ML-Implode News - Banks charged with blocking credit default swaps market

A two-year European Commission probe concluded that the banks colluded to maintain an anti-competitive grip on the market from 2006 to 2009 through their use of Markit and Isda.
Investigators allege the relationship with Markit, which received most of the banks raw data, stopped Deutsche BÃ¶rse and CME Group of the US starting rival services and ensured the banks remained indispensable dealers of CDS.
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The statement of objections is addressed to Bank of America Merrill Lynch, Barclays, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Royal Bank of Scotland, UBS, the ISDA, and data service provider Markit.

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Banks charged with blocking credit default swaps market