📖 The Scoop
The Competition Commission (CC) has cleared the anticipated acquisition by BATS Global Markets, Inc of Chi-X Europe Limited. Both companies operate Multilateral Trading Facilities which enable market participants (investment banks, brokers and dealers) to trade equities through a single platform as an alternative to trading on exchanges such as the London Stock Exchange.In this final report, the CC confirms its provisional findings published last month and concludes that the acquisition is not likely to result in a substantial lessening of competition in trading services for UK-listed equities. The CC found that customers would have the power to prevent any attempt by the merged company to raise trading fees or worsen service quality, by taking, or threatening to take, their business elsewhere or even potentially sponsoring new entry. Such sponsored entry has occurred in this sector before: large customers have strong incentives to ensure that trading conditions remain competitive.
Genre: Business & Economics / General (fancy, right?)
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