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US: Goldman named as part of interest-rate swap antitrust case

 |  May 8, 2016

Goldman Sachs Group was named as a defendant in an antitrust case alleging the firm was part of a conspiracy to discourage trading on the plaintiffs’ platform for exchanging swaps tied to interest rates.

The case was filed in federal court in Manhattan on April 18, New York-based Goldman Sachs said Friday in a quarterly regulatory filing, without naming the plaintiffs or other defendants.

Online trading startups Tera Group, TeraExchange and Tera Advanced Technologies filed a suit last month against more than a dozen banks, saying they conspired to block fund managers from entering the market for interest-rate swap trading, according to the complaint.

Investors are stuck in the “dark and inefficient over-the-counter market,” and blocked from transparent, competitive pricing and faster trades, the plaintiffs said.

Full Content: Business Times

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