2 of the biggest exchange groups in the US have agreed to merge

The Chicago Board of Options (CBOE) has agreed to buy Bats Global Markets in a $3.2 billion deal, a statement said on Monday.

CBOE will fund the transaction through a combination of stock and debt.

“The transaction will significantly expand CBOE Holdings’ product line across asset classes, broaden its

geographic reach with Bats’ strong pan-European equities and global FX positions, and diversify its

business mix with significant non-transactional revenue streams,” the statement said.

“CBOE Holdings expects to utilise Bats’ leading proprietary trading technology by migrating trading in all of the combined company’s markets onto a single, proven platform.”

More to come …

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