EU Accepts Concessions from Markit and ISDA in Deutsche Börse Probe
Posted: Tue Jul 19, 2016 1:00 pm
Finance Magnates has learned that EU antitrust regulators have accepted concessions from financial information company Markit and trade body International Swaps and Derivatives Association (ISDA) to settle charges that they obstructed rivals from the lucrative credit derivatives market.
Charges
The European Commission charged the two firms along with 13 banks with blocking Deutsche Börse from the credit default swaps market in 2007 and the Chicago Mercantile Exchange in 2008.
While the banks involved were dropped from the case last year, Markit and the ISDA subsequently offered concessions to settle the case despite the fact there was no finding of wrongdoing or possible fines. ... (read more)