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Michael Spencer: NEX ‘unlikely’ to bid for ICE’s Trayport

CEO admits firm looking at the energy trading software company that Intercontinental Exchange must sell to appease UK competition authorities

Michael Spencer: NEX ‘unlikely’ to bid for ICE’s Trayport

Michael Spencer said today that trading technology company NEX Group is unlikely to make a bid for Trayport, the energy trading software company that Intercontinental Exchange must sell after losing a battle with UK competition authorities.

The UK's Competition and Markets Authority last week told ICE to press on with the sale of Trayport and unwind a commercial agreement between the companies. ICE bought the energy software provider for  $650m in late 2015.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached