S&P Global and CME Group Complete Sale of OSTTRA to KKR

Rhea-AI Summary

S&P Global (NYSE: SPGI) and CME Group completed the sale of OSTTRA to KKR on October 10, 2025.

The transaction established a $3.1 billion total enterprise value for OSTTRA, which will be divided evenly between S&P Global and CME Group under their 50/50 joint venture (implying $1.55 billion to each partner). OSTTRA, launched in 2021, provides post-trade connectivity and workflow solutions across interest rates, FX, credit and equity asset classes. Barclays and Davis Polk advised S&P Global; Citi and Skadden advised CME Group.

Positive

• Sale completed at $3.1 billion total enterprise value
• $1.55 billion implied proceeds to SPGI from 50/50 JV split
• Transaction closed with named financial and legal advisors

Negative

• None.

NEW YORK, Oct. 10, 2025 /PRNewswire/ -- S&P Global (NYSE: SPGI) and CME Group today announced that they have completed the sale of OSTTRA to KKR, a leading global investment firm. The terms of the deal for OSTTRA equaled total enterprise value at $3.1 billion, which will be divided evenly between S&P Global and CME Group pursuant to their 50/50 joint venture.

Established in 2021 as a joint venture between CME Group and S&P Global, OSTTRA serves the global financial ecosystem with a comprehensive suite of critical post-trade offerings across interest rates, FX, credit and equity asset classes. OSTTRA provides end-to-end connectivity and workflow solutions to banks, broker-dealers, asset managers, and other market participants across trade processing, trade lifecycle, and optimization.

Barclays and Davis Polk served as financial and legal advisors, respectively, to S&P Global. Citi and Skadden served as financial and legal advisors, respectively, to CME Group.

About S&P Global

S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through sustainability and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world.

We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today.

About CME Group

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) 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. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

Media Contacts:
S&P Global
Farhan Husain
farhan.husain@spglobal.com

Investor Relations
mark.grant@spglobal.com

CME Group
Laurie Bischel
laurie.bischel@cmegroup.com

Investor Relations
investors@cmegroup.com

CME-G

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/sp-global-and-cme-group-complete-sale-of-osttra-to-kkr-302580731.html

SOURCE S&P Global; CME Group

FAQ

What did S&P Global announce about OSTTRA on October 10, 2025 (SPGI)?

S&P Global announced completion of the sale of OSTTRA to KKR with a $3.1 billion enterprise value.

How much does S&P Global receive from the OSTTRA sale (SPGI)?

Proceeds are split 50/50 with CME Group, implying $1.55 billion to S&P Global.

Who bought OSTTRA from S&P Global and CME Group?

KKR acquired OSTTRA in the transaction completed on October 10, 2025.

What services did OSTTRA provide prior to the sale?

OSTTRA provided post-trade connectivity and workflow solutions across interest rates, FX, credit, and equity asset classes.

When was OSTTRA originally established as a joint venture?

OSTTRA was established in 2021 as a 50/50 joint venture between S&P Global and CME Group.

Who advised S&P Global and CME Group on the OSTTRA transaction?

Barclays and Davis Polk advised S&P Global; Citi and Skadden advised CME Group.