West Ham were said to be in talks with Arsenal for the midfielder this week.
Gunners boss Mikel Arteta said on Friday: "I'm really happy with Emile. He's in the right trajectory. He's settled really well and you know I'm not going to talk about individual situations
"No changes. Emile is Emile. We're really happy to have him. He needs chances. What we have to do is give him minutes."