SIX has announced that it is to establish a jointly owned company with Nasdaq. The new company, RF Nordic Express AB, will build and operate microwave routes for the transmission of market data from Stockholm to London.

SIX owns and operates the largest microwave network in Europe. Earlier this year it took a majority stake in 12H AG, the operator of its microwave network. This network allows all SIX trading participants to access low-latency market data transmission from Zurich to London, Frankfurt and Milan as well as from Milan to Frankfurt and London.

Refinitiv and the Open Data Institute (ODI) have published a report entitled 'A New Dimension of Data - Building an Open and Trustworthy Alternative Data Ecosystem'.

According to the report, with over a thousand purported alt data sources, hundreds of case studies and millions in global spend, the alt data sector seems to be gaining traction. The alternative data market, however, remains a very small part of the multibillion-dollar market for access to stock market and other financial data.