European Commission - Daily News
Brussels, 28 April 2016
The European Commission is inviting comments from interested parties on commitments offered separately by ISDA and by Markit to address competition concerns relating to the licensing of data and indices on credit default swaps (CDS) for the purpose of exchange trading. It has concerns that the International Swaps and Derivatives Association Inc. (ISDA) and the information service provider Markit, each separately, may have breached EU antitrust rules.
According to the Commission's preliminary concerns, ISDA and Markit refused to license to exchange trading platforms certain data and indices used by the industry for the pricing of CDS. This may have blocked or delayed the emergence of an effective market for exchange traded credit derivatives. The Commission informed ISDA and Markit of these concerns in a Statement of Objections in July 2013.
To address the Commission's concerns, ISDA and Markit have each offered a set of commitments. Interested parties can submit comments within one month from the date of publication. If the market test indicates that the commitments are a satisfactory way of addressing the Commission's competition concerns, the Commission may adopt a decision making the commitments legally binding on ISDA and Markit.
Source: Europa.eu (Copyright European Commission)