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Swedish watchdog raids Nasdaq OMX in data centre competition probe

14 July 2011  |  5632 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)

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