According to the Wall Street Journal and the Dallas Morning News, a group backed by BlackRock and Citadel Securities is pushing for a new national stock exchange in Texas. The Texas Stock Exchange (TXSE) has raised about $120 million and plans to file registration papers with the Securities Exchange Commission later this year.
Under the current schedule, TXSE will compete for both primary and dual listings, and plans to conduct an initial trading by the end of 2025 and host an initial public offering in early 2026. According to CEO James Lee, TXSE aims to become "the third largest listing venue in the U.S.", with a primary focus on listed companies in the southeastern United States. It also aims to attract exchange-traded products and challenge the compliance costs of Nasdaq and the New York Stock Exchange.
Texas Stock Exchange has raised $120 million and plans to file registration papers with SE
2024-06-05 09:43:13
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