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Deutsche Boerse, Nasdaq targetted in EU antitrust probe
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Deutsche Boerse, Nasdaq targetted in EU antitrust probe
Sep 24, 2024 6:50 AM

BERLIN, Sept 24 (Reuters) - Deutsche Boerse

and Nasdaq are being investigated as part of an

European Union probe into possible antitrust violations in

financial derivatives.

A spokesperson for Deutsche Boerse said on Tuesday the

German stock exchange operator had been searched as part of the

investigation, while a representative for Nasdaq said it had

also been approached. Both companies said they were cooperating.

The European Commission said on Monday it had conducted

unannounced inspections at financial services companies in two

EU member states over possible breaches of antitrust

regulations, but did not specify which firms or how many.

"We do not comment on ongoing investigations," the Deutsche

Boerse spokesperson added.

A Stockholm-based spokesperson for Nasdaq declined to

comment on which country or countries Nasdaq had been contacted

in.

"We are aware of an investigation initiated by the European

Commission involving the derivatives market. Nasdaq is committed

to fully cooperate with the European Commission and support the

relevant authorities with the investigation," the person said.

Euronext, which runs stock markets in various

cities including Paris and Amsterdam, said it was not the

subject of "any inspections or investigations" by the

Commission.

Unannounced visits are a preliminary step in probes into

suspected anticompetitive practices and do not mean the firms

are guilty. There is no legal deadline to finish inquiries into

such conduct, according to the EU.

If the inspections reveal violations of EU antitrust laws,

it could trigger formal investigations and significant fines for

the companies involved.

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