MF Global Capital, an affiliate of MF Global Holdings, has taken 11 banks to court, alleging that they restricted competition in the credit default swaps market. "The effect of these activities has been to decrease competition in the CDS market among defendants," the complaint says. "As a result, defendants' customers were forced to pay inflated bid/ask spreads, which cushion the profits of the defendants while harming their CDS customers." ISDA and Markit Group also are named as defendants.

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