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EU antitrust regulators launched an investigation on Tuesday into news and financial data publisher Thomson Reuters' use of its real-time market datafeed, saying it might block users
moving to rival firms.
The European Commission, which polices competition in the 27-country European Union, said the investigation was launched on its own initiative and that it did not imply it had proof of an infringement.
The Commission said it would examine whether Thomson Reuters [TRI
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] could prevent clients from mapping Reuters Instrument Codes (RICs) to alternative identification codes of other datafeed suppliers.
"Without the possibility of such mapping, customers may potentially be'locked'-in to working with Thomson Reuters because replacing RICs by reconfiguring or by rewriting their software applications can be a long and costly procedure," it said in a statement.
RICs -- short, numerical codes that identify securities and their trading locations -- are used to retrieve information from Thomson Reuters' real-time datafeeds which are virtual pipelines of electronically distributed real-time market data that feeds software applications developed by banks and financial institutions.
The company was formed last year by the merger of Thomson and Reuters Group. Its markets division competes with Bloomberg and News Corp.'s [NWS
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] Dow Jones Newswires.
There is no strict deadline for the Commission to complete its investigation.
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Data is a real-time snapshot *Data is delayed at least 15 minutes