July 15, 2009 / 10:16 PM / 10 years ago

US Justice Dept. confirms credit derivatives probe

WASHINGTON, July 15 (Reuters) - The U.S. Justice Department confirmed on Wednesday that its Antitrust Division is investigating possible anti-competitive practices involving credit derivatives.

“The Antitrust Division is investigating the possibility of anti-competitive practices in the credit derivatives clearing, trading and information services industries,” spokeswoman Laura Sweeney said in a statement. She gave no further details.

Her statement came the day after Markit Ltd, a dealer-owned provider of prices in the credit default swap market, said the department was investigating the $26.5 trillion market. (Reporting by James Vicini, Editing by Bernard Orr)

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