BREAKING NEWS

BREAKING NEWS

UK competition watchdog launches probe of exchange operator CME's deal to buy NEX

UK competition watchdog launches probe of exchange operator CME's deal to buy NEX
FILE PHOTO: Men enter the CME Group offices in New York, U.S., October 18, 2017. REUTERS/Brendan McDermid/File Photo -
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(Reuters) - Britain's antitrust watchdog is launching an investigation into whether U.S. exchange operator CME Group's <CME.O> $5.5 billion (4.21 billion pounds) acquisition of NEX Group <NXGN.L> will lessen competition, the regulator said on Thursday.

CME agreed to buy NEX in March, creating a cross-border powerhouse for investors trading in the multi-trillion dollar foreign exchange and government debt markets.

The Competition and Markets Authority (CMA) said it would announce by Nov. 8 whether it will refer the deal for an in-depth investigation.

(Reporting by Arathy S Nair in Bengaluru; Editing by Jan Harvey)

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