SNB and SIX Partner to Launch the Secure Swiss Finance Network Communication Network

SIX, a provider of financial market infrastructure services, today announced that it has partnered with SNB to launch the Secure Swiss Finance Network (SSFN) communication network to further improve the resilience of the financial system against cyber risks.

The SSFN is expected to roll out in November 2021 and will initially run in parallel with SIX’s existing, already highly secure communication service. The SSFN will replace this service in the medium term however, due to its superior flexibility and functionality.

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As detailed in the official press release, the SSFN is a monitored and protected network that allows authorised participants operating in the Swiss financial centre to communicate securely with each other and with financial market infrastructures. This is intended to increase the security and stability of communication with the SIC payment system and other SIX services. The launch of the SSFN should make a significant contribution to combating cyber risks.

The network is based on SCION technology developed at ETH Zurich, aiming at secure, flexible and resilient data communication. This network architecture makes it possible to control which parties may use the communication network and which path data take when being transmitted from sender to receiver.

The SSFN has been developed in close collaboration with the telecommunications companies Sunrise UPC, Swisscom and SWITCH as well as the SCION software provider Anapaya Systems. The participation of several telecom companies improves the resilience and flexibility of communication within the network.

SIX has completed the acquisition of ULTUMUS LTD​, the leading ETF and index data specialists, on 12 July 2021. Terms of the deal were not disclosed. ​The latest acquisition is expected to enhance SIX’s data offering and to support its overall strategy to bring new data to its clients in a fast growing market, making trading in ETFs more transparent and efficient for customers.