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FINANCIAL TIMES, FTSE, GOLDMAN SACHS & MCGRAW HILL SEEK CLEARANCE FOR FINAN CIAL MARKETS AGREEMENTS.

The European Commission's Competition Directorate-General has received an application for negative clearance from EU rules on restrictive business practices from the Financial Times, Goldman Sachs, The McGraw Hill Companies Inc and FTSE International for their May 1995 agreements governing the compilation and commercial exploitation of securities market indices (formerly known as FT-Actuaries World Indices and now known as the Financial Times/Standard and Poor's Actuaries World Indices). The group has sent in a double application for negative clearance and notification under the 1962 Joint Venture Regulation No 17, which governs the application of both Articles 85 and 86 of the EC Treaty on restrictive business agreements and dominant market positions. Pending a decision on whether these financial market agreements fall within the scope of Regulation No 17 or outside the scope of EU competition rules altogether, the Commission is inviting comments from third parties, to be faxed to +32.2.2964301 quoting reference IV/37.161/D1 before the deadline of November 25.

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Publication:European Report
Date:Nov 14, 1998
Words:163
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