The new head of data at the Swiss exchange operator is making a purchase in Canada. With it, SIX strengthens its offering in the sustainability area.
SIX is acquiring a majority stake in Orenda Software Solutions in the province of Ontario, Canada, through a growth equity investment, according to a statement from the Swiss exchange operator on Tuesday.
Founded in 2015, the Canadian company operates an information platform based on artificial intelligence (AI). Orenda provides real-time sustainability ratings and insights about a company's image. This can be used to measure the so-called ESG factors of an investment in the relevant company. SIX didn't say how much it paid for the stake.
More Opportunities in the Data Business
The acquisition is part of SIX's strategy to help clients gain more insights from data and provide ready-to-use data and analytics for faster and more informed decision-making, it added on Tuesday. The acquisition is also a coup for the exchange operator's new head of data, Marion Leslie.
She had joined SIX in Switzerland a year ago from Refinitiv in London, a provider of financial market data and infrastructure owned by investment firm Blackstone and Reuters. «As we bring our capabilities and the expertise of our teams together, we see a lot of opportunities to build new propositions supporting the growth of impact investing,» Leslie commented in the release.
