Chicago Stock Exchange Inc., one of the oldest stock exchanges in the U.S., said on Friday it would be bought by an investor group led by China’s Chongqing Casin Enterprise Group.
Terms of the deal were not disclosed.
“Together, we have a unique opportunity to help develop financial markets in China over the longer term and to bring exciting Chinese growth companies to U.S. investors,” Chongqing Casin Chairman Shengju Lu said in a statement.
Chicago Stock Exchange’s CEO John Kerin said the deal would give the company additional resources to pursue the launch of its new product, CHX Snap, in the spring of 2016.
Chongqing Casin Enterprise Group, a privately held firm founded in 1997, is focused on investments in real estate development and financial holdings.
The first formal meeting to organize the Chicago Stock Exchange was held in 1882, according to the CHX website. The exchange allows transactions on almost all equity securities traded on the New York Stock Exchange, Amex, Nasdaq, and other national securities exchanges.