Commerzbank drops out of credit derivatives and G-15 dealer group

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Commerzbank has pulled out of the credit derivatives market following the integration of Dresdner Kleinwort and a refocusing of its investment banking business model, according to dealers.

The change became apparent when over-the-counter derivatives market participants delivered their latest set of operational commitments to regulators on March 1. While a group of 15 major dealers, known as the G-15, and nine buy-side firms had signed up to the previous set of commitments in June 2009, the

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