CME and IHS Markit to create a post-trade services joint venture - IHS will pay CME $113 million for a 50/50 stake:
$CME $INFOhttps://www.cmegroup.com/media-room/press-releases/2021/1/12/cme_group_and_ihsmarkittoformleadingpost-tradeservicesjointventu.html?source=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+mediaroom%2FCMsF+%28CME+Group+Media+Room%29 …
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CME is contributing the old NEX/ICAP post trade assets which was bigger than MarkitSERV revenues. MarkitSERV (processing of OTC IRS) was also growing slow as it was structurally impacted by OTC clearing mandates. Traiana was the main competitor to MarkitSERV but in fx.
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Also remember that IHS Markit tried to sell MarkitSERV a couple yrs back but didn’t get the right price.
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