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China group to buy Chicago Stock Exchange

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http://money.cnn.com/2016/02/05/investing/china-buys-chicago-stock-exchange/

 

One of America's oldest stock exchanges has just been sold to China.
The 134-year-old Chicago Stock Exchange reached a deal on Friday to be acquired by a Chinese-led group of investors.

The purchase by Chongqing Casin Enterprise Group is the latest U.S. investment made by China and would give the country a foothold in the vast American stock market.
The struggling Chicago Stock Exchange is a very small player in the exchange world whose presence is overshadowed by Nasdaq (NDAQ), the iconic New York Stock Exchange and newer entrants.
As of January, the Chicago Stock Exchange handled just 0.5% of U.S. trading, making it the third-smallest U.S. exchange, according to TABB Group.
Terms of the Chicago acquisition were not released. Privately-held Casin Group was founded in 1997 and has investments in real estate, environmental protection, finance and other areas. The Chicago Stock Exchange is minority-owned by a group that includes Bank of America (BAC), E*Trade (ETFC), Goldman Sachs (GS) and JPMorgan Chase (JPM).

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