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Banks Face More Suits Over Swaps

"Two financial institutions filed lawsuits alleging large banks have had an unfair stranglehold on the $25 trillion credit-default-swaps market, adding to a pile of complaints about antitrust violations in derivatives.

"An affiliate of MF Global Holdings Ltd. filed a proposed class-action lawsuit Monday in an Illinois federal court alleging 11 banks engaged in anticompetitive practices, including blocking the company from becoming a clearing broker for swaps.

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