Swiss Financial Co. SIX Fined $7M In Antitrust Probe

Law360, New York (December 14, 2010, 2:49 PM EST) -- Switzerland's competition watchdog fined financial infrastructure giant SIX Group Ltd. 7 million Swiss francs ($7.3 million) on Tuesday for refusing to let other credit card reader manufacturers use its system that allows consumers to have purchases in a foreign country charged in their own national currency.

The Swiss Competition Commission found that SIX Multipay AG abused the market dominance garnered from its corporate relationship with SIX Card Solutions AG to block rival terminal manufacturers.

SIX Multipay launched its system, known as dynamic currency conversion, in 2005...
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