The European Commission revealed on Thursday it has approved the CME Group and IHS Markit’s proposed joint venture for OTC markets.
Derivatives marketplace CME Group and London-based financial information provider IHS Markit first announced their intentions in January.
The European Commission’s official announcement showed no concerns over the creation of the joint venture.
The statement said:
The proposed transaction is largely complementary, and results in a few technically overlapping areas between the companies’ activities relating to trade processing products.
The new joint venture will provide trade processing and risk mitigation services for global OTC markets across interest rate, FX, equity and credit asset classes.
Business information provider S&P Global Inc is in the process of acquiring IHS Markit in a a deal worth $44 billion in stock. The merger has been approved by the shareholders of both companies and by the Commission.
