The Chicago Stock Exchange has won approval for a takeover deal by a consortium led by China’s Chongqing Casin Enterprise Group from the Committee on Foreign Investment in the US, or Cfius, a spokesman for the Chicago exchange said.
Cifius has the power to block any deal that jeopardises US national security. The transaction, the first time that a Chinese-led group acquired a US bourse, still needs the green light from the Securities and Exchange Commission. The Chicago exchange voluntarily submitted it for review by Cfius
The rationale for the deal, revealed in February, is to provide a way for Chinese companies to list in the US as well as open the door for Chinese investors to buy US-listed shares.