European Commission Accuses 13 Banks Of Blocking CDS Market

European Commission has charged 13 investment banks, ISDA and Markit Group of blocking entrants into the credit default swap market.

In its today’s press statement, the European Commission indicated that it has sent its statement of objections to the large banks as a step towards its ongoing antitrust investigation into the opaque but lucrative credit default swaps, which the commission opened in April 2011.

The 13 banks covered in the CDS probe are Goldman Sachs Group Inc (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc...