Press Release: Antitrust: Commission seeks feedback on commitments by ISDA and Markit on credit default swaps

On 28 April 2016, the European Commission invited comments from interested parties on commitments offered separately by ISDA and by Markit to address competition concerns relating to the licensing of data and indices on credit default swaps (CDS) for the purpose of exchange trading.

The Commission had concerns that the International Swaps and Derivatives Association Inc. (ISDA) and the information service provider Markit, each separately, may have breached EU antitrust rules. According to the Commission's preliminary concerns, ISDA and Markit refused to license to exchange trading platforms certain data and indices used by the industry for the pricing of CDS. This may have blocked or delayed the emergence of an effective market for exchange traded credit derivatives. The Commission informed ISDA and Markit of these concerns in a Statement of Objections in July 2013.

ESO: Background information: Press Release: Antitrust: Commission sends statement of objections to 13 investment banks, ISDA and Markit in credit default swaps investigation http://www.europeansources.info/record/press-release-antitrust-commission-sends-statement-of-objections-to-13-investment-banks-isda-and-markit-in-credit-default-swaps-investigation/

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