal was announced, SIX highlighted that it considered the move to be a “compelling strategic opportunity which will complement its strategy to scale the exchange business beyond its home markets”.
The combined resources and capabilities of SIX and Aquis create a pan-European exchange across traditional primary exchange and MTF businesses.
Speaking at the time, Bjørn Sibbern, chief executive at SIX, said: “The combination will add Aquis’ strong offering to our traditional primary exchange and data businesses, complementing SIX’s existing growth listing segments.
Read more: SIX agrees to acquire Aquis Exchange
Elsewhere, the Group’s securities services unit also saw growth, recording an operating income of $613.38, up 1.8% year-on-year, attributed to significant growth in international custody.
SIX also linked its growth in total operating income to its diversified business model, with revenues up across funds trading, debit card services, mobile payments, eBill, and international securities custody, as well as in reference data, regulatory services, and indices.
“We have a strong foundation to build from and will leverage it more effectively to accelerate growth and enhance profitability,” said Sibbern.
“This will see us bolster the Group’s position as a leading pan-European financial market infrastructure provider, while enhancing our high-value global data offering in an increasingly competitive landscape.”
The positive earnings follow a string of similar results from other venues released earlier this year.
In February, Euronext posted positive full year earnings, achieving double digit revenue growth which it attributed to a diversified revenue profile, while more recently, the London Stock Exchange (LSEG) saw overall growth across its key businesses in 2024, with significant improvement in capital markets.