The financial world is buzzing as the Texas Stock Exchange (TXSE) gears up to challenge the longstanding dominance of the New York Stock Exchange (NYSE) and Nasdaq. Headquartered in Dallas, TXSE is poised to revolutionize the trading landscape by offering a fully-electronic venue for trading public companies and the ever-expanding universe of exchange-traded products.
In preparation for its launch, TXSE has successfully completed a $120 million initial capital raise. This significant financial boost comes from over two dozen investors, including Wall Street heavyweights BlackRock and Citadel Securities. The ambitious initiative aims to break the effective duopoly of NYSE and Nasdaq by addressing investor concerns over rising compliance costs and increasing regulatory burdens.
“Changes in equities trading markets are driving more volume to exchanges and providing more choices for issuers and sponsors,” said James Lee, founder and CEO of TXSE Group Inc. “TXSE will ultimately create more competition around quote activity, liquidity, and transparency, resulting in more consistent and reliable markets that benefit investors, global issuers, and liquidity providers alike.”
TXSE is set to submit its registration with the US Securities and Exchange Commission (SEC) to operate as a national securities exchange later this year, marking a significant step in its journey to reshape the trading ecosystem.
Stay tuned as TXSE aims to bring a fresh perspective and competitive edge to the financial markets, promising an innovative and efficient trading experience.
