11 Banks Sued By MF Global for Restrained Competition by Inappropriately Controlling the Swaps Mrkt.
- Korein Tillery
- Dec 16, 2019
- 1 min read
"11 Banks Sued By MF Global for Restrained Competition by Inappropriately Controlling the Swaps Market
Lenders Accused of Anticompetitive Practices
An affiliate of MF Global Holdings Ltd. filed a lawsuit alleging 11 banks engaged in anticompetitive practices in the $25 trillion credit-default-swaps market, including blocking the company from becoming a clearing broker for swaps.
MF Global Capital LLC, an arm of the collapsed broker managed by a board liquidating the company, filed a lawsuit Monday in the U.S. District Court for the Northern District of Illinois, alleging the banks "restrained competition" in the market. Credit default swaps are insurance-like contracts that pay out when a country or a company defaults on its debts..."
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