Completion of OSTTRA Sale by S&P Global and CME Group to KKR Announced

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

On October 10, 2025, S&P Global (NYSE: SPGI) and CME Group proudly announced the completion of their strategic decision to sell their joint venture, OSTTRA, to KKR, a renowned global investment firm. This move is expected to reshape the future of post-trade financial services, with a significant enterprise value of $3.1 billion from the sale.

Background of OSTTRA

Established in 2021 as a collaboration between S&P Global and CME Group, OSTTRA has significantly contributed to the global financial ecosystem. It provides an extensive range of critical post-trade offerings across key asset classes, including interest rates, foreign exchange, credit, and equity. OSTTRA has emerged as a pivotal player, ensuring that banks, broker-dealers, asset managers, and other participants can seamlessly navigate the complexities of trade processing, trade lifecycle management, and trading optimization.

The sale's terms specify that the enterprise value will be evenly distributed between S&P Global and CME Group, reflecting their joint ownership structure.

Strategic Importance of the Sale

KKR’s acquisition marks a crucial step for both S&P Global and CME Group. By divesting OSTTRA, these financial giants can streamline their operations and focus on core strategies that will drive their growth in a fast-evolving market landscape. The decision also positions OSTTRA for enhanced growth potential under KKR's stewardship, given its resources and expertise in the investment realm.

Financial and legal advisory roles were filled by Barclays and Davis Polk for S&P Global, while Citi and Skadden facilitated the process on behalf of CME Group. This collaboration underscores the complexities and monumental nature of the transaction.

Impact on the Financial Landscape

As financial markets constantly evolve, having a robust post-trade infrastructure is critical for efficiency and transparency. OSTTRA’s comprehensive suite of offerings is expected to further enhance connectivity and workflow solutions in the industry. With its current capabilities, OSTTRA provides essential services that help streamline trade processes and improve lifecycle management, which is vital for effective risk management.

Both S&P Global and CME Group will continue to maintain their status as leading players in the financial services space, focusing on their unique areas of expertise. For S&P Global, this includes providing intelligent data and analytics, which are crucial for making informed decisions across various sectors. CME Group, as a pivotal derivatives marketplace, is renowned for enabling clients to trade futures, options, and manage risk effectively.

Looking Ahead

This significant sale raises interesting questions for the future direction of both the companies involved and OSTTRA under the KKR banner. Observers are keen to see how KKR integrates OSTTRA into its portfolio, potentially leveraging it to expand its service offerings in the finance sector. This transaction paints a picture of a dynamic market where innovation and strategic partnerships will define success in the years to come.

In conclusion, the sale of OSTTRA signifies a pivotal moment in financial services as it transitions under KKR’s ownership, while S&P Global and CME Group continue to pioneer advancements in their respective fields. The collaboration between KKR, S&P Global, and CME Group illustrates a trend of consolidation and strategic foresight that may reshape the industry landscape in profound ways.