n a decision that many had anticipated, the SEC Thursday night officially rejected a proposal from a Chinese investment group to purchase the Chicago Stock Exchange – which handles a tiny 1% of daily order volume – in an acquisition that would have created a conduit for a Chinese entity to exert more control over IPOs of China-based companies in the US, where markets are significantly more open to international investors than in China. Hundreds of small companies are waiting to list in China, where they’re being held up by red tape.

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