Chongqing Casin Enterprise Group has already signed the deal to acquire the stock exchange. The transaction will be finalized in the second half of this year, assuming it receives regulatory approval.
I guess the Chinese got tired of trying to hack into the stock exchange and decided to just buy the thing for themselves.
“We’re a good fit. Our strategy is something they like and is consistent with theirs,” Chicago Stock Exchange CEO John Kerin told Bloomberg. “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 Market only handles about 0.5 percent of the U.S stock market, but this acquisition still gives the Chinese a foothold in the American marketplace.
Previous attempts by foreign government to buy stock exchanges have failed in the past, and we can only hope that this particular deal will be rejected by the federal government.
Anyone with a shred of common-sense should see the threat that China poses to the United States. China conducts cyber warfare every day against the U.S. government and countless private companies.
Enough is enough. We need to elect a president who will make sure that the government cracks down on China protect American economic interests both at home and abroad.