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There are different types of agreements with different rules. The rules for agreements between companies at the same level of the production chain are generally stricter than those for companies at different levels of the production chain. The iSHARE Scheme iSHARE Trust Framework facilitates both horizontal and vertical exchanges of information.
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- The efficiency must at least be partially passed on to the consumers which are affected by the restriction (e.g. quicker delivery of products or reduction of search costs).
- The agreement must not restrict competition more than is necessary for the attainment of the efficiency gains (proportionality requirement).
- The restriction of competition must not result in the total elimination of competition. As a result, competition law leaves room for such agreements.
The iSHARE Scheme iSHARE Trust Framework could lead to efficiencies (e.g. in terms of costs or by removing barriers).
It is important to carefully draft the agreements and always assess whether they could restrict competition, and whether a restriction could be justified by – for example – efficiencies. Admittedly, it is mainly up to the participants sharing data to comply with competition law, but the iSHARE Scheme iSHARE Trust Framework itself is not designed in a way to directly or indirectly have an adverse effect on competition. In all cases, an important principle of the iSHARE Scheme iSHARE Trust Framework is to create a level playing field.
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Competition law also deals with the abuse of a dominant position. Companies can also have a dominant position collectively. Whether there is a dominant position, is assessed on the basis of market shares, amongst other factors. When there is a (collective) dominant position, it is important to assess whether, for example, parties not participating in data spaces/iSHARE network are excluded from the market via abuse of dominance. A dominant position is not in itself anti-competitive. Only when that position is exploited to eliminate competition, it is considered an abuse. Examples of practices that can (but do not necessarily have to) lead to abuse of dominance are exclusive dealing agreements, a refusal to supply, and certain pricing practices.
The iSHARE Scheme iSHARE Trust Framework is intended to be an open framework, accessible to any party – admitted to the iSHARE Scheme iSHARE Trust Framework or not - seeking to use its functionalities