European Commission Approves Joint Venture of IHS Market, CME Group

european commission approves joint venture of ihs market cme group

Sumary of European Commission Approves Joint Venture of IHS Market, CME Group:

  • The European Commission has granted unconditional European Union antitrust approval to the proposals of IHS Markit (NYSE: INFO) and CME Group (NASDAQ: CME) to form a joint venture combining their post-trade services.
  • In its public confirmation on Thursday, the European regulator specified that it does not have any competition concerns with the formation of the joint venture.
  • “The proposed transaction is largely complementary, and results in a few technically overlapping areas between the companies’ activities relating to trade processing products,” the EU antitrust regulator stated.
  • No Competition ConcernsBoth IHS Markit and the CME Group first announced their intention to form a joint venture overlapping parts of their businesses earlier in January.
  • The joint venture will consist of IHS Markit’s over-the-counter (OTC) derivatives and foreign currency trade processing business (MarkitSERV) and of CME Group’s OTC derivatives optimization businesses, which it operates as Traiana, TriOptima, and Reset.

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