ISDA Investigated in EU Probe of Credit-Default Swap Data
By Ben Moshinsky - Mar 26, 2013 7:11 AM ET
.The International Swaps & Derivatives Association, a financial industry derivatives group, is being probed as part of a European Union antitrust investigation into the sharing of data on credit derivatives.
Regulators found “indications that ISDA may have been involved in a coordinated effort of investment banks to delay or prevent exchanges from entering the credit derivatives business,” the European Commission said in a statement today. The EU started a probe in April 2011 into whether 16 lenders, including Citigroup Inc. (C) and Deutsche Bank AG (DBK), colluded by giving pricing information to data provider Markit Group Ltd.
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