The European Commission has launched an antitrust investigation into Deutsche Boerse AG and Nasdaq Inc., alleging suspected cartel behavior in the derivatives trading market. Authorities believe both companies coordinated to limit competition within Europe, possibly by dividing demand, aligning pricing strategies, or sharing sensitive commercial information. This probe follows a canceled deal between Deutsche Boerse’s European Energy Exchange and Nasdaq’s Nordic power business, which raised initial competition concerns. Raids were conducted at company offices in September 2024 as part of the investigation, gathering preliminary evidence that may breach Article 101 of the Treaty on the Functioning of the EU, prohibiting anti-competitive behavior. The Commission could impose fines of up to 10% of a company’s global turnover if violations are confirmed. This marks another antitrust action targeting the financial services sector in Europe. Past cases involved benchmark manipulation and collusion among traders. It’s important to note that this investigation does not imply guilt, but it highlights the EU’s commitment to ensuring fair competition across all markets.