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GSE Bonds Antitrust Litigation Update

Claim Filing Deadline, May 12, 2020



Did you trade debt securities of government sponsored enterprises (aka GSE bonds) between 2009 and 2019? If so, you may be eligible to participate in an antitrust settlement.

Plaintiffs allege that the defendants (see full list below) conspired to fix prices of unsecured GSE bonds issued by Federal National Mortgage Association, Federal Home Loan Mortgage, Federal Farm Credit Banks, and Federal Home Loan Banks. 

How CCC Can Help:

As you might guess, given the nature of GSEs, this litigation affects a lot of securities. Indeed, there are tens of thousands. Chicago Clearing can find every last eligible security for this settlement and ensure that no eligible bond is missed.

Case Name: GSE Bonds Antitrust Litigation

Settlement Fund: $386,500,000

Claim Filing Deadline: May 12, 2020

Class Period: 1/1/2009 – 1/1/2019

Class description: "All persons and entities who or which entered into a GSE Bond Transaction with one or more Defendants or a direct or indirect parent, subsidiary, affiliate, or division of a Defendant during the Settlement Class Period."

Settling Defendants: First Tennessee Bank and FTN Financial Securities Corp.; Deutsche Bank; Barclays Capital Inc.; BNP Paribas Securities Corp.; Citigroup Global Markets Inc.; Credit Suisse Securities (USA) LLC; Goldman Sachs & Co. LLC; J. P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Inc.; TD Securities (USA) LLC; Nomura Securities International, Inc.; HSBC Securities (USA) Inc.; Cantor Fitzgerald & Co.; SG Americas Securities LLC; Morgan Stanley & Co., LLC; and UBS Securities LLC.



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