CHX plans to replace floor trading with an automated system. Valerie Jarrett, CHX chairman, said, this transaction represents an endorsement of the Exchange’s strategic plan to leverage existing volume and connectivity, and to integrate a state of the art electronic trade matching engine in order to attract significant new business.
CHX says each back will participate in the boards of directors once regulators and stockholders have signed off on the deal.
The Chicago Stock Exchange was founded in 1882 and trades more than trades more than 3,500 NYSE, AMEX, NASDAQ and CHX-exclusive issues.
