The transaction has been unanimously approved by the CHX Holdings Board of Directors and is expected to close in 2018, subject to regulatory approvals. Terms of the transaction were not disclosed. CHX will continue to operate as a registered national securities exchange based in Chicago.
“After an in-depth review of strategic alternatives for CHX, we believe this transaction is clearly in the best interests of CHX stockholders and positions the organization well going forward,” said Matthew Frymier, Chairman of the
Board of CHX Holdings, Inc.
“We are pleased to enter this agreement with the world’s leading exchange operator,” said John Kerin, CEO & President of CHX. “ICE is a proven innovator in the Exchange space and we are looking forward to joining its family of
exchanges.”
CHX will continue to operate its business as usual and anticipates no disruptions. Customers, including the institutional brokerage community, will receive ongoing support.
GCA Advisors, LLC served as financial advisor and Sidley Austin LLP served as
legal advisor to CHX on the transaction.
About CHX
Chicago Stock Exchange (CHX) is a full-service national securities exchange
with robust, high-performance technology. CHX offers trading in more than
8,300 listed securities and offers a compact set of order types designed to
provide a level playing field for all order senders. Learn more at
www.chx.com.