On July 5, Intercontinental Exchange strengthened its position in the European power and gas markets by acquiring full control of Endex, the Amsterdam-based power and gas exchange. ICE bought the remaining 20% stake held by Nederlands Gasunie, the stateowned gas infrastructure company. Endex offers futures and options on natural gas and electricity prices in the Netherlands, Germany, France and other European countries. It also hosts natural gas spot markets in Belgium, the Netherlands and the U.K.
On July 7, however, the U.K. Competition and Markets Authority confirmed a preliminary finding that ICE's acquisition of Trayport, which was agreed in December 2015, would reduce competition in the European power and gas markets and could not be remedied without a sale. The CMA also ordered ICE to terminate its commercial agreement with Trayport, which it said would risk the ability of Trayport's future owner "to set its own commercial strategy towards ICE." ICE expressed disappointment at the decision but confirming that it will move forward with the divestment of Trayport "expeditiously."