NYSE-owner agrees to buy the Chicago Stock Exchange

Intercontinental Exchange, the owner of the New York Stock Exchange, announced Thursday it has an agreement to buy the Chicago Stock Exchange.

“We are pleased to enter this agreement with the world’s leading exchange operator,” said John Kerin, the CEO and president of the Chicago Stock Exchange, in a press release. “ICE is a proven innovator in the Exchange space and we are looking forward to joining its family of exchanges.”

The transaction is expected to close later this year. The Wall Street Journal reported last week the deal price discussed between the two companies was $70 million. The terms of the transaction were not disclosed.

Previously Chinese-led North America Casin Holdings tried to acquire the Chicago Stock Exchange, but the deal collapsed in February after it was rejected by the Securities and Exchange Commission, according to Reuters.

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