The National Association of Securities Dealers is prepared to sell the American Stock Exchange to a Chicago-based private equity firm for $110 million, ending a two-year search for a buyer, The Wall Street Journal reports.

The NASD signed a letter of intent last week to sell the nation’s third-largest exchange to GTCR Golder Rauner, the newspaper said. However, the NASD will not keep any of the proceeds of the sale, the Journal said. Instead, the revenue will be used to cover previously agreed upon investments while the remaining portion will remain on the exchange’s balance sheet.

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