The move in February by Six Swiss Exchange to end co-operation with Deutsche Börse on retail structured products took market participants by surprise. Bankers say it is connected to the sharper management focus in Zurich on fighting off potential new competitors in the Swiss market.
Few product providers in Germany believe the Scoach Europa structured products exchange in Frankfurt has been making any money, in contrast to the profitable Scoach Switzerland unit. And with little in the way of co-
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