SIX, a Swiss company specializing in providing financial data and market infrastructure, has entered into a seven-year strategic partnership with Barclays Bank to support the bank’s international expansion and increase efficiency across its global operations.
The agreement will give Barclays access to SIX’s suite of financial information services, including real-time market data, regulatory reporting tools and cross-asset data solutions, covering its investment banking, retail, wealth and corporate businesses.
Barclays will also collaborate with SIX on product development and creation of new data-driven solutions.
The deal comes as the bank undertakes a strategic reform aimed at streamlining operations and cutting costs by £2 billion by 2026.
Marion Leslie, CIO and executive board member at SIX, said the partnership “will play a pivotal role in Barclays’ impressive growth story”, adding that access to advanced data capabilities will be “essential in protecting margins and laying the foundations for growth”.
“Accelerating our digital transformation with the help of leading market data vendors like SIX is a core tenet of our expansion strategy,” said George Lauchard, chief operating officer of global markets and wholesale lending at Barclays.
The partnership also strengthens SIX’s international footprint, in line with its recent product launches, including new fixed income and digital asset data services, as it expands its reach into key global markets such as the US and Asia.