Both operate MTFs which enable market participants to trade pan-European equities through a single platform as an alternative to trading on national exchanges. The CC has been asked to decide whether the acquisition may be expected to result in a substantial lessening of competition in the UK.
The issues statement follows the first stages of gathering information, views and evidence and identifies clearly for all interested parties the specific questions and areas the inquiry is examining. This will form the basis for hearings with BATS, Chi-X and other interested parties.
If the inquiry group considers that the merger may be expected to result in an SLC, it will consider whether and, if so, what remedies might be appropriate, taking into account any relevant customer benefits that might arise from the acquisition. The inquiry group will issue a remedies statement should this be required, at about the time it publishes its provisional findings.
The issues statement identifies the key questions being addressed in the investigation. It does not imply that the inquiry group has yet identified any competition concerns.
Press release
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