September 13, 2018 / 11:53 AM / 7 months ago

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

Sept 13 (Reuters) - Britain’s antitrust watchdog is launching an investigation into whether U.S. exchange operator CME Group’s $5.5 billion acquisition of NEX Group 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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