Amsterdam district court has ordered the Euronext stock exchange to grant membership to trading venture TOM, the Financieele Dagblad reports on Tuesday.
Tom´s owners – ABN Amro, internet bank BinckBank and options house Optiver – took the issue to court, arguing Euronext was ‘abusing’ its position of power in ‘what would seem to be the ultimate effort to prevent TOM… developing into a competitor’.
Dutch trading houses and banks have complained for years about the high fees which Euronext charges, because of the lack of competition. TOM claims to be able to process orders more cheaply.
Euronext is considering further legal action, the paper says.
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