The latest battle in a war for control of Blackbird – the only independent electronic interest rate swaps trading platform – took place in a Delaware court last month. The contest pits Blackbird’s current management against London-based Icap, the world’s largest swaps broker, which owns 19% of the company. In the wake of a semi-victory in court for Icap last month, the future of the Charlotte, North Carolina-based trading platform is in question.
Icap claims it wants to throw out the current
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