Off the wire
• Roundup: Top UN officials call for protection of girls' dignity, end to female genital mutilation  • Number of deaths of flu complications rises to 51 in Greece  • Serbian minister dismissed from duty for untoward remarks  • Flanders set to be gateway to Europe for Chinese trade: minister  • 1st LD Writethru: Oil prices extend loss amid ample supplies  • Urgent: U.S. dollar rebounds amid mixed jobs data  • Urgent: Oil prices extend loss amid ample supplies  • 1st LD Writethru: Gold up on poor U.S. data  • Lesotho appeals for emergency aid as drought worsens  • UN human rights chief to visit Sri Lanka  
You are here: 　 Home

Chicago Stock Exchange to be sold to a Chinese group

Xinhua, February 6, 2016 Adjust font size:

The Chicago Stock Exchange announced on its website Friday that it has entered into a definitive agreement to be acquired by an investor group led by Chongqing Casin Enterprise Group (Casin Group).

The Board of Directors of Chicago Stock Exchange has unanimously approved the transaction, the announcement said. But, it still needs to get regulatory approvals, and the final acquisition is expected to close in the second half of 2016.

The terms of the transaction have not been disclosed.

Chicago Stock Exchange CEO and President John Kerin said the acquisition is the best outcome for the clients, shareholders and the trading community as a whole "after an in-depth review of strategic alternatives for the exchange".

It is learned that the Chinese company will preserve current business operations and proprietary trading platforms of Chicago Stock Exchange, and the management team will remain in place upon the closure of the transaction.

Casin Group, headquartered in Chongqing, is a leading diversified holding company in China that has investments in financial services, real estate and environmental services.

It would be the first U.S. stock exchange being purchased by a Chinese company. The 134-year-old stock exchange now handles about 0.5 percent of U.S. stock trading. Endit