EU regulator probes Thomson Reuters on anti-trust concerns

(BRUSSELS) - European Union competition regulators announced Tuesday they were investigating Canadian news and financial data firm Thomson Reuters on suspicion it had abused its dominant market position.

"The European Commission has opened formal anti-trust proceedings against Thomson Reuters ... concerning a potential infringement of (EU) rules on abuse of a dominant market position," the bloc's competition regulator said.

The commission said it would probe whether the firm prevents customers or competitors from translating special alphanumerical codes on its data feed identifying securities and their trade locations.

Brussels said it wants to see people prevented from translating the Reuters Instrument Codes into other identification codes, forcing them to work with the company if they want real-time data like stock exchange information.

The commission, which opened the inquiry on its "own initiative", said the fact that it has started proceedings does not imply guilt, but only that it will conduct an "in-depth investigation of the case as a matter of priority".