The European Commission (EC) has conducted a search at the offices of the German stock exchange operator Deutsche Börse. The raid, carried out as part of an 'antitrust' investigation into derivatives markets, sought evidence regarding monopolization plans and market manipulation.
The European Commission announced that unannounced antitrust inspections were carried out at the premises of companies operating in the financial services sector in two member states.
The statement noted that the Commission's inspections do not mean that the companies are guilty of anti-competitive behavior.
Stating that there are concerns that the inspected companies may have violated EU antitrust rules regarding financial derivatives products, the statement noted that the raids were conducted as part of a preliminary investigation into practices suspected of being anti-competitive.
Deutsche Börse is known as one of Europe's most important 'stock exchange operator' companies
IF FOUND GUILTY, IT WILL FACE A FINE OF UP TO 10 PERCENT OF ITS REVENUE
If the European Commission detects any situation contrary to competition or antitrust laws during the investigation, it puts an end to it and can impose high fines on firms of up to 10 percent of their global turnover.
A Deutsche Börse official confirmed that the European Commission raided their institution due to allegations of antitrust violations related to derivatives.
The European Commission has the authority to inspect whether there is any anti-competitive situation in the sectors of companies operating in EU countries.
News Source: AA
