Deals
Markit and ISDA Seek to Settle EU Antitrust Probe on CDS
- EU concerned they hindered exchange trading as rival to banks
- Licenses to be offered on fair terms, governance changes
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Markit Group Ltd. and the International Swaps & Derivatives Association offered to settle a European Union antitrust investigation into their role in the credit-default swaps industry with pledges to change licensing arrangements.
The European Commission is seeking feedback on commitments from Markit, a financial information provider, and ISDA, a derivatives industry group, it said in an e-mailed statement. If accepted, the offer would allow regulators to end a five-year probe without levying any fines or making any ruling on whether there was a breach of EU law.