Green Energy
Bloomberg:
The Chicago Stock Exchange said a Chinese investor group agreed to acquire it, giving the buyer entry into the intensely competitive U.S. equity market.
Chongqing Casin Enterprise Group has signed a definitive agreement to acquire the company, according to a statement Friday, which didn’t give financial terms. The exchange said the deal is expected to close in the second half of the year, though that will require regulatory approval.
“We’re a good fit. Our strategy is something they like and is consistent with theirs,” Chicago Stock Exchange Chief Executive Officer John Kerin said in a phone interview. “We provide technology and we’re a standalone, full-service exchange that they can grow in a manner that suits their needs.”
The Chicago Stock Exchange – a subsidiary of CHX Holdings Inc. – is minority-owned by a group including E*Trade Financial Corp., Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co., according to the company. The minority shareholders are also selling their stake, Kerin said.
The acquisition would be the first of a U.S. exchange by a Chinese company. The 134-year-old bourse, which handles about 0.5 percent of U.S. stock trading, would give the buyer a beachhead in the $22 trillion American equity market, where regulations require trades to be routed to whichever exchange has the best price for a stock at a given moment.
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Green Energy
Free Trade as Conservative Ideology FAILS UTTERLY: Chicago Stock Exchange Says It’s Being Sold to Chinese-Led Group
Bloomberg:
The Chicago Stock Exchange said a Chinese investor group agreed to acquire it, giving the buyer entry into the intensely competitive U.S. equity market.
Chongqing Casin Enterprise Group has signed a definitive agreement to acquire the company, according to a statement Friday, which didn’t give financial terms. The exchange said the deal is expected to close in the second half of the year, though that will require regulatory approval.
“We’re a good fit. Our strategy is something they like and is consistent with theirs,” Chicago Stock Exchange Chief Executive Officer John Kerin said in a phone interview. “We provide technology and we’re a standalone, full-service exchange that they can grow in a manner that suits their needs.”
The Chicago Stock Exchange – a subsidiary of CHX Holdings Inc. – is minority-owned by a group including E*Trade Financial Corp., Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co., according to the company. The minority shareholders are also selling their stake, Kerin said.
The acquisition would be the first of a U.S. exchange by a Chinese company. The 134-year-old bourse, which handles about 0.5 percent of U.S. stock trading, would give the buyer a beachhead in the $22 trillion American equity market, where regulations require trades to be routed to whichever exchange has the best price for a stock at a given moment.
Conservatives WAKE UP and do what Obama could never do.
FIND PRACTICALITY AND ACHIEVE
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From Canada Free Press (thanks to Gramfan): Good news to know that the truth will always out—even when you’re Barack Obama. “Obama Years Ago Helped Fund Carbon Program He Is Now Pushing Through Congress” is a FOXNews story by Ed Barnes. In short,...
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