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CHAPTER 14 ARTICLE 102 AND CLEARING AND SETTLEMENT SERVICES IN THE BANKING SECTOR

EU competition law and the financial services sector

CHAPTER 14 ARTICLE 102 AND CLEARING AND SETTLEMENT SERVICES IN THE BANKING SECTOR 14.1 INTRODUCTION To date, antitrust issues in relation to this segment of the banking industry arose under Article 102 TFEU, in light of the seminal case Clearstream . 1 In 2004, the Commission found that Clearstream Banking AG, and its parent company Clearstream International SA, had infringed EU competition rules by declining to provide cross-border securities clearing and settlement services and by exercising a discriminatory price practice.

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