London Stock Exchange Group PLC (LSE:LSEG) might have to do more to ease competition concerns if it wants its takeover of Quartile Group Limited to complete.
The bourses operator has offered undertakings to address concerns raised by the Competition and Markets Authority (CMA) but the CMA has determined that the undertakings would not provide a clear-cut solution to the competition concerns identified arising from the merger.
Accordingly, the CMA has decided to order an in-depth investigation of the proposed merger.
London Stock Exchange Group agreed to acquire Quantile Group in December 2021.
Quantile is a provider of portfolio, margin and capital optimisation and compression services for the global financial services market. Its optimisation engine provides advanced trade compression and risk rebalancing services to banks, hedge funds and other financial institutions trading over the counter derivatives.