Intercontinental Exchange Refutes CMA Conclusion over Trayport Acquisition
Posted: Wed Aug 17, 2016 10:48 am
New York Stock Exchange operator Intercontinental Exchange Inc. (NYSE:ICE) today said it is still committed to its $650 million investment in the commodities trading software company Trayport. The US-headquartered group refused the British competition watchdog’s concerns over the deal which could discourage ICE and its rivals from launching new products and trading solutions, according to the CMA.
ICE beat arch-rival CME Group to buy the broker-tech platform licenser just eight months ago, but the UK`s competition authority now believes a complete divestiture could be an effective remedy to the substantial lessening of competition.
Earlier this week, the Competition and ... (read more)