The 134-year-old Chicago Stock Exchange has been acquired by Chinese Investment Company Chongqing Casin Enterprise Group, according to official statement issued by Chicago Stock Exchange on Friday.

Highly placed sources have revealed that deal was valued at less than $100 million and it will be most probably closed in second half of the year.

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"We're a good fit. Our strategy is something they like and is consistent with theirs", said Chicago Stock Exchange Chief Executive Officer John Kerin in a phone interview with a U.S. based business channel.

Chicago Stock Exchange is one of the many small players in America's capital market, which is mostly dominated by Nasdaq and Dow Jones. According to TABB Group, Chicago Stock Exchange is third smallest third smallest stock market in the US, handling just 0.5% of the nation's capital trading as of January 2016.

Nevertheless, the acquisition of this small stock exchange will give the Chinese Investment Company entry into America's multibillion dollar capital market industry. This deal is especially significant as this is the first time a Chinese company has acquired a U.S. Exchange.

Chongqing Casin Enterprise Group was once a public limited company, but was privatized in early 1990's. After going private, the company initially focused on real estate projects and then steadily diversified into financial and banking industry.

The deal is still subjected to regulatory clearance.

The Chicago Stock Exchange deal is still subjected to regulatory clearance and also political hurdles. In 2011, Germany's Deutsche Boerse's move to buy New York Stock Exchange caused huge uproar across America.

Many analysts though believe that since Chicago Stock Exchange is a very small player, the deal will most likely not meet with any political hurdles.

TagsChicago Stock Exchange, china, Chongqing Casin Enterprise Group