EU Commission raids top stock exchange groups over antitrust suspicions

EU officials have raided the offices of two large stock exchange groups over concerns that they might have violated EU antitrust rules.

Deutsche Börse, the EU’s largest exchange company and Nasdaq, whose US parent company is one of the world’s biggest stock exchanges, are both subject to an investigation initiated by the European Commission. 

In a statement, the Commission noted that it, “has concerns that the inspected companies may have violated EU antitrust rules that prohibit restrictive business practices. The products concerned by the inspections are financial derivatives.”

Despite the raids, the Commission noted that these do not mean that the companies were found guilty of anti competitive behaviour, and that the inspections do not prejudge the outcome of the ongoing investigations.

“There is no legal deadline to complete inquiries into anticompetitive conduct. The duration of the investigation depends on a number of factors, including the complexity of each case, the extent to which the companies concerned cooperate with the Commission and the exercise of their rights of defence,” the Commission stated. 

If the investigations find violations of the EU’s antitrust laws, formal investigations and hefty fines could be laid upon the companies.