SWX Rules Out Merger With Deutsche Börse
Despite the potential advantages of a merger between the Swiss stock exchange
(SWX) and Germany's Deutsche Börse, the former announced last week that it had
rejected the German exchange's merger offer, although it added that it is open
to other forms of cooperation. SWX is controlled by 55 banks, which all have equal voting rights, and are
likely to have been concerned by the potential for regulatory hurdles and loss
of banking secrecy which could result from a merger with an EU-based organisation. Responding to the statement issued by SWX last Friday, Deutsche Börse announced
that it would like to commence talks on increasing cooperation between the two
exchanges "so we can expand our existing partnership". Deutsche Börse and the Swiss Stock Exchange are already joint owners of the
Eurex exchange, which trades futures and derivatives. .
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