ICE Disagrees With Provisional Findings Of CMA On Trayport Acquisition

(RTTNews) - Intercontinental Exchange (ICE) Thursday said it does not agree with UK's Competition and Markets Authority or CMA's provisional findings on Trayport acquition. The company has provided

further information to investors on its acquisition.

According ICE, the authorities provisional findings do not align with ICE's vision for continuing to operate Trayport as an open and autonomous software provider.

ICE said it will address CMA's concerns and demonstrate how they do not reflect the manner in which Trayport will operate as a subsidiary. Trayport will continue to operate as it does today in European utilities markets and will ensure that brokers, exchanges and clearing houses are all treated fairly and reasonably and are not discriminated against, including with respect to pricing, access and support.

In addition, Trayport will continue to invest in and enhance its existing services in response to customer and market demand. It will operate as a separate, independent business within ICE and will have a dedicated senior management team and defined processes to ensure customer feedback is received and given appropriate consideration.

CMA has started a consultation on potential remedies if its final decision is that ICE's ownership of Trayport could give rise to an adverse impact on competition.