Chinese-led investor group to buy the Chicago Stock Exchange

AP News
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Posted: Feb 05, 2016 9:48 AM

NEW YORK (AP) — The Chicago Stock Exchange, founded more than a century ago, said Friday that it is being acquired by a Chinese-led investor group.

The exchange did not disclose the purchase price. The deal is expected to close in the second half of the year and needs to be approved by the U.S. Securities and Exchange Commission.

The buyers are led by Chongqing Casin Enterprise Group, an investment group based in Chongqing, China.

The exchange, based in Chicago, was founded in 1882 and trades 8,300 stocks and exchange traded funds. The buyers said it plans to keep the Chicago Stock Exchange's business operations and trading platform in place.

John Kerin, CEO of the Chicago Stock Exchange, will remain in the job.