{"id":7075,"date":"2025-11-10T11:43:16","date_gmt":"2025-11-10T10:43:16","guid":{"rendered":"https:\/\/core-attorneys.com\/?p=7075"},"modified":"2025-11-11T12:19:31","modified_gmt":"2025-11-11T11:19:31","slug":"eu-kommission-leitet-untersuchung-gegen-deutsche-boerse-und-nasdaq-wegen-moeglicher-absprachen-im-derivatehandel-ein","status":"publish","type":"post","link":"https:\/\/core-attorneys.com\/en\/news-insights\/eu-kommission-leitet-untersuchung-gegen-deutsche-boerse-und-nasdaq-wegen-moeglicher-absprachen-im-derivatehandel-ein\/","title":{"rendered":"EU Commission launches Investigation into Deutsche B\u00f6rse and Nasdaq \nfor possible Collusion in Derivatives Trading"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"7075\" class=\"elementor elementor-7075\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-5e192929 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"71944\" data-id=\"5e192929\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-328c9e8\" data-eae-slider=\"26316\" data-id=\"328c9e8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1457845 elementor-widget elementor-widget-image\" data-id=\"1457845\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"825\" height=\"495\" src=\"https:\/\/core-attorneys.com\/wordpress\/wp-content\/uploads\/2025\/11\/20251110-Investigation-into-possible-Collusion-in-Derivatives-Trading.jpg\" class=\"attachment-full size-full wp-image-7073\" alt=\"\" srcset=\"https:\/\/core-attorneys.com\/wordpress\/wp-content\/uploads\/2025\/11\/20251110-Investigation-into-possible-Collusion-in-Derivatives-Trading.jpg 825w, https:\/\/core-attorneys.com\/wordpress\/wp-content\/uploads\/2025\/11\/20251110-Investigation-into-possible-Collusion-in-Derivatives-Trading-300x180.jpg 300w, https:\/\/core-attorneys.com\/wordpress\/wp-content\/uploads\/2025\/11\/20251110-Investigation-into-possible-Collusion-in-Derivatives-Trading-768x461.jpg 768w, https:\/\/core-attorneys.com\/wordpress\/wp-content\/uploads\/2025\/11\/20251110-Investigation-into-possible-Collusion-in-Derivatives-Trading-18x12.jpg 18w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-a76e28a\" data-eae-slider=\"581\" data-id=\"a76e28a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-99081b4 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"99081b4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">EU Commission launches Investigation into Deutsche B\u00f6rse and Nasdaq \nfor possible Collusion in Derivatives Trading<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f29e2b elementor-widget elementor-widget-post-info\" data-id=\"5f29e2b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-685ec73 elementor-inline-item\" itemprop=\"about\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-tags\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-terms\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-post-info__terms-list\">\n\t\t\t\t<span class=\"elementor-post-info__terms-list-item\">Competition<\/span>, <span class=\"elementor-post-info__terms-list-item\">News<\/span>\t\t\t\t<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-d50ae70 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-calendar\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>10.11.2025<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-ec6c601 elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-user-circle\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-custom\">\n\t\t\t\t\t\t\t\t\t\tMario Strebel, Fabian Koch\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d17332b elementor-widget elementor-widget-text-editor\" data-id=\"4d17332b\" data-element_type=\"widget\" data-e-type=\"widget\" data-no-translation=\"\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>.elementor-element-4d17332b{display:none !important}<\/style>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6fdab6 elementor-widget elementor-widget-text-editor\" data-id=\"e6fdab6\" data-element_type=\"widget\" data-e-type=\"widget\" data-no-translation=\"\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>.elementor-element-e6fdab6{display:none !important}<\/style>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0bcb7c3 elementor-widget elementor-widget-text-editor\" data-id=\"0bcb7c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-no-translation=\"\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"158\" data-end=\"497\"><strong>According to a press release dated 6 November 2025, the <a href=\"https:\/\/commission.europa.eu\/index_en\" target=\"_blank\" rel=\"noopener\">European Commission<\/a> has opened an investigation into possible anticompetitive collusion between Deutsche B\u00f6rse and Nasdaq. The inquiry concerns a potential coordination relating to the listing, trading, and clearing of financial derivatives within the European Economic Area (EEA).