Tackling Anti-Competitive Unilateral Acts under the Ethiopian Competition Regime: A Case Study of Electronic Trading At Ethiopia Commodity Exchange
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Date
2018-05
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Addis Ababa University
Abstract
Anticompetitive Unilateral Acts are one of Anticompetitive Acts markets could face. The 2014
Ethiopian Trade competition and consumer protection proclamation, inter alia, provide rules for
acts of unfair competition and these rules are the closet rules which resembles to
Anticompetitive Unilateral Act; despite their focus on violation of intellectual property rights
such as misleading advertisement false allegation etc. against another trader. As a market
which facilitates competitive trading platform, the Electronic Trading System in Ethiopia
Commodity Exchange is expected to implement competition lawof the country. The Electronic
Trading System faced / still faces various Anticompetitive Acts; includingAnticompetitive
Unilateral Acts. The Anticompetitive Unilateral Acts observed in the Commodity Exchange
includes flash crashing, Unrepresentative pricing, Failure / refusal to submit trade orders, Pace
making, Marking the closing price, Cornering, Dumping, and Matching orders. These
Anticompetitive Unilateral Acts are not directly or indirectly mentioned under the competition
and consumer protection proclamation. Considering the substantive content of unfair
competition rules of the Trade Competition and Consumer Protection and Anticompetitive
Unilateral Acts observed in the Commodity Exchange’s Electronic Trading System, this thesis
investigates whether unfair competition rules under the Competition and Consumer Protection
Proclamation are the best means to tackle Anticompetitive Unilateral Acts observed in the
commodity exchange’s Electronic Trading System or not.Particularly, the thesis revolves around
two research questions: (1), does the existing competition regime provide proper rules which
adequately tackle the Anticompetitive Unilateral Acts observed in the Ethiopia Commodity
Exchange Electronic Trading? And (2), how are the existing Anticompetitive Unilateral Acts in
the Ethiopia Commodity Exchange Electronic Trading being tackled by the exchange’s rules and
are the measures consistent with the rules of the competition law? It is in this light that this
thesis seeks to investigate the nature of unfair competition rules of the Competition and
Consumer Protection Proclamation, Anticompetitive Unilateral Acts Observed in the Electronic
Trading System of the Commodity Exchange, rules of the Commodity Exchange, and incidents
addressed by the commodity exchange in this regard.Key Terms
Flash crush, Unrepresentative pricing, Failure / refusal to submit orders, Pace making,
Marking the closing price, Cornering and dumping, Matching orders, Trading sessions,
Electronic trading system, Unfair competition
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Keywords
Flash crush, Unrepresentative pricing, Failure / refusal to submit orders, Pace making, Marking the closing price, Cornering and dumping, Matching orders, Trading sessions,