Six take a majority stake in Orenda Software Solutions. The company is headquartered in Ontario, Canada and analyzes data related to the environment, society and corporate governance. The deal is expected to close in the first quarter of 2021, according to Six. The exchange operator does not provide any information about financial details.
Orenda offers corporate reputation analysis and especially ESG ratings. This should enable companies, for example, to assess whether they are operating sustainably and to what extent or social impacts a particular business decision might have.
ESG stands for Environmental, Social and Corporate Governance. Financial institutions rate sustainable investment products under the keyword ESG. The Swiss Bankers Association published one recently A guide to incorporate ESG standards to advise private clients.
More knowledge of alternative data sets and environmental, social and institutional governance
According to the announcement, Orenda hopes that Six’s participation will lead to an increase in the number of clients and the opportunity to develop new offerings based on Six’s stock database. Six, in turn, expects the deal to provide more knowledge regarding alternative data sets, data science, and environmental, social and corporate governance. The message goes on to say that the company wants to support customers in gaining knowledge from the data and thus the ability to make faster and better decisions.
Switzerland missed out on taking a global leader in the fintech sector early on – but now there is a new opportunity for the Swiss financial center, Netzwoche columnist Rino Borini writes in “Wild Card”. “The new buzzword is sustainable finance.” Core components: Technology and sustainability startups with expertise. “Innovative startups will be the engine, because thanks to the effective use of digital technologies they can act as innovation partners for traditional financial players on the one hand, and on the other hand they can partially replace banks and asset managers the value chain.” Borini writes. Read his article here: “Green Fintech – Allez la Suisse!”