CDS licence approvals too slow, Sefs claim


New US derivatives trading venues claim to have been waiting months for licences to offer single-name and index credit default swaps (CDSs). These complaints resemble those outlined on July 1 by the European Commission (EC), which has spent two years investigating claims that the licensing process was used by data vendor Markit and others to delay exchanges as they sought to enter the CDS market between 2006 and 2009.

"To my knowledge, Markit has not granted the licences to list index CDSs, or

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