ICE – Trayport merger to be terminated

Intercontinental Exchange (NYSE:ICE)  has said that it notes the decision of the Competition and Markets Authority (CMA) with respect to ICE’s agreement with Trayport, an issue which was remitted to the CMA for reconsideration following ICE’s appeal to the Competition Appeal Tribunal (CAT).

We are disappointed by the CMA’s decision that the agreement for additional connectivity between ICE and Trayport signed in May 2016 should be terminated, thereby delaying when customers can benefit from the additional Trayport connectivity and greater access to ICE markets delivered by the suspended agreement.

Nonetheless, we will now complete the CMA process, terminate the agreement as instructed and move forward with the divestment of Trayport expeditiously so that Trayport’s future ownership is resolved. In the interim, Trayport will continue to be operated separately and independently as it has been throughout the process.