Car parts exchange gets FTC green light

The US Federal Trade Commission has given regulatory approval for online automotive parts exchange Covisint to begin trading.

The web marketplace, founded as a joint venture between Daimler Chrysler, General Motors and Ford is the largest of such marketplaces to go before the regulators, and has been seen as a test case for the B2B industry. According to the Wall Street Journal, as the implementation of the exchange has not yet begun, the FTC has said it will continue to monitor Covisint to see if further anti-competitive concerns arise.