The European Commission is market testing Thomson Reuters’ commitments regarding its Reuters Instrument Codes (RICs). The commitments are to resolve the Commission’s concerns that Thomson Reuters is abusing its dominant position in the market for consolidated real-time datafeeds. RICs are used by financial institutions to identify securities and their trading locations. Among other uses, RICs are used to retrieve data from Thomson Reuters’ real-time datafeeds.
The Commission is of the view that Thomson Reuters may be prohibiting its customers from using the RICs to get data from alternative providers and cross-referencing the RICs to alternative codes by other suppliers. Such practices create and substantially heighten switching barriers for customers.
Thomson Reuters offers to allow customers to license additional RIC usage rights for switching purposes. In addition, customers may use RICs to retrieve data from alternative providers and Thomson Reuters will provide the necessary information to cross-reference RICs to alternative codes. The commitments improve upon an earlier proposal, which was found to be flawed in a first market test, by extending the scope of the license to cover all RICs and reducing the license fee.
Full content: EC Press Release
Related content: Coordination and Lock-In: Competition with Switching Costs and Network Effects
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI