Merger Update: ION / Broadway

CMA invites comments on trading systems merger remedy:

The Competition and Markets Authority (CMA) has opened a consultation on undertakings proposed by ION Investment Group Limited (ION) to address competition concerns over its acquisition of Broadway Technology Holdings LLC.

On 7 July 2020, the CMA announced that it would refer the acquisition for an in-depth investigation unless ION offered acceptable undertakings to address the CMA's concerns.

On 14 July 2020, ION offered undertakings in lieu of reference to the CMA, which can be found on the CMA's website https://www.gov.uk/cma-cases.

On 21 July 2020, the CMA announced that it considers there are reasonable grounds for believing that the undertakings offered, or a modified version of them, might be accepted by the CMA. The CMA has until 11 November 2020 to consider whether to accept the undertakings, or a modified version of them. As part of this process, the CMA is now consulting publicly on whether the proposals are sufficient to address the CMA's competition concerns.

Before reaching a final decision, the CMA is therefore inviting interested parties to make their views known. The deadline for responses is 10 October 2020.

The consultation on the undertakings and all other information relating to this merger investigation can be found on the case page at https://www.gov.uk/cma-cases.

In the event of media enquiries please email Press@cma.gov.uk."