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Its operations, which include the Spanish and Swiss stock exchanges, count as critical national infrastructure and this gives it a close relationship with governments and regulators in Madrid and Zurich.

The hack earlier this month on the Wall Street arm of China’s biggest bank, ICBC Financial Services, has put cybersecurity at the forefront of economic security debates again.

The move disrupted the US Treasury market by forcing ICBC FS clients to reroute trades, with some settled by couriering the details across Manhattan on a USB stick.

Still, the scale and nature of the ransomware onslaught – the same kind of attack that triggered a shutdown of money transfer service Travelex in 2020 – underlines the evolving risk such companies face.

Six Group has invested in three tranches of cybersecurity, Dijsselhof says: walls to stop people getting in; containment systems for if they do get in; and recovery functions for when someone is “holding hostage” any part of the business.

After “social engineering” efforts using personal details to target staff were uncovered, badges no longer carry last names, clean-desk policies are far more strictly enforced and the processing and communication of sensitive information is now subject to higher bars of regular mandatory training.

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