7/2/2013

The European Commission has sent Markit, the International Swaps and Derivatives Association and 13 banks a statement of objections outlining suspected violations of EU antitrust rules. "The Commission takes the preliminary view that the banks acted collectively to shut out exchanges from the [credit derivatives] market because they feared that exchange trading would have reduced their revenues from acting as intermediaries in the [over-the-counter derivatives] market," the EU competition authority said.

Related Summaries