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Class action suit accuses Wall St's big banks of interest rate swaps collusion

Ten banks, two trading platforms alleged to have prevented the trading of these swaps on electronic exchanges, hence hindering competition

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A class action lawsuit, filed on Wednesday, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the US$320 trillion market for interest rate swaps.

New York

A CLASS action lawsuit, filed on Wednesday, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the US$320 trillion market for interest rate swaps.

The class action lawsuit, filed in the US District Court in Manhattan,...