Skip to main content

ISDAt Wrong?

  • Author:
  • Updated:

The European Union will be very cross if it finds out that the International Swaps and Derivatives Association conspired with its members to keep out would-be members.

The European Commission, which oversees antitrust regulation, had “found preliminary indications that I.S.D.A. may have been involved in a coordinated effort of investment banks to delay or prevent exchanges from entering the credit derivatives business,” European antitrust regulators said in a statement. “Such behavior, if established, would stifle competition in the internal market in breach of E.U. antitrust rules….”

The commission is using the full arsenal of European Union competition law to investigate the matter, including a statute prohibiting firms from covertly rigging the market and another prohibiting big firms from bullying smaller ones. The commission said on Tuesday that it suspected the banks of acting “through collusion or an abuse of a possible collective dominance.”

Europe Expands Investigation Into Derivatives Market [DealBook]


By EU2017EE Estonian Presidency (Theresa May) [CC BY 2.0], via Wikimedia Commons

Brexit Still Impossible To Achieve, Both Sides Still Pretending It Isn’t

The brave faces can surely hold up another six months before running for cover from the catastrophe.

By Pava (Own work) [CC BY-SA 3.0 it], via Wikimedia Commons

Italy Very Much Not Taking The Hints

And very much intent on being as Italian as possible.