ICE must sell Trayport energy trading platformStaff Writer | October 17, 2016
Intercontinental Exchange (ICE) has been told by UK regulators that it should sell its Trayport software platform less than a year after its acquisition, in order to free up competition in the market for wholesale energy trading.
Trading platform The Competition and Markets Authority:
The CMA also found that the merger would be likely to result in a loss of competition between Ice and its rivals to launch new products, trading solutions and enter new markets.
All third parties that made submissions to the CMA supported its provisional findings from August, with the majority agreeing that the sale of the Trayport business was the only effective remedy in response.
"Participants in this market have a high level of dependence on Trayport's integrated software offering, alternatives are weak and barriers to entry in this market are high," said Simon Polito, chair of the inquiry. ■