Whenever Any Form of Government Becomes Destructive To These Ends,
It Is The Right of the People to Alter Or To Abolish It,
And To Institute New Government


Friday, February 05, 2016

Free Trade as Conservative Ideology FAILS UTTERLY: Chicago Stock Exchange Says It’s Being Sold to Chinese-Led Group

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.


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posted by Epaminondas at permanent link#


Anonymous Anonymous said...

I remember how horrified I was several decades ago when the Rockefeller Center was sold to a Japanese group. Nothing surprises any more. But this does not look good. Not at all. Between the Mahomedans and the Chinese, we will be foreigners in our own land ...

Saturday, February 06, 2016 3:29:00 am  

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