Goldman one of defendants in antitrust case

Goldman Sachs was named as a defendant in an antitrust case alleging the firm was part of a conspiracy to discourage trading on the plaintiffs’ platform for exchanging swaps tied to interest rates.

Bloomberg News reports that the case was filed in federal court in Manhattan on April 18, Goldman Sachs said Friday in a quarterly regulatory filing, without naming the plaintiffs or other defendants.

Online trading startups Tera Group, TeraExchange and Tera Advanced Technologies filed a suit last month against more than a dozen banks, saying they conspired to block fund managers from entering the market for interest-rate swap trading, according to the complaint.

Investors are stuck in the “dark and inefficient over-the-counter market,” and blocked from transparent, competitive pricing and faster trades, the plaintiffs said.

The list of defendants includes Goldman Sachs, Bank of America, Barclays, BNP Paribas, JPMorgan, Royal Bank of Scotland and Citigroup.

To access the complete Bloomberg News article hit the link below:

Goldman Named as Part of Interest-Rate Swap Antitrust Case

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