Swedish regulators raid Nasdaq over competition

SWEDISH regulators have raided leading local bourse operator Nasdaq OMX Group in a competition probe sparked by a complaint from a small local rival, officials said yesterday.

The raid was carried out last month and was prompted by a complaint filed by new marketplace Burgundy about the actions of US telecoms company Verizon.

The row is over an agreement for Burgundy to house its servers in a Verizon data centre, which also houses Nasdaq servers. Verizon is alleged to have later cancelled the agreement.

Court documents said: “[The Swedish competition authority] wishes to investigate whether OMX has applied pressure on Verizon or threatened to punish Verizon if Verizon concludes an agreement with a competitor to OMX.

“We are cooperating fully with the authorities,” said a Nasdaq OMX spokesman in Stockholm.