Blackrock, Citadel back an effort to launch a 'more CEO-friendly' stock exchange
) and Citadel Securities, intends to establish a new national stock exchange in Texas. Led by Chairman and CEO James Lee, TXSE has raised $120 million from over two dozen investors.
The Wall Street Journal first reported on the project, describing the Texas Stock Exchange as a"more-CEