CMA refers energy trading software merger for in-depth investigation
The CMA has referred ICE바카라 사이트™s completed acquisition of Trayport for an in-depth investigation.
Last week, the Competition and Markets Authority (CMA) said that it would refer the merger for an in-depth investigation unless Intercontinental Exchange (ICE) offered acceptable undertakings to address the CMA바카라 사이트™s competition concerns.
The CMA is concerned that ICE could use its ownership of Trayport바카라 사이트™s software to raise prices and/or reduce the quality of its service to rival exchanges, brokers and clearinghouses in order to divert its rivals바카라 사이트™ trades to ICE바카라 사이트™s exchange and clearinghouse and/or to protect its market position from increased competition.
ICE has not offered any undertakings in lieu and the CMA will therefore now refer the merger.
A decision on the merger will be made by a group of independent panel members supported by a case team of CMA staff. The deadline for the final report will be 18 October 2016.
Details of the CMA바카라 사이트™s decision will be available on the case page in due course.