ZURICH, Dec 7 (Reuters) - German stock exchange operator Boerse Stuttgart GmbH is buying a majority stake in Swiss peer BX Swiss as part of a strategic partnership.
The partners gave no financial terms for the 90 percent stake Boerse Stuttgart will take in BX, the companies said in a joint statement on Thursday.
Investors can trade more than 1,200 shares and 500 funds on BX Swiss, which is supervised by Swiss watchdog FINMA. BX owns the Bern exchange, which focuses on shares in small to mid-sized companies and well as investment funds.
Existing cooperation on technology will expand when BX Swiss next year adopts the Elasticia trading system already in use at Boerse Stuttgart’s Scandinavian unit NGM. (Reporting by Michael Shields, editing by John Revill)