Nasdaq OMX Raided in Sweden by Competition Agency (Verizon implicated too)

[stockholmer]

http://www.bloomberg.com/news/2011-07-14/nasdaq-omx-raided-in-sweden-by-competition-agency-ft-reports.html


Nasdaq OMX Group Inc. (NDAQ) was raided in Sweden last month by government inspectors probing whether the company is impeding competition among Nordic exchanges, the Financial Times reported, citing the Swedish regulator. The information was made public this week, the newspaper said.

U.S. telecommunication company Verizon Communications Inc. (VZ) is also part of the investigation, after complaints last year by Burgundy, a trading platform backed by Nordic banks and brokers, that it colluded with Nasdaq OMX to bar other exchange operators from a data center, the FT said.

“We can confirm that we are cooperating with the competition authorities,” Frank De Maria, a spokesman for New York-based Nasdaq OMX Group Inc., wrote in an e-mail.

“Verizon is cooperating with the competition authority, but we do not comment on ongoing investigations, or customer activities,” said Peter Lucht, Verizon’s executive director for global public relations, in an e-mailed statement.


http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201107131448dowjonesdjonline000488&title=sweden-probes-bourse-data-centers-on-competition-concernsft

http://www.kkv.se/t/NewsPage____7533.aspx

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This type of governmental watchdog raid needs to be happening now in the US on a scale 100's of times larger. :thumbsup:

[xchrom]

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