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Markit and ISDA’s EU Settlement Ends Antitrust Probe on CDS

  • Markit and ISDA pledge to license CDS inputs for 10 years
  • EU commitments end threat of fines, shut lengthy CDS probe

IHS Markit Ltd. and the International Swaps & Derivatives Association finalized a settlement with European Union regulators, ending a lengthy antitrust probe into credit-default swaps that previously targeted global investment banks.

The European Commission accepted pledges by IHS Markit and ISDA on licensing intellectual property on fair terms. Regulators had been concerned over possible restrictions on licensing ISDA’s so-called "final price," which is used to determine payments following a default, and IHS Markit’s iTraxx and CDX indexes.