Among the investors supporting a consortium looking to launch a new national stock exchange in Texas are BlackRock and Citadel Securities.
With the help of more than two dozen investors, the Dallas-based organization has raised $120 million, according to TXSE Chairman and CEO James Lee.
“Texas’s booming economy and the strong economic and population growth among states in the southeast quadrant of the U.S. present incredible opportunities for businesses — and ultimately the Texas Stock Exchange,” Lee stated on LinkedIn.
In light of growing regulation and a “disaffection with increasing compliance costs,” the exchange is marketing itself as a “more-CEO friendly” substitute for the New York Stock Exchange and Nasdaq, according to a Wall Street Journal story on the project that was published earlier.
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A contentious Nasdaq regulation mandates that listed firms reveal information about the diversity of their board of directors. The scheme was approved by the SEC in 2021, but a federal appeals court is currently considering a new challenge to it.
According to its website, TXSE intends to operate as a nationwide securities exchange that is totally electronic and will register with the U.S. Securities and Exchange Commission. The Journal reported that TXSE plans to host listings in 2026 and begin trading in 2025.
According to the Dallas Morning News, TXSE will focus on businesses in the “southeastern quadrant of the U.S.” Lee expressed gratitude to Texas Governor Greg Abbott for his leadership and support in an interview with the newspaper.
