US lawmakers press to block Chicago Stock Exchange deal

Eleven members of Congress asked the US Securities and Exchange Commission on Monday to stop the sale of the Chicago Stock Exchange to a group led by China-based investors, saying the regulator lacks the ability to monitor the foreign buyers, Reuters reports. The proposal to sell privately owned CHX for an undisclosed amount to a consortium led by Chongqing Casin Enterprise Group (CCEG) has drawn attention because it would be the first time a US exchange has been bought by Chinese investors. There are also US investors in the group. “With little or no insight and transparency into government-dominated Chinese markets, the SEC will be unable to monitor the ownership structure of CCEG after approval, leaving CHX open to undue, improper, and possibly state-driven influence,” the Republican and Democratic lawmakers said in a letter to the SEC. The SEC said in early June it would take up to another 60 days to make a decision on the sale.