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US/EU: Markit could avoid US sanctions as EU continues case

 |  October 7, 2013

Sources told reporters that UK-based data provider Markit Group will likely avoid a crackdown by the US Department of Justice for allegations of harming competition within the credit-derivatives market, despite the European Commission’s current preparation of sanctions in its own investigation of the matter.

The company, owned by various major financial firms including JPMorgan Chase & Co and Bank of America Corp., is under the scope of major scrutiny of the credit-derivatives market and whether the banks that control Markit colluded to block exchange trading.

Despite the allegations, one expert, finance professor Darrell Duffie, said the DOJ is not likely as concerned with the case as others because the Dodd-Frank act paved the way for competition within the credit-derivatives sector.

Full Content: Bloomberg

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