SIC and euroSIC: Safe Swiss Monetary Community (SSFN) protects different infrastructures …

Anapaya Systems AG

Zurich (ots)

The Swiss National Bank (SNB) and financial market infrastructure provider SIX launched the Secure Swiss Finance Network (SSFN) in November 2021 in close collaboration with telecommunications companies Sunrise, Swisscom and SWITCH, as well as software provider SCiON Anapaya Systems. SSFN is based on SCiON technology and offers the Swiss financial industry greater flexibility, functionality and increased cyber security. As of June 1, the interbank transactions of the SIC and euroSIC payment systems have also been integrated into the SSFN. Thus, in Switzerland alone, transactions worth 300 billion francs a day can be better protected against instability and cyber attacks, which strengthens the Swiss financial center internationally.

The Swiss Interbank Clearing (SIC) system, managed by SIX, requires secure and stable connections and is one of the most critical financial infrastructures in the industry. As of this month, the Swiss National Bank has been using the SSFN to connect to productive SIC and euroSIC systems, proving its leadership and confidence in the network it has helped create.

SSFN is an autonomous network even more resilient than the existing Finance IPNet communication network. SSFN offers superior connectivity and stability, enabling flexible communication with financial market (IMF) infrastructures between market participants. It protects against major internet risks such as distributed denial of service (DDoS) attacks and thus strengthens the cyber security of the Swiss financial center as a whole. Gradually, other services such as the SECOM securities settlement system or ATM Monitoring (electronic ATM tracking) will also be available via SSFN and will replace the current Finance IPNet.

The financial industry has begun the process of migrating its interbank payment transactions in collaboration with its network infrastructure experts. Since all adaptations are done at the network level, end users of commercial applications do not feel the effects of migration.

Fritz Steinmann, Senior Network and Network Security Architect at SIX, at SCiON: “Personal testing in extreme conditions has proven the reliability and resilience of the infrastructure, enabled by control of the path and properties of multiple paths of SCiON-based network architecture. This level of reliability and resilience is a major improvement in ensuring business continuity for current and future uses and applications relevant to the system, not only in the financial sector, but also for other critical infrastructures. ”

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About SIC / euroSIC

SIC is one of the world’s leading real-time gross settlement systems (RTGS) and handles millions of transactions worth more than CHF 300 billion every day. The SIC is therefore of great importance for the proper functioning of the Swiss financial center. euroSIC provides Swiss participating banks with a fast and cost-effective real-time connection to all financial institutions in the EU and the EEA. In contrast, euroSIC allows EU / EEA banks to easily and efficiently conduct euro transactions with Swiss euroSIC participants. More information at: https://www.six-group.com/fr/products-services/banking-services/interbank-clearing/sic.html

About Anapaya

Anapaya Systems SA is a Swiss company that aims to create an international ecosystem that offers SCiON-based services for more reliable, secure and stable networks. Our solutions enable organizations around the world to securely and transparently transfer confidential business data over the network and send information between corporate locations, trusted partners and cloud providers. Anapaya Systems SA is headquartered at Hardturmstrasse 253 in Zurich, Switzerland, and is represented by Martin Bosshardt (CEO) and Samuel Hitz (CTO). https://www.anapaya.net/

Contact:

Contact for marketing and communications: Leah Ladines, ladines@anapaya.net

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