Nymex clearer files antitrust against ICE

12 Feb 2006

Broker MBF Clearing filed an antitrust suit against Intercontinental Exchange (ICE) alleging monopolistic behavior over its benchmark Brent crude and other contracts.

MBF's suit, filed on 2 February in US Southern District of New York court, claimed that ICE terminated its relationship with MBF on 7 December last...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.