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One of the U.S.’s Oldest Stock Exchanges Is Being Bought by Chinese Investors

February 5, 2016, 5:28 PM UTC
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Photo by Paul Chesley — Getty Images

Chicago Stock Exchange Inc., one of the oldest stock exchanges in the United States, 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 Chief Executive 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. (Reporting By Sudarshan Varadhan in Bengaluru; Editing by Maju Samuel and Anil D’Silva)