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CME Group, IHS Markit venture secures EU antitrust approval

·1 min read

BRUSSELS, July 22 (Reuters) - CME Group and IHS Markit's proposed joint venture for over-the-counter markets has secured unconditional European Union antitrust approval, the European Commission said on Thursday.

CME Group and London-headquartered financial information provider IHS Markit announced the deal in January.

The EU competition enforcer said it did not have any competition concerns.

"The proposed transaction is largely complementary, and results in a few technically overlapping areas between the companies' activities relating to trade processing products," the Commission said in a statement.

IHS Markit is being acquired by business information provider S&P Global Inc in a deal worth $44 billion in stock which will create a new data powerhouse serving Wall Street and the corporate world.

That deal will have to be approved by the Commission. (Reporting by Foo Yun Chee; Editing by Edmund Blair)