SIX Bolsters Global Benchmark Platform Through Strategic Investment in BITAv

SIX Bolsters Global Benchmark Platform Through Strategic Investment in BITA

(IN BRIEF) SIX, a prominent financial information provider, has announced a strategic investment in BITA, a leading indexing technology and services provider, alongside existing shareholders ETFS Capital, Volta Ventures, and Pamica NV. Recognizing the increasing demand for customizable investment solutions, BITA has developed cutting-edge technology infrastructure, including its flagship cloud-based system, BITACore, utilized by exchanges, delta one desks, and asset management firms. The investment aims to strengthen the collaborative efforts between SIX and BITA, particularly in the development of global equity indexes and crypto indexing projects. Marion Leslie, Head of Financial Information at SIX, emphasizes the commitment to delivering innovative solutions to the indexing and ETF industry, leveraging BITA’s technology and SIX’s global reach. The funds raised will support BITA in enhancing its infrastructure and expanding into key markets, further solidifying its position as a leading investment customization infrastructure provider.

(PRESS RELEASE) ZÜRICH, 21-Mar-2024 — /EuropaWire/ — SIX, the global financial information provider, and BITA, a leading provider of indexing technology and services, announced that SIX has made a strategic investment in BITA to strengthen a series of existing joint projects and accelerate the expansion of SIX’s global benchmark platform. Existing BITA shareholders, ETFS Capital, Volta Ventures and Pamica NV also invested in the round alongside SIX.

Recognizing the growing global demand for the scalable delivery of customized rules-based investment solutions, BITA has developed a cutting-edge technology infrastructure that is currently leveraged by exchanges, delta one desks, and asset management firms in their daily operations. The firm’s flagship cloud-based system, BITACore, delivers an extremely intuitive user experience for the design, backtesting, calculation, and dissemination of a large variety of indices, baskets, and custom portfolios.

The investment by SIX aims to strengthen an already successful series of collaborations between both firms. Starting in 2022 with an ongoing partnership to develop a new range of global equity indexes and accelerate the time-to-market for the delivery of customized solutions, the relationship has already expanded to the realm of crypto, where SIX has been leveraging BITA’s calculation infrastructure and APIs on a variety of indexing projects that have delivered significant value to SIX clients.

“At SIX, we are committed to providing innovative and efficient solutions to the Indexing and ETF industry,” says Marion Leslie, Head Financial Information and Executive Board Member, SIX. “Our strategic investment in BITA strengthens our existing partnership and fuels our shared vision of a future where customized indexing solutions are accessible and scalable for all market participants. Together, we will leverage BITA’s cutting-edge technology and SIX’s global reach to deliver even greater value to our clients.”

The collaboration and subsequent investment underpin SIX’s drive to expand its range of market-leading services catering to the ETF sector. From creation to redemption, listing, trading, and custody, including high-quality market, index, and reference data distribution, SIX offers the full spectrum of international ETF services along its value chain as a unique one-stop shop. Ultumus, an ETF data specialist acquired by SIX from ETFS Capital in 2021, is in fact already serving as sales and distribution agent and allowing BITA to reach the sell-side with its newly launched custom basket management solution.

“Our growing, multifaceted business relationship with SIX is a perfect example of how our indexing infrastructure can support financial institutions in scaling their product development, cutting time to market, and increasing their flexibility” says Victor Hugo Gomez, CEO of BITA. “We are delighted to welcome SIX as an investor in BITA and look forward to leveraging their footprint as we continue our path towards becoming the leading investment customization infrastructure”.

The funds raised will be utilized by BITA to enhance the functionality of its infrastructure and continue to expand into additional key markets.

Media Contact:

Jürg Schneider
Head Media Relations
+41 58 399 2129

SOURCE: SIX Group