# C_2018005EN.01002602.xml

| 8.1.2018 | EN | Official Journal of the European Union | C 5/26 |
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8.1.2018

EN

Official Journal of the European Union

C 5/26

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Judgment of the General Court of 10 November 2017 — Icap and Others v Commission

(Case T-180/15) (1)

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((Competition - Agreements, decisions and concerted practices - Yen interest rate derivatives sector - Decision finding six infringements of Article 101 TFEU and Article 53 of the EEA Agreement - Manipulation of the JPY LIBOR and Euroyen TIBOR interbank reference rates - Restriction of competition by object - Participation of a broker in the infringements - ‘Hybrid’ settlement procedure - Principle of the presumption of innocence - Principle of sound administration - Fines - Basic amount - Exceptional adjustment - Article 23(2) of Regulation (EC) No 1/2003 - Obligation to state reasons))

(2018/C 005/35)

Language of the case: English

Parties

Parties

Applicants: Icap plc (London, United Kingdom), Icap Management Services Ltd (London) and Icap New Zealand Ltd (Wellington, New Zealand) (represented by: C. Riis-Madsen and S. Frank, lawyers)

Applicants:

Defendant: European Commission (represented by: V. Bottka, B. Mongin and J. Norris-Usher, acting as Agents)

Defendant:

Re:

Re:

Action brought under Article 263 TFEU for annulment of Commission Decision C(2015) 432 final of 4 February 2015 relating to proceedings under Article 101 TFEU and Article 53 of the EEA Agreement (Case AT.39861 — Yen Interest Rate Derivatives), and, in the alternative, for a reduction in the amount of the fines imposed on the applicants in that decision.

Operative part of the judgment

Operative part of the judgment

The Court:

| 1. | Annuls Article 1(a) of European Commission Decision C(2015) 432 final of 4 February 2015 relating to proceedings under Article 101 TFEU and Article 53 of the EEA Agreement (Case AT.39861 — Yen Interest Rate Derivatives), inasmuch as it relates to the period after 22 August 2007; |
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1.

Annuls Article 1(a) of European Commission Decision C(2015) 432 final of 4 February 2015 relating to proceedings under Article 101 TFEU and Article 53 of the EEA Agreement (Case AT.39861 — Yen Interest Rate Derivatives), inasmuch as it relates to the period after 22 August 2007;

| 2. | Annuls Article 1(b) of Decision C(2015) 432 final; |
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2.

Annuls Article 1(b) of Decision C(2015) 432 final;

| 3. | Annuls Article 1(d) of Decision C(2015) 432 final inasmuch as it relates to the period from 5 March to 27 April 2010; |
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3.

Annuls Article 1(d) of Decision C(2015) 432 final inasmuch as it relates to the period from 5 March to 27 April 2010;

| 4. | Annuls Article 1(e) of Decision C(2015) 432 final inasmuch as it relates to the period prior to 18 May 2010; |
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4.

Annuls Article 1(e) of Decision C(2015) 432 final inasmuch as it relates to the period prior to 18 May 2010;

| 5. | Annuls Article 1(f) of Decision C(2015) 432 final inasmuch as it relates to the period prior to 18 May 2010; |
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5.

Annuls Article 1(f) of Decision C(2015) 432 final inasmuch as it relates to the period prior to 18 May 2010;

| 6. | Annuls Article 2 of Decision C(2015) 432 final; |
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6.

Annuls Article 2 of Decision C(2015) 432 final;

| 7. | Dismisses the action as to the remainder; |
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7.

Dismisses the action as to the remainder;

| 8. | Orders Icap plc, Icap Management Services Ltd and Icap New Zealand Ltd to bear one quarter of their own costs; |
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8.

Orders Icap plc, Icap Management Services Ltd and Icap New Zealand Ltd to bear one quarter of their own costs;

| 9. | Orders the Commission to bear its own costs and to pay three quarters of the costs of Icap, Icap Management Services and Icap New Zealand. |
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9.

Orders the Commission to bear its own costs and to pay three quarters of the costs of Icap, Icap Management Services and Icap New Zealand.

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(1)  OJ C 245, 27.7.2015.

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