Stockholm Stock Exchange's shareholders under the investigation for bridge of competition guidelines


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Tuesday, 12 July 2011
The Swedish Competition Authority suspects that the Stockholm Stock Exchange, OMX owners have created a situation where competitions in trade in Nordic securities have been constricted to give them unfair advantage. As such the company  is being looked into.

It is alleged that OMX would have tried to make it such that subcontractor, Verizon had to opt out rival Burgundy as a client. Therefore it is suspected that OMX acted in contravention of competition law.
“We suspect it and have begun an investigation,” said Jimmy Dominius, Press Secretary of the Swedish Competition Authority (KKV), according to various Swedish news reports.


It is held that it was agreed that moves were made for telephone company Verizon to foreclose rival Burgundy.
“Burgundy has been refused to rent space in the data centre where our customers are, and no reason is specified. We had a deal, it was all cut and dried, and then suddenly Verizon backed off from it," says Olof Neiglick, president of Burgundy to Swedish news agency.

KKV has in recent weeks made unannounced visits to the Stockholm Stock Exchange.
“I can confirm that the Competition Authority carries out an investigation relating to Nasdaq OMX and that it originated in a complaint last December against our supplier of data center space,” said Carl Norell, press officer at Nasdaq OMX.
By Team

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