Banks set up joint venture for interest rate derivatives
February 27—Eleven international banks are to set up a joint venture providing price information and guaranteeing liquidity in the interest rate derivatives market.
The banks involved are Bank of America, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley, Royal Bank of Scotland and UBS.
According to a letter of intent signed by the
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