Burgundy has reported Verizon to Sweden's competition authority, with the Nordic multilateral trading facility claiming it has been blocked from using the US firm's network infrastructure.
Bank-owned Burgundy says that by not letting it co-locate in its data centre, Verizon is "choosing sides" in trading, favouring rival provider Nasdaq OMX.
Nasdaq OMX uses Verizon's data centre near Stockholm. Most banks and brokers in the country use the same facility, enabling them to connect directly to the exchange operator's platform.
Burgundy chief executive Olof Neiglick told the FT that, in contrast, his platform has been forced to use a data centre five kilometres away, "an eternity" in high-frequency trading.
Neiglick says Burgundy inked a deal with Verizon in September but the American firm later cancelled because it has a "one exchange" policy on data centres.
The MTF boss told the FT that he cannot prove that Nasdaq OMX pressured Verizon on the decision but will meet competition regulators this week about abuse of position by the provider.
Burgundy makes Verizon complaint - FT (subscription)