Commission publishes amicus curiae observations in Austrian freight forwarding case
(Case C-681/11 Bundeswettbewerbsbehörde and Bundeskartellanwalt v Schenker, cartel, intention-related or negligence-related conditions for imposing a fine - Impact of legal advice or of a decision of a national competition authority - Power of a national competition authority to find the infringement of European Union competition law without imposing a fine)
5 July 2013
Commission takes the preliminary view that the banks acted collectively to shut out stock exchange
Between 2006 and 2009, Deutsche Börse and the Chicago Mercantile Exchange tried to enter the credit derivatives business. The exchanges turned to ISDA and Markit to obtain necessary licenses for data and index benchmarks, but, according to the preliminary findings of the Commission, the banks controlling these bodies instructed them to license only for "over-the-counter"trading purposes and not for exchange trading. Several of the investment banks also sought to shut out exchanges in other ways, for example by coordinating the choice of their preferred clearing house.
1 July 2013
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