10 October 2015

Swedish watchdog raids Nasdaq OMX in data centre competition probe

14 July 2011  |  5183 views  |  0 Stock market newspaper with coins stacked

Swedish competition authorities have raided the offices of Nasdaq OMX as part of a probe into whether the firm is working with data centre operator Verizon to stymie rivals, according to the Financial Times.

Last year local bank-owned MTF Burgundy reported Verizon to the Swedish Competition Authority, claiming it has been blocked from using the US firm's network infrastructure.

Burgundy argued that by not letting it co-locate in its Stockholm data centre, Verizon was "choosing sides" in trading, favouring rival provider Nasdaq OMX.

The watchdog says it has now made "unannounced visits to companies in the financial sector" looking for evidence of anti-competitive co-operation or abuse of a dominant position. It will now analyse the material.

Nasdaq OMX has confirmed to the FT that its offices were raided and says it is co-operating with the enquiry.

Swedish watchdog raids stock exchange - FT (subscription)

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

14 December, 2010
12 November, 2010
25 June, 2008

Related company news


Top topics

Most viewed Most shared
European Parliament rubberstamps Payment S...
9126 views comments | 44 tweets | 57 linkedin
Faster Payments eases access for challenge...
5009 views comments | 20 tweets | 25 linkedin
Chinese hackers breach LoopPay
5003 views comments | 8 tweets | 6 linkedin
London fintech investment in first three q...
4698 views comments | 25 tweets | 19 linkedin
From biometrics to one-time passcodes, Mas...
4693 views comments | 12 tweets | 18 linkedin

Featured job

£100,000 basic, £180,000 OTE + Benefits

Find your next job