Swiss Stock Exchange Services (SWX Group) and Deutsche Borse today combined their trading facilities in structured products. The supervisory board of Deutsche Borse and the federal cartel office (Bundeskartellamt) have given their approval for the partnership to go ahead.
Contrary to previous announcements, the new company will initially use the introduced trademark “Borse Frankfurt Smart Trading” for the German market and “SWX Quotematch” for the Swiss market. This will avoid usage problems in Europe relating to the delineation of the name that was originally chosen.
The new company unites the strength of the SWX Group and Deutsche Borse in a market segment with considerable growth potential. The first step will be for the joint venture to parent a new exchange to which the SWX will outsource its business in warrants and structured products. The new company will also become a partial owner of the warrant-certificate and certificate trades at the Frankfurt Stock Exchange.
The new company will be domiciled in Luxembourg and have subsidiaries in Germany and Switzerland. Its objective is to become the leading European exchange for the market segment of structured products.