UK's CMA Approves Joint Venture of IHS Markit and CME

Fazzaco learned that the United Kingdom's Competition and Markets Authority (CMA), the UK antitrust regulator, announced that it has approved the anticipated joint venture of IHS Markit and CME Group. 

Wanna Know How to Reach Our Audience of Millions at Fazzaco?

In January, the two firms have made a deal to combine their post-trade services into a new joint venture​ for OTC markets. The joint venture will consist of IHS Markit's over-the-counter (OTC) derivatives and foreign currency trade processing business and of CME's OTC derivatives optimisation businesses. 

The CMA opened an inquiry against the proposals of the joint venture in June over several market-related concerns.

The latest decision came less than a week after the European Commission approved the formation of the joint venture by the two companies. Under the already agreed terms, IHS Markit needs to make a payment of $113 million to CME Group at the closure of the deal that will give both companies equal ownership and shared control of the joint venture.