UK Watchdog Has Competition Concerns Over Ion-Broadway Deal
The trading tech giant has five days to address issues, or face a months-long investigation.
The UK’s competition watchdog has found Ion’s purchase of Broadway Technology raises competition concerns in the supply of electronic trading systems for fixed income, but not foreign exchange (FX).
The verdict is based on a three-month initial probe by the Competition and Markets Authority (CMA). A full investigation may now follow, during which time Ion and Broadway would have to freeze integration work.
In a statement published today, the CMA describes Ion as “by far the largest” supplier
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