The owner of the New York Stock Exchange (NYSE) announced Thursday that it has reached a deal to buy the 136-year-old Chicago Stock Exchange.
The owner Intercontinental Exchange (ICE) said in a statement that it has reached an agreement to buy the Chicago Stock Exchange for an undisclosed amount, after regulatory approvals are finalized.
The deal is expected for closure in the second quarter of this year after the approval of the Securities and Exchange Commission (SEC), the statement said.
A Chinese investor group tried for years to buy the Chicago Stock Exchange but up to last month, the SEC did not grant approval.
Opened in March 1882, the exchange represents only around 1 percent of equity volume across the U.S. but has a license to run a national securities exchange, which could take many years for the ICE to acquire from the SEC, experts said.
However, founded in May 1792, the NYSE is one of the world's largest stock exchanges. The 225-year-old exchange hosts global companies with some of the highest net worth in the world, such as Microsoft, Walmart and ExxonMobil.
By Ovunc Kutlu in New York
Anadolu Agency
energy@aa.com.tr