European Union antitrust regulators on Wednesday said they accepted commitments offered by the International Swaps and Derivatives Association and data provider Markit to end Brussels’ concerns about alleged collusion in the lucrative credit-derivatives market.
The EU has had concerns that the industry, including Isda and Markit, was seeking to prevent the multi-trillion dollar market for credit-default swaps from moving away from the control of banks and onto regulated exchanges, where trading would be cheaper and less risky.