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

By  |  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.

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    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.

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    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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