Chongqing Casin Enterprise Group, a privately-held diversified holding group focused on real estate development, environmental protection industry investment and operation, financial holdings and municipal infrastructure investment and construction, has recently announced the acquisition of Chicago Stock Exchange (CHX).
"We are honored to partner with CHX," Casin Group Founder and Chairman, Shengju Lu, said. "We have reviewed CHX's plans to improve market share through new growth initiatives and fully support them. Together, we have a unique opportunity to help develop financial markets in China over the longer term, and to bring exciting Chinese growth companies to U.S. investors."
According to the press release of CHX in PR News Wire, John Kerin, CEO and President of CHX, will remain in his position after the transactions are closed. CHX's management team is expected to also remain with the company after the transaction. CHX's current business operations and proprietary trading platform that has established state-of-the-art capacity, speed and system reliability, are being planned to be preserved by the Casin Group.
"After an in-depth review of strategic alternatives for the exchange, we believe that this acquisition is the best outcome for our clients, shareholders and the trading community as a whole. With our new investment partners, we will have significant additional resources to pursue our new business initiatives, including the launch of our on-demand auction product, CHX|snap℠, in the Spring of 2016," said Kerin. "We look forward to having an active role in improving trading efficiency and the stock exchange's value proposition to clients and the broader trading community."
The Chicago Stock Exchange was founded in 1882 and is one of the oldest full-service national securities exchange that offer robust and high-performance technology.
The Casin Group is a privately-held diversified holding group founded in 1997. The China-based company specializes in real estate development, environmental protection industry investment and operation, financial holdings, and municipal infrastructure investment and construction. At present, the company has 821 employees across China and abroad, including Beijing, Hong Kong, Sydney, and other locations.
