The UK Competition and Markets Authority (CMA) announces that it has cleared the anticipated joint venture between IHS Markit Ltd’s MarkitSERV Business and CME Global Inc.’s Optimization Business.

As FX News Group has reported, in June 2021, the CMA opened a probe into the anticipated joint venture between IHS Markit Ltd’s MarkitSERV business and CME Global Inc.’s optimization business.

The CMA said back then it was considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

In January 2021, international derivatives marketplace CME Group (NASDAQ:CME) and IHS Markit (NYSE:INFO), a global provider of critical information, analytics and solutions, announced that they have agreed to combine their post-trade services into a new joint venture.

The new company will include trade processing and risk mitigation operations. It will incorporate CME Group’s optimization businesses –Traiana, TriOptima, and Reset – and IHS Markit’s MarkitSERV.

The combination of these complementary offerings will provide clients with enhanced platforms and services for global OTC markets across interest rate, FX, equity and credit asset classes. Market participants will benefit from a more efficient front-to-back workflow with enhanced connectivity and improved trading certainty.

As a result, OTC market participants will be able to improve risk management and streamline post-trade operations.