European Commission Grants Joint Venture of IHS Markit and CME

The European Commission announced on Thursday it has approved a newly created joint venture created by IHS Markit Ltd. (IHSM) of the UK, a world leading provider of critical information, analytics and solutions, and CME Group Inc. (CME) of the US, the most diverse derivatives marketplace.

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According to the official press release, the joint venture will consist of IHSM's over-the-counter (OTC) derivatives and foreign currency trade processing business and of CME's OTC derivatives optimisation businesses. Through these businesses, the joint venture will provide trade processing and trade/portfolio optimisation services in a number of asset classes.

In January, the two firms has made a deal to combine their post-trade services into a new joint venture for OTC markets.

At the end of June, Fazzaco reported that the European Commission adopted two decisions concerning the Euro Interest Rate Derivatives (EIRD) cartel.