‘Standstill’ agreement gives trueEX a lifeline
Temporary deal allows start-up Sef to continue operations until at least July 29
trueEX has reached an agreement with Markit to continue accessing its trade processing platform until a court rules on whether to grant an injunction to prevent withdrawal of the service.
A ‘standstill agreement’ finalised on May 10 allows trueEX to continue using the MarkitSERV platform until at least July 24, when the court is expected to schedule a hearing on trueEX’s request for a preliminary injunction. trueEX says it will file a separate motion to expedite the hearing date by 40 days
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