MarkitServ Settles Swap Trading Monopoly Suit

Law360, New York (October 18, 2017, 3:38 PM EDT) -- Interest rate swap trading company MarkitServ Ltd. has settled allegations it has a monopoly on the processing service industry brought by financial technology company TrueEx LLC, according to a filing in New York federal court Tuesday.

According to the filing by both parties' counsel, London-based MarkitServ, which is a subsidiary of IHS Markit Ltd., and TrueEx LLC have agreed on the terms of a settlement in the antitrust suit brought against the interest rate swap trading company. The lawsuit will be stayed as both parties convert the term sheet into an official settlement. No details of the deal were available at...

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