EU CDS probe will now cover ISDA

European Union antitrust regulators investigating the credit default swaps market will now also look at the International Swaps and Derivatives Association (ISDA).

"The (European) Commission's inquiry found preliminary indications that ISDA may have been involved in a coordinated effort of investment banks to delay or prevent exchanges from entering the credit derivatives business," the EU executive said in a statement.

Banks listed as being part of the investigation include JP Morgan, Bank of America, Goldman Sachs, Deutsche Bank, Citigroup and 11 other banks, as well as financial data company Markit.