The merger was referred for a phase two investigation in May this year
The Intercontinental Exchange has said
Tuesday that it remains confident in its plans for
recently-acquired energy platform Trayport, after the
UK’s Competition and Markets Authority (CMA)
provisionally found that the deal may lead to "a substantial
lessening of competition."
"Whilst the findings are not final, they
do start a consultation on potential remedies. If remedies are
ultimately required, ICE is confident that they will be line
with how ICE intends to operate Trayport as an open and
autonomous software provider," A spokesperson for ICE told
The ICE comments came after the body
announced on Tuesday that it has provisionally found that it
may be expected to lead to a substantial lessening of
competition (SLC). "Not only traders, but also the brokers,
exchanges and clearinghouses that compete with ICE depend on
the Trayport platform to carry out their energy trading
activities effectively," said the CMA Tuesday.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.