- CME Group Inc CME and IHS Markit Ltd INFO launched a joint venture, OSTTRA, a provider of post-trade solutions for the global OTC markets across interest rate, FX, equity, and credit asset classes.
- IHS Markit paid a $113 million equalization payment to CME Group to achieve 50/50 ownership and shared control in the joint venture. Further financial terms were not disclosed.
- OSTTRA, 50/50 owned by both parties, incorporates CME Group's optimization businesses, Traiana, TriOptima, Reset, and IHS Markit's MarkitSERV.
- Headquartered in London, OSTTRA will be led by Co-CEOs Guy Rowcliffe and John Stewart.
- Price Action: CME shares are trading lower by 0.32% at $201, and INFO lower by 0.01% at $120.58 during the pre-market session on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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