COMPETITION : CFI CONFIRMS CLEARSTREAM'S ABUSE OF DOMINANT POSITION.

A second Clearstream case has just been wrapped up by the European judicial system. The Court of First Instance confirmed, on 9 September, Clearstream's abuse of dominant position, established in June 2004 by the European Commission in the area of cross-border clearing and settlement services (Case T-301/04). The Commission welcomed the ruling.

Clearstream International (CI) and its German subsidiary, Clearstream Banking AG (CBF), were accused by the Commission of having refused, from December 1999 to November 2001, to provide certain primary clearing and settlement services to Euroclear for securities issued in Germany and of...