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SIX and Nasdaq establish microwave data company

April 07, 2020 / finextra

The Swiss Stock Exchange is to establish a jointly owned company with Nasdaq with the aim of building the largest microwave data transmission network in Europe. The new company, RF Nordic Express AB will build and operate microwave routes for the transmission of market data from Stockholm to London. SIX began offering microwave trading routes in Europe in 2018 through Zurich-based joint venture 12H AG, in which the Exchange now holds a majority stake. Connecting Zurich to London, Frankfurt and Milan as well as Milan to Frankfurt, microwave technology allows trade data for all securities listed at SIX to be transmitted more than twice as fast as connections based on commonly used fiber optic technology, giving traders an edge in fast-moving markets.