Chicago Stock Exchange Sold to NY Exchange’s Parent
Intercontinental Exchange (ICE), parent organization of the New York Stock Exchange, has agreed to acquire the Chicago Stock Exchange (CHX), including trading, data and corporate listings services. Terms were not disclosed, but the Wall Street Journal reported last week that ICE was discussing a possible deal and offering about $70 million to acquire CHX.
Subject to SEC approval, CHX will continue to operate as a registered national securities exchange, and will benefit from the planned deployment of the NYSE Pillar trading technology in ICE’s Chicago data center. NYSE Pillar will also provide additional functionality for the institutional equity brokerage community in Chicago.
The transaction is expected to close in the second quarter of 2018, subject to regulatory approvals. News of the sale comes a few weeks after another Chicago-based exchange, CME Group, announced a deal to buy NEX Group for $5.5 billion.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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