DOJ, Financial Data Co. Confirm CDS Antitrust Probe

Law360, New York (July 16, 2009, 4:19 PM EDT) -- U.S. authorities and a London-based financial information services company owned by major banks have confirmed the existence of an antitrust investigation centering on the credit default swap market.

The U.S. Department of Justice and Markit Group Ltd. both confirmed the investigation in statements to media outlets on Tuesday.

The statements did not elaborate on the specifics of the probe.

According to reports, regulators want to know if the banks that own Markit got special access to the firm's information or data, giving them an unfair advantage...
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