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ICE's Trayport deal could face detailed UK CMA probe

TheU.K. Competition and Markets Authority warned thatits acquisition of London-based energy trading software provider Trayport Ltd. wouldface an in-depth investigation unless ICE is able to address competitionconcerns.

TheCMA said it is concerned that ICE could use its ownership of Trayport'ssoftware to raise prices and/or reduce the quality of its service to rival exchanges,brokers and clearinghouses to divert its rivals' trades to ICE's exchange andclearinghouse, according to an April 27 press release.ICE has until May 5 tooffer undertakings that address competition concerns.

ICEcompleted itsacquisition of Trayport from BGCPartners Inc. and GFIGroup Inc. in December 2015.