The European Commission is currently carrying out unannounced antitrust inspections at the premises of Deutsche Boerse, The TRADE understands.
“We confirm the EU Commission’s investigation and are fully cooperating. We do not comment on ongoing investigations,” said Deutsche Boerse when approached by The TRADE.
Specifically, the inspection relates to potential violations of EU antitrust rules linked to financial derivatives that prohibit restrictive business practices – Article 101 of the Treaty on the Functioning of the EU, and Article 53 of the EEA Agreement (both include reference to directly or indirectly fix purchase or selling prices or any trading conditions).
The TRADE understands that the alleged actions which led to the raid include undercutting fees to out price competitors, and price dumping.
Unannounced investigations such as these are a preliminary investigatory step, confirmed the regulator, speaking about the process for inspecting suspected anticompetitive practices.
“The fact that the Commission carries out such inspections does not mean that the companies are guilty of anticompetitive behaviour nor does it prejudge the outcome of the investigation itself,” asserted the European Commission.
There is no legal deadline for completing inquiries into anticompetitive conduct, reminded the watchdog in an announcement today. The duration of the investigation depends on factors including case complexity and the extent to which companies in question cooperate with the EC.
“The Commission officials are accompanied by their counterparts from the relevant national competition authorities of the Member States where the inspections are conducted,” asserted the watchdog in an announcement.
The Commission is also carrying out unannounced antitrust inspections at the premises of other companies active in the financial services sector in two member states, The TRADE understands.
More to follow…