The Swiss Exchange (SWX) last week made clear that it has no intention of letting go of its stake in Eurex, the Frankfurt-based electronic derivatives exchange it set up with Deutsche Börse Clearing two years ago.

SWX and Deutsche Börse each have a 50% shareholding in Eurex, which has grown over the past two years to become the world's biggest derivatives exchange by volume. Exchange watchers in Europe have said it makes strong strategic sense for Deutsche Börse to buy out SWX's stake ahead of its initial public offering, planned for the beginning of next year.