<\/strong><\/p><p data-start=\"499\" data-end=\"892\"><strong>Background<\/strong><\/p><p data-start=\"499\" data-end=\"892\">Deutsche B\u00f6rse operates key components of the European financial market infrastructure. Its activities include the listing and trading of securities and derivatives, the clearing and settlement of transactions, as well as the provision of market data and trading systems. Within the group, Eurex serves as the leading platform for derivatives trading and clearing in the EEA.<\/p><p data-start=\"894\" data-end=\"1155\">Nasdaq is a global provider of exchange and technology services. In addition to operating stock exchanges in the United States, it also runs trading venues in Europe and offers listing, trading, and clearing services for a wide range of financial instruments.<\/p><p data-start=\"1157\" data-end=\"1316\">Both companies therefore play a central role in the global derivatives market and are key competitors in the European financial market infrastructure sector.<\/p><p data-start=\"1318\" data-end=\"1801\"><strong>Considerations of the European Commission<\/strong><\/p><p data-start=\"1318\" data-end=\"1801\">Already in September 2024, the <a href=\"https:\/\/commission.europa.eu\/index_en\" target=\"_blank\" rel=\"noopener\">European Commission<\/a> carried out inspections at both companies\u2019 premises. They are suspected of having coordinated their conduct within the EEA in breach of Article 101 TFEU and Article 53 of the EEA Agreement, with the aim of not competing with each other in certain segments of derivatives trading (including allocation of demand, price coordination, and the exchange of sensitive business information).<\/p><p data-start=\"1803\" data-end=\"2157\"><strong>Assessment<\/strong><\/p><p data-start=\"1803\" data-end=\"2157\">For financial institutions and market participants, the case underscores the sensitivity of antitrust risks in the context of cooperation and information exchange between competitors, even in the financial sector. Companies are well advised to review and, where necessary, update their compliance frameworks on a regular basis.<\/p><p data-start=\"2159\" data-end=\"2286\">The European Commission\u2019s press release can be found <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_25_2580\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0b3fb0 elementor-widget elementor-widget-text-editor\" data-id=\"c0b3fb0\" data-element_type=\"widget\" data-e-type=\"widget\" data-no-translation=\"\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>CORE Attorneys is a boutique law firm in Switzerland, focusing on <a href=\"https:\/\/core-attorneys.com\/en\/expertise\/wettbewerbsrecht\/\">competition\/antitrust law<\/a>, <a href=\"https:\/\/core-attorneys.com\/en\/expertise\/regulierung\/\">regulatory<\/a> and <a href=\"https:\/\/core-attorneys.com\/en\/expertise\/vertriebsrecht\/\">distribution law<\/a> matters. Visit our <a href=\"https:\/\/core-attorneys.com\/en\/news-insights\/\">News &amp; Insights<\/a> and follow us on <a href=\"https:\/\/www.linkedin.com\/company\/core-attorneys\">LinkedIn<\/a> for regular updates on all our focus areas.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Gem\u00e4ss Medienmitteilung vom 6. November 2025 hat die Europ\u00e4ische Kommission eine Untersuchung zu m\u00f6glichen wettbewerbswidrigen Absprachen zwischen der Deutschen B\u00f6rse und der Nasdaq er\u00f6ffnet. Gegenstand ist eine m\u00f6gliche Abstimmung im Zusammenhang mit der Notierung, dem Handel und dem Clearing von&#8230;<\/p>","protected":false},"author":1,"featured_media":7073,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"EU-Kommission leitet Untersuchung gegen Deutsche B\u00f6rse und Nasdaq wegen m\u00f6glicher Absprachen im Derivatehandel ein","_seopress_titles_desc":"EU-Kommission leitet Untersuchung gegen Deutsche B\u00f6rse und Nasdaq \r\nwegen m\u00f6glicher Absprachen im Derivatehandel ein","_seopress_robots_index":"","footnotes":""},"categories":[10,9],"tags":[698,227,699,696,42,421,700,56,697,319,76],"class_list":["post-7075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-competition","category-neuigkeiten","tag-absprachen","tag-compliance","tag-derivatehandel","tag-deutsche-boerse","tag-eu","tag-eu-kommission","tag-finanzmaerkte","tag-kartellrecht","tag-nasdaq","tag-untersuchung","tag-wettbewerbsrecht"],"_links":{"self":[{"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/posts\/7075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/comments?post=7075"}],"version-history":[{"count":17,"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/posts\/7075\/revisions"}],"predecessor-version":[{"id":7092,"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/posts\/7075\/revisions\/7092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/media\/7073"}],"wp:attachment":[{"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/media?parent=7075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/categories?post=7075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/core-attorneys.com\/en\/wp-json\/wp\/v2\/tags?post=7075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}