22 August 2017
visit www.avoka.com

Court upholds order telling ICE to sell Trayport

06 March 2017  |  5059 views  |  0 ICE web logo

The UK's Competition Appeal Tribunal (CAT) has upheld a ruling that Intercontinental Exchange must sell Trayport, the energy trading technology shop it acquired for $650 million in December 2015.

Following an in-depth investigation, in October the Competition and Markets Authority (CMA) decided that concerns that ICE could use its ownership of Trayport’s platform to reduce competition, leading to increased fees, were so strong that a sale of the recently acquired business was the only effective remedy.

ICE appealed but the CAT has backed the CMA. In a statement, ICE says: "We will review the CAT’s judgment and consider our options, including the possibility of a further appeal to the Court of Appeal."

However, the exchange operator did secure one victory, with the CAT ruling that the CMA was wrong to force ICE to kill a deal that put its data on Trayport trading screens.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

British competition watchdog wants ICE to sell Trayport

British competition watchdog wants ICE to sell Trayport

17 October 2016  |  4335 views  |  0 comments | 1 tweets | 2 linkedin
Competition watchdog probes ICE takeover of Trayport

Competition watchdog probes ICE takeover of Trayport

28 April 2016  |  3052 views  |  0 comments | 3 tweets
ICE agrees $650m Trayport acquisition

ICE agrees $650m Trayport acquisition

16 November 2015  |  4711 views  |  0 comments | 4 tweets | 3 linkedin
CME Group to buy Trayport and Fenics from GFI Group

CME Group to buy Trayport and Fenics from GFI Group

30 July 2014  |  6556 views  |  0 comments | 6 tweets | 2 linkedin
GFI buys Trayport

GFI buys Trayport

01 February 2008  |  10337 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.worldpaymentsreport.comdownload the paper now

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11674 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
10041 views comments | 22 tweets | 31 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9733 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9443 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9421 views comments | 10 tweets | 8 linkedin