'World's first' art stock exchange is linked to Swiss banks by MACD

In early March, the financial institutions Helvetische Bank AG and Incore Bank AG were successfully connected to ARTEX, the world's first art stock market, by MACD, the leading provider of trading connectivity in Switzerland.

Madilyn Swift

March 26, 2024

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Banking

For the first time, clients of the two Swiss pioneers can now make investments in the fascinating world of art equities. This new asset class can also be traded automatically now that the MACD software has been seamlessly integrated into the core banking systems that are currently in place.

"We are delighted to have ARTEX as a very innovative new partner in the MACD network," says George Macdonald, CEO of MACD. At our conference in the summer of 2023, representatives of the art stock exchange gave an introduction to the MACD community. We are happy to report that two of our clients are currently utilizing the new service, and several more are showing interest. We anticipate a fruitful long-term collaboration and wish ARTEX every success."

The CEO of ARTEX Stock Exchange, Yassir Benjelloun-Touimi, said, "We are thrilled to announce this relationship with a well-recognized player in trading connectivity like MACD. We will be able to provide Swiss investors with the finest trading conditions for art as a new asset class thanks to MACD's technology. The excitement that our platform has created among Swiss banks also shows how powerful the potential is to democratize art investment."

According to Mark Dambacher, CEO of InCore Bank, "We are excited to be leading this innovative project with MACD and ARTEX, introducing the first art stock exchange in history and setting a major milestone in the financial industry." This partnership improves our services and demonstrates our dedication to innovation by enabling our clients to add art equities to their investing portfolios, so diversifying their holdings. We are thrilled to offer our clients a fresh and approachable way to participate in the art market. We believe this business will succeed, and we're dedicated to helping our clients learn more about this emerging asset class."

The first art stock market in the world, ARTEX enables investors to purchase a variety of artworks without needing to possess the original piece of art. Investees have the option of purchasing shares in artworks, which can subsequently be exchanged on the exchange, rather than the full artwork. This makes entry to this hitherto exclusive market more democratic.