SIX and Barclays have entered into a seven-year strategic partnership, the companies announced on Tuesday. The collaboration aims to support the bank’s growth while achieving cost efficiencies.

The collaboration builds on the long-standing business relationship between SIX and Barclays, the statement continued. Barclays will gain access to the comprehensive range of financial data products offered by SIX. This applies to all business areas of the bank, including investment banking, retail banking, wealth management, and corporate services.

In addition, under the partnership, Barclays will contribute to product strategy and the development of new data and analytics products, and will work jointly with SIX to develop innovative client solutions.

Cost Saving Planned

The move is expected to support Barclays’ ongoing strategic transformation, the statement continued. The bank aims to streamline and strengthen its three core business areas, with cost savings of £2 billion planned by 2026.

The broad range of financial information services provided by SIX — including real-time market data, wealth management services, regulatory reporting solutions, and comprehensive multi-asset-class coverage — will play a key role in supporting the bank’s growth and cost management goals, the communiqué added.

«Accelerating our digital transformation with the help of leading market data providers such as SIX is a central component of our expansion strategy,» said Georges Lauchard, COO Global Markets and Wholesale Lending at Barclays.

Barclay's strong presence in key regions such as the U.S. and Asia also fits well with SIX's business model, reinforcing plans for accelerated expansion and the strengthening of its market position in these regions.