Germany’s Deutsche Boerse targeted by EU antitrust investigation

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German stock exchange operator Deutsche Boerse confirmed on Tuesday that it had been searched as part of an EU investigation into possible antitrust breaches related to derivatives.

The European Commission said on Monday evening that it had carried out surprise inspections at two financial services firms in connection with its investigation, without disclosing their names.

A Deutsche Boerse spokesman told AFP the company was among those under investigation by the EU, confirming earlier media reports.

He added that Deutsche Boerse is “fully cooperating” with investigators.

“We do not comment on ongoing investigations,” he added.

According to the Financial Times and Bloomberg, the second company under investigation is Nasdaq.

The European Commission said on Monday it had “concerns that the companies inspected may have breached EU antitrust rules banning anti-competitive practices”.

“The products covered by the controls are financial derivatives,” it added.

Derivatives are financial contracts whose value depends on the performance of an underlying asset such as bonds, stocks or commodities.

The EU said the raids did not mean the companies should be found guilty of anti-competitive behaviour.

As stated, unannounced investigations are a preliminary stage of the investigation, and there is no legal deadline for concluding investigations into anti-competitive practices.

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