Stockholm, January 19, 2018 — The Swedish Patent and Market Court has in a judgement dated January 15, 2018 dismissed all allegations towards Nasdaq of having abused a dominant position in October 2010. The Swedish Competition Authority had claimed that Nasdaq foreclosed the competitor Burgundy from the market by preventing Burgundy from renting space in the datacenter where Nasdaq´s trading engine was located.
The Court establishes that Nasdaq controlled the part of the datacenter where the trading took place. It was Nasdaq who decided who could access this part of the datacenter and how customers could connect to this part of the datacenter.
“Nasdaq has during this seven year investigation denied any wrongdoings and cooperated with the SCA in order to clarify any misunderstandings. Therefore we are pleased that the court has listened to our arguments and concluded that the actions are part of normal competitive behavior, and not an abuse of dominant position, says Andreas Gustafsson, Chief Counsel Europe at Nasdaq.
The purpose of Burgundy´s relocation to the datacenter was, according to the Court, to connect to the part that Nasdaq rented and controlled. But Nasdaq did not have any legal obligations to give Burgundy access to this part, to Nasdaq´s customers located there, nor to the financial infrastructure that Nasdaq had invested in and controlled.
The Court states that Nasdaq has acted in accordance with its contractual rights and not used a dominant position to secure advantages that Nasdaq would otherwise not be able to secure. The Court also notes that it is common practice that exchanges around the world do not let competitors locate in datacenters which they control.
According to the Court, Nasdaq´s legitimate commercial interests have been attacked and Nasdaq has in this situation taken legitimate and proportionate measures that Nasdaq saw necessary to safeguard these commercial interests. The Court also establishes that Nasdaq has not had any intention or strategy to create a competitive disadvantage for Burgundy. In sum, the Court establishes that Nasdaq´s actions therefore should be considered as part of normal competitive behavior and not to constitute an abuse of a dominant position.
About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion. To learn more, visit: http://business.nasdaq.com
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Media Relations Contact: Ulrika Andersson +46 73 449 68 52 ulrika.andersson@nasdaq.com |