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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