Sefs and exchanges echo EC's CDS licence complaints

Abuse of power?

magnifying-glass

Being able to grant a licence is a powerful thing. The belief of the European Commission (EC) is that the International Swaps and Derivatives Association and Markit, at the behest of 13 banks, abused that power to keep CME Group and Deutsche Börse out of the credit default swap (CDS) market between 2006 and 2009. And the claim from some market participants is that the licensing process is still being used to stifle competition in the CDS space today.

Two new derivatives trading platforms tell Ri

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