Markit Statement on European Commission CDS Inquiry

Never have so few words been written in such a long time…. Well, I’m not 100% sure about that, but the financial information provider Markit certainly took some time to up with the following 106-word-comment on today’s top story; the alleged exclusive information deal with the world’s largest banks.

“Markit does not believe it has engaged in any inappropriate conduct and looks forward to demonstrating that to the Commission.”

Michael Gormley


I guess it’s about eight hours since I asked Markit for a comment on EU’s CDS-investigation. That equals about 0,22 word per minute, or 13,25 word per hour. 

Anyway, Markit have carefully chosen the following 106 words:


“Markit is aware of the European Commission’s statement that it will open investigations relating to the Credit Default Swaps information and clearing markets.

Markit has no exclusive arrangements with any data provider and makes its data and related products widely available to global market participants.

Markit has created new and innovative products and services in a competitive marketplace since its inception, bringing greater transparency and information to the CDS market.

Markit is unaware of any collusion by other market participants as described by the Commission.

Markit does not believe it has engaged in any inappropriate conduct and looks forward to demonstrating that to the Commission.”

Michael Gormley
Director

Link

Related by the Econotwist’s:

About these ads

1 Comment

Filed under International Econnomic Politics, Laws and Regulations, Technology

One response to “Markit Statement on European Commission CDS Inquiry

  1. I updated the my link to your new location. Thanks for the heads up.