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Sweden: Competition regulator sues Nasdaq OMX for market abuse

By  |  May 28, 2015

The Swedish Competition Authority is taking legal action against stock exchange operator Nasdaq OMX Group, alleging that the firm’s Stockholm Stock Exchange abused its market dominance to the detriment of a rival – Burgundy – that catered to high frequency traders.

The antitrust agency, in a 28 May statement, has demanded that Nasdaq OMX pay €3.3million penalties and administrative fines.

Competition Authority Director-General Dan Sjöblom commented: “Companies that have previously held monopolies have a particular responsibility, as they start out with competitive advantages and market power. For Burgundy and its clients, this did not end well, as Burgundy no longer exists.”

 

Full content: Bloomberg

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