Davis Polk Advises IHS Markit on Its Joint Venture with CME Group

Davis Polk is advising IHS Markit in connection with its agreement with CME Group to combine their post-trade services into a new 50/50 joint venture. The new company will include trade processing and risk mitigation operations. It will incorporate CME Group’s optimization businesses – Traiana, TriOptima and Reset – and IHS Markit’s MarkitSERV. The transaction is expected to close in summer 2021 subject to customary antitrust and regulatory approvals and other customary closing conditions.

IHS Markit is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. CME Group enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities.

The Davis Polk corporate team includes partners Oliver Smith and Evan Rosen and associates Matthew J. Cowcher and Soo Lim. The U.S. tax team includes partner Michael Mollerus and associate Joshua J. Micelotta. Partner Jonathan Cooklin is providing U.K. tax advice. Partner Kyoko Takahashi Lin is providing executive compensation advice. The intellectual property and technology team includes partner Pritesh P. Shah and associate Samantha Lefland. Members of the Davis Polk team are based in the New York and London offices.