Benzinga | Sep 1, 2021 09:07AM EDT

CME Group, IHS Markit Launch Post-Trade Services Company 'OSTTRA'

* CME Group Inc (NASDAQ:CME) and IHS Markit Ltd (NYSE:INFO) launched a joint venture, OSTTRA, a provider of post-trade solutions for the global OTC markets across interest rate, FX, equity, and credit asset classes.

* IHS Markit paid a $113 million equalization payment to CME Group to achieve 50/50 ownership and shared control in the joint venture. Further financial terms were not disclosed.

* OSTTRA, 50/50 owned by both parties, incorporates CME Group's optimization businesses, Traiana, TriOptima, Reset, and IHS Markit's MarkitSERV.

* Headquartered in London, OSTTRA will be led by Co-CEOs Guy Rowcliffe and John Stewart.

* Price Action: CME shares are trading lower by 0.32% at $201, and INFO lower by 0.01% at $120.58 during the pre-market session on Wednesday.