Deutsche Bank halted sovereign CDS trading after Bafin ban

Deutsche Bank ceased trading eurozone sovereign credit default swaps (CDSs) between 7am and 9am BST on May 19 in the face of regulatory uncertainty, after German securities regulator Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin) unexpectedly banned the naked short selling of eurozone government bonds and CDSs on those bonds.

"The new rules came out from Bafin yesterday night. Before we started trading this morning, we made a careful check with compliance and Bafin to get a better

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