SIX, which operates the infrastructure of Swiss and Spanish financial centers, has launched a service to provide clients, advisers and portfolio managers in the wealth advisory industry with tax classifications on individual securities.

The service allows users to analyze the tax consequences of financial products, anticipate the tax costs of investing in that security and find better investment options.

While the existing product “SIX Tax Score” addresses the overall aspect of fiscal adequacy of financial products by examining the tax cost of an investment, “SIX Tax on Instrument” focuses on pre-investment workflows. in wealth advice, allowing a more detailed portfolio simulations and portfolio construction from a tax point of view.

Marion Leslie, Head Financial Information & Executive Board Member, SIX, noted: “This latest tax offering is a great addition to our suite of tax data services, designed to increase efficiency and reduce tax complexity for the consulting industry. in assets, allowing better targeting of investments and portfolios.

“SIX Tax on Instrument” allows clients to access up to 60 data fields per tax regime covering financial products such as stocks, bonds, funds and structured products with tax attributes. income, wealth tax, capital gains and losses tax and generic tax details. The service is designed to help client advisers and portfolio managers achieve superior after-tax returns by providing them with information on tax implications and costs, enabling them to optimize their clients’ investment portfolios.

The launch of the service responds to a growing need of wealth advisers for detailed information on tax cost metrics and additional tax categorization attributes to help them make projections for expected returns, especially important in a regulatory environment of more and more complex. “SIX Tax on Instrument” currently covers the tax jurisdictions of UK, Switzerland and France and plans to expand to 13 other countries in the future, including Belgium, Luxembourg, Italy, ‘Spain and the United States.

The service will be available through a standard reference data feed or through a suitability platform / API to allow easy integration into customers’ existing systems.

SIX worked with Investment Navigator and NOVERAS to develop the service. NOVERAS acts as a content provider, enriches the data received from SIX with additional tax attributes and is responsible for organizing the categorizations of tax data. Investment Navigator receives this enriched data and shares this tax information with users through its platform and API, enabling automated rule-based tax adequacy assessments to identify tax injurious products. Instrument tax data is also available on the Investment Navigator platform for clients with a clear match result for all financial products, cross asset classes.

Following the launch of “SIX Tax Score” in September last year, “SIX Tax on Instrument” is SIX’s second service directly targeting advisers and confirms that SIX operates other parts of the value chain such as the front -office of wealth management. .

SIX operates and develops infrastructure services for the Swiss and Spanish stock exchanges, for post-trade services, banking services and financial information with the aim of increasing efficiency, quality and capacity for innovation on the entire value chain of Swiss and Spanish financial centers.

The company is owned by its users (121 banks). With a workforce of around 3,500 employees and a presence in 20 countries, it generated operating income of CHF 1.38 billion and Group net profit of CHF 439.6 million in 2020.

Investment Navigator launched its flagship service in 2014 providing adequacy assessments with clear results and rationale at ISIN level. Since then, the company has continued to innovate and extend its range of services to holistic offer management solutions in close collaboration with its renowned clients around the world. Investment Navigator is a private company headquartered in Zurich.


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