Antitrust: Commission accepts commitments by ISDA and Markit on credit default swaps

On the 20 July 2016, the European Commission adopted a decision that renders legally binding commitments to licence inputs for credit default swaps, offered separately by the International Swaps and Derivatives Association Inc. (ISDA) and information service provider Markit. This decision should ensure that all trading venues can benefit from fair, reasonable and non-discriminatory access to data and intellectual property owned by ISDA and Markit.

The Commission had raised concerns that ISDA, Markit and some of its member investment banks had breached EU antitrust rules in July 2013.To address these concerns, ISDA and Markit had each offered a set of commitments aimed at facilitating access to their respective intellectual property and data for exchange trading purposes. In April 2016 the Commission market had tested the draft commitments and the outcome was positive.

ESO: Background information: 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/

ESO: Background information: Antitrust: Commission seeks feedback on commitments by ISDA and Markit on credit default swaps http://www.europeansources.info/record/press-release-antitrust-commission-seeks-feedback-on-commitments-by-isda-and-markit-on-credit-default-swaps/

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