SIX relaunches Swiss system

SIX has gone live with the new Swiss Interbank Clearing (SIC) payment system which enables banks to process their payments traffic in Swiss francs continuously and even more efficiently.

SIX says the new financial market infrastructure uses the latest hardware and software technologies and facilitates the inexpensive, efficient and future-oriented processing of Swiss payment traffic.

The SIC is the first system of its kind in Europe, based on the ISO 20022 message standard which lowers the number of technical interfaces between participants and the central Swiss financial market infrastructure and reduces the complexity that has grown over time.