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EU Probe of Credit-Default Swaps Touches ISDA

Regulators look at whether trade group was involved in effort to limit new entrants to market.

By Ben Moshinsky, Bloomberg | Updated on March 26, 2013

The International Swaps & Derivatives Association, a financial industry derivatives group, is being probed as part of a European Union antitrust investigation into how data on credit derivatives is shared.

Regulators found “indications that ISDA may have been involved in a coordinated effort of investment banks to delay or prevent exchanges from entering the credit derivatives business,” the European Commission said in a statement today. The EU started a probe in April 2011 into whether 16 lenders, including Citigroup Inc. and Deutsche Bank AG, colluded by giving pricing information to data provider Markit Group Ltd.

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