NEW YORK - Goldman Sachs Group, the most profitable trader of fixed-income securities in the United States, said it is cooperating with government inquiries related to the credit-default swaps market.
The company and some affiliates “have received inquiries from various governmental agencies and self-regulatory organizations,’’ the firm said in documents filed yesterday with the Securities and Exchange Commission.
Goldman Sachs, which made more than $100 million in trading revenue on a record 46 separate days in the second quarter, did not provide further information. The bank is also cooperating with inquiries on compensation, the filing showed, without providing details.
The Justice Department confirmed last month that it was investigating the $27 trillion market for trading credit default swaps.
Goldman Sachs is a shareholder in Markit, along with JPMorgan Chase & Co., Bank of America Corp., and Royal Bank of Scotland Group. Goldman Sachs reported record second-quarter earnings, with trading revenue at an all-time high.
Bloomberg LP, the owner of Bloomberg News, competes with Markit in selling information to the financial-services industry. Markit is among the contributors of data that appear on the Bloomberg terminal. The investigation is looking at possible anticompetitive practices related to clearing, trading, and processing contracts in the market, the Justice Department said July 15.
