SNB Commissions SIX to Run Swiss Interbank Clearing; SCION Enhances Resilience
1 report, 1 independent
Updated Oct 7
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What happened
The Swiss National Bank commissioned SIX to operate the Swiss Interbank Clearing (SIC) payment system. SCION, an internet architecture, strengthens financial market resilience by allowing users greater control over network paths and enabling traffic to switch rapidly between independently operated providers.
From snb.ch
Why it matters
Financial market infrastructures are critical for allowing payments and financial transactions to be settled safely and efficiently. This action supports the broader goal of promoting safe, resilient, and efficient market arrangements in Switzerland.
Financial institutions must incorporate resilience into their core operational design.
From snb.ch
Who's involved
- ScionProvides an internet architecture that strengthens financial market resilience
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The entities involved
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Scion
New Zealand research institute
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