Zurich (CH), 26.03.2024 – MACD, the leading provider of trading connectivity in Switzerland, successfully connected the financial institutions Helvetische Bank AG and Incore Bank AG to ARTEX, the world's first art stock exchange, at the beginning of March.
Customers of the two Swiss pioneers can now invest in the exciting world of art stocks for the first time. Thanks to the seamless integration of the MACD software into the existing core banking systems, this new asset class can now also be traded automatically
George Macdonald, CEO MACD says: "We are delighted to have ARTEX as a very innovative new partner in the MACD network. After representatives of the art stock exchange introduced themselves to the MACD community at our conference in summer 2023, we are now proud to announce that two of our customers are already using the new service and several more are interested. We look forward to a long-term partnership and wish ARTEX every success."
Yassir Benjelloun-Touimi, co-founder and CEO of ARTEX MTF declared: "We are delighted to announce this partnership with a well-recognized player in trading connectivity like MACD. MACD's technology will enable us to offer Swiss investors the best trading conditions for art as a new asset class. The enthusiasm generated by our exchange platform among Swiss banks also demonstrates the very strong potential for democratising investment in art."
Mark Dambacher, CEO InCore Bank explains: "We are thrilled to be at the forefront of this pioneering venture with MACD and ARTEX, marking a significant milestone in the financial industry by introducing the world's first art stock exchange. This collaboration not only highlights our commitment to innovation but also enhances our offerings, allowing our clients to diversify their investment portfolios by including art stocks. We are excited to provide our clients with an opportunity to engage in the art market in a novel and accessible manner. We anticipate a bright future for this venture and are committed to supporting our clients as they explore this new asset class."
ARTEX is the world's first art stock exchange that allows investors to invest in different artworks without having to own the actual physical artwork. Instead of buying an entire artwork, investors can buy shares in an artwork, which can then be traded on the exchange. This democratises access to this traditionally rather elitist market.
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About ARTEX
ARTEX operates a secure and liquid art shares exchange, regulated and supervised by the Financial Markets Authority of Liechtenstein within the European MiFID II legislative framework. Providing easy access to a traditionally exclusive fine art market, ARTEX aims to democratise investing in artworks from the world’s greatest masters, spanning a period from the Renaissance to the twentieth century. ARTEX-listed masterpieces will be on public display, in museums and exhibitions around the world. ARTEX was co-founded in 2020 by art enthusiasts and financial markets experts H.S.H. Prince Wen-ceslas of Liechtenstein and Yassir Benjelloun-Touimi. www.artex-stockexchange.com
“ARTEX MTF” is a Multilateral Trading Facility operated by ARTEX MTF AG, a Company incorporated in the Principality of Liechtenstein under company number FL-0002.682.571-2 with registered offices at Wuhrstrasse 6, 9490 Vaduz, Liechtenstein. ARTEX MTF is regulated by the Financial Markets Authority under reference number 307407.
About InCore Bank
InCore Bank is a B2B transaction bank founded in 2007 and trusted by numerous private banks, securities firms, asset managers, institutional investors and fintech companies. The Swiss company with a banking and securities firm license stands for a highly capable comprehensive package: from traditional banking to digital assets, outsourcing, white-label investment products and other services. In 2020, InCore Bank became the first B2B bank to receive FINMA approval for banking services with digital assets. This makes it the first choice for companies when it comes to secure access to digital assets. InCore Bank feels at home in both the traditional and digital world. www.incorebank.ch
About MACD
As specialist for electronic trading, MACD has been successfully developing products and services for financial institutions for more than 20 years.The company is market leader in trading connectivity in Switzerland. More than 60 banks and exchanges across Europe trust in the comprehensive range of services in software development, project management, consulting, hosting and support. Around 40 IT engineers, computer scientists and economists are working on innovative solutions at locations in England, Germany and Switzerland. Since 2004 MACD has been a member of the FIX Trading Community, where George Macdonald, CEO MACD has been involved in various roles, including director. www.macd.com
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