‘Standstill’ agreement gives trueEX a lifeline

Temporary deal allows start-up Sef to continue operations until at least July 29

A court hearing is scheduled for July 24

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.