Regulator Drops ION's Fintech Merger Probe After Spinoff

Law360, London (November 10, 2020, 2:39 PM GMT) -- Britain's antitrust regulator said on Tuesday that it has dropped its probe into a merger in the financial technology sector after ION Investment Group agreed to sell off the fixed income business of its recent acquisition to resolve concerns about stifled competition.

ION has addressed antitrust concerns by agreeing to sell part of Broadway Technology's business, the Competition and Markets Authority said. The two companies provide specialist trading systems to banks and other finance companies, which allows them to trade foreign exchange and fixed income securities such as government bonds.

ION is the largest supplier of fixed income electronic trading systems...

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