ICE Issues Statement On CMA Decision On ICE/Trayport Agreement

(RTTNews) - Intercontinental Exchange (ICE) noted the decision of U.K. the Competition and Markets Authority or CMA with respect to ICE's agreement with Trayport, an issue which was remitted to the CMA for reconsideration following ICE's appeal to the Competition Appeal Tribunal or CAT.

Intercontinental Exchange stated that it is disappointed by the CMA's decision that the agreement for additional connectivity between ICE and Trayport signed in May 2016 should be terminated, thereby delaying when customers can benefit from the additional Trayport connectivity and greater access to ICE markets delivered by the suspended agreement.

Nonetheless, ICE said it will now complete the CMA process, terminate the agreement as instructed and move forward with the divestment of Trayport expeditiously so that Trayport's future ownership is resolved. In the interim, Trayport will continue to be operated separately and independently as it has been throughout the process.