{"id":81045,"date":"2017-04-25T15:03:00","date_gmt":"2017-04-25T15:03:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=047d29d4688dafc767a4d58d2e087196"},"modified":"2017-04-25T15:03:00","modified_gmt":"2017-04-25T15:03:00","slug":"news-story-cma-provisional-decision-on-icetrayport-agreement","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=81045","title":{"rendered":"News story: CMA provisional decision on ICE\/Trayport agreement"},"content":{"rendered":"<div class=\"govspeak\">\n<p>In March following a challenge by Intercontinental Exchange, Inc. (ICE), the Competition Appeal Tribunal (<abbr title=\"Competition Appeal Tribunal\">CAT<\/abbr>) <a rel=\"external\" href=\"http:\/\/www.catribunal.org.uk\/238-9705\/Judgment.html\">upheld the <abbr title=\"Competition and Markets Authority\">CMA<\/abbr>\u2019s findings<\/a> that the merger between the 2 results in a loss of competition and that in order to resolve this, <a href=\"https:\/\/www.gov.uk\/government\/news\/cma-requires-ice-to-sell-trayport\">ICE must sell the Trayport business<\/a>.<\/p>\n<p>At the same time, the Competition and Markets Authority (<abbr title=\"Competition and Markets Authority\">CMA<\/abbr>) was also asked by the <abbr title=\"Competition Appeal Tribunal\">CAT<\/abbr> to reconsider its additional requirement that the companies terminate a new agreement that had been entered into during the course of the original investigation and which would significantly expand their commercial relationship.<\/p>\n<p>In its provisional remittal decision, the <abbr title=\"Competition and Markets Authority\">CMA<\/abbr> has found that the new agreement represents a significant step-change in relations between 2 companies which had historically not co-operated. It has also provisionally found that the agreement could risk an effective sale of the Trayport business and benefit ICE in the future whilst  disdvantaging the new owner of Trayport.<\/p>\n<p>In view of these risks and the low costs arising from ending an agreement that has not yet been implemented, the <abbr title=\"Competition and Markets Authority\">CMA<\/abbr> has provisionally concluded that it is necessary to terminate it.<\/p>\n<p>The <abbr title=\"Competition and Markets Authority\">CMA<\/abbr> will now consider responses to its provisional decision before publishing its final decision in late May. The provisional findings report is available on the <a href=\"https:\/\/www.gov.uk\/cma-cases\/intercontinental-exchange-trayport-merger-inquiry\">case page<\/a> along with all other published information relating to the investigation.<\/p>\n<p>Anyone wishing to respond to the provisional findings should do so in writing, by no later than 5pm on 10 May 2017.<\/p>\n<p>Email <a href=\"mailto:ice.trayport@cma.gsi.gov.uk\">ice.trayport@cma.gsi.gov.uk<\/a> or write to:<\/p>\n<div class=\"address\">\n<div class=\"adr org fn\">\n<p>Project Manager<br \/>\n<br \/>ICE\/Trayport merger inquiry<br \/>\n<br \/>Competition and Markets Authority<br \/>\n<br \/>Victoria House<br \/>\n<br \/>Southampton Row<br \/>\n<br \/>London<br \/>\n<br \/>WC1B 4AD<br \/>\n\n<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The CMA has published the provisional findings in its remittal investigation looking at a new commercial agreement between ICE and Trayport.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/81045"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=81045"}],"version-history":[{"count":1,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/81045\/revisions"}],"predecessor-version":[{"id":81046,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/81045\/revisions\/81046"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=81045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=81045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=81045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}