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Chinese-led investors plan to buy Chicago Stock Exchange

The Chicago Stock Exchange, founded more than a century ago, said it has agreed to be acquired by a Chinese-led investor group.

The buyers are considering opening a stock exchange in southwest China and also hope to list Chinese stocks in the U.S., Chicago Stock Exchange CEO John Kerin said in an interview Friday. The exchange needs the cash from the buyout to launch its new trading products and platforms, Kerin said.

Terms of the deal were not disclosed. Kerin will continue as CEO after the deal closes.

Leading the investor group is Chongqing Casin Enterprise Group, a holding company based in Chongqing, China. Efforts to reach Chongqing Casin Enterprise Group were...