SWX Swiss Exchange has taken over Bremer Wertpapierbörse AG. Under the leadership of Frankfurt
partner Dr Andreas Zanner, a team from CMS Hasche Sigle advised SWX on the transaction. The
purchase price has not been disclosed.
SWX Swiss Exchange, a company belonging to the SWX Group, is technologically one of the
leading stock exchanges; it has a fully automatic trading, clearing and settlement system unique in
the world. By means of this takeover SWX intends to develop "Börse für Deutschland" as the
successor organisation to Bremer Wertpapierbörse. The new marketplace is a purely electronic stock
exchange in which the issuers of warrants and certificates directly publish their quotes and to
which the investors can react directly. For this purpose SWX will use a new trading platform which
will be available from October of this year. This is particularly suited to trading securities
which require considerable market maker capacity, such as certificated derivatives and structured
products, exchange traded funds or bonds. Through the former Bremen Stock Exchange the system will
be linked to Xontro, the system for the German trading floors. Trade is scheduled to commence in
Germany in 2006.
Advisers to SWX Swiss Exchange
CMS Hasche Sigle
Dr Andreas Zanner, lead partner, Frankfurt (stock exchange law, corporate)
Dr Hendrik Hirsch, associate, Frankfurt (corporate)
Dr Malte Grützmacher, associate, Hamburg (IT)
Dr Rupert Doehner, associate, Frankfurt (stock exchange law)
CMS GmbH Steuerberatungsgesellschaft for the tax und financial due diligence
Dr Kurt Gratz, coordinator
Contact CMS Hasche Sigle:
Dr Andreas Zanner
Tel.: +49 (0) 69 / 71701-139
CMS Hasche Sigle is one of the leading German law firms with more than 420 lawyers. It covers
the entire area of commercial law and provides legal advice to major German and international
companies from a wide spectrum of industry.
CMS Hasche Sigle operates at all the major business centres. It has offices in Berlin,
Cologne, Duesseldorf, Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz, Dresden, Brussels,
Belgrade, Moscow, Prague and Shanghai.
CMS Hasche Sigle is a partnership of lawyers and tax consultants; for register details / list
of partners see
CMS Hasche Sigle is a member of CMS, an alliance of leading European law firms. With over 575
partners, a total of 2,000 lawyers and tax consultants and around 3,800 support staff we advise our
clients in 24 countries in Europe and further afield on legal and tax issues.
Local strength and legal tax advice tailored to the requirements of the market combined with
a substantial amount of business and organisational integration form the basis for high-quality
international legal advice.
In addition to CMS Hasche Sigle, the following firms are also members of the CMS alliance:
CMS Adonnino Ascoli & Cavasola Scamoni (Italy), CMS Albiñana & Suárez de Lezo (Spain), CMS
Bureau Francis Lefebvre (France), CMS Cameron McKenna LLP (Great Britain), CMS DeBacker (Belgium),
CMS Derks Star Busmann (the Netherlands), CMS von Erlach Klainguti Stettler Wille (Switzerland) and
CMS Reich-Rohrwig Hainz (Austria). CMS has 57 offices in 24 countries in Western and Central
Europe, North and South America, Asia and North Africa.
For further information on CMS Hasche Sigle see
and on the CMS alliance see