trueEX sues 11 banks over swaps ‘conspiracy’

Platform alleges market-makers acted to preserve dominance of bank-owned Tradeweb

United-States-District-Court-Southern-District-of-New-York
The US District Court for the Southern District of New York, where the lawsuit was filed

trueEX, an electronic trading platform for interest rate swaps, has filed a lawsuit in New York against 11 of the largest bank market-makers, accusing them of conspiring to block customers from trading on the platform with the aim of ultimately letting trueEX “die on the vine”.

The lawsuit, filed on June 14, alleges the accused banks protected Tradeweb – a competing swap execution facility (Sef) which is partly owned by a consortium of banks – by continuously delaying signing up to trueEX.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: