Swiss Resist Deutsche Börse Expansion

The Frankfurt-based Deutsche Börse's expansion plans are being met with resistance. In July, the German stock exchange approached its Swiss counterpart, the Schweizer Börse, about possible "closer cooperation." Members of that body's advisory board, however, are not very enthusiastic about the plan, according to a report in the Financial Times Deutschland. "We can't imagine that there is a practical model for such a merger and financial considerations aren't everything," a member of the board, who declined to give his name, is quoted as saying. The board is expected to meet on Friday to vote on the proposal, the approval of which requires just a simple majority. Financial experts have long recommended the consolidation of the European markets, but efforts have been handicapped by national sensitivities.