BATS, Chi-X Deal Sent To Competition Commission

Law360, New York (June 20, 2011, 1:25 PM EDT) -- The U.K.'s Office of Fair Trading on Monday sent a proposed acquisition of Chi-X Europe Ltd. by rival exchange operator BATS Global Markets Inc. to the Competition Commission for further review.

The two firms operate the second- and third-largest multilateral trading facilities for U.K.-listed equities, respectively, after the London Stock Exchange, the OFT said in a statement Monday, suggesting the possibility that the pending tie-up would harm competition.

"This case is not one in which we have encountered widespread customer complaints. However, we cannot rule out...
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