Scoach, the joint trading platform for structured products in Switzerland and Germany operated by SIX and Deutsche Börse, will be dissolved following a decision by SIX to terminate the cooperation agreement.
The joint venture will end on 30 June and the contributing markets will return to their parent companies.
A source at SIX declined to comment on the reasons behind the decision but told SRP that the move responds to the Swiss exchange's desire to focus on developing the domestic structured products market.
"We teamed up with Deutsche Börse with the knowledge that both markets were different and those differences have become more distinct," he said. "The fact is that we want to focus on the needs of the Swiss market and once the joint venture is dissolved, we will have more freedom to make decisions and improve the coverage of our core market."
SIX also said that the structured products market remains a priority for the exchange as it continues to be a major component of the SIX business portfolio.
SIX is planning to update the market on specific measures and the organisational structure of the exchange for structured products in Switzerland, in due course.
"Trading in structured products is strategically very important for SIX," said Christian Katz, chief executive at the SIX Swiss Exchange. "We therefore intend to focus even more strongly on the needs of the issuer and the Swiss market as a whole in future and provide support with appropriate measures."
SIX and Deutsche Börse AG have been operating the Scoach trading platform for structured products in Switzerland and Germany through a joint venture since 2007.
A spokesperson from Deutsche Börse told SRP that as the agreement had been terminated by SIX Stock Exchange, they had "nothing to add" to the announcement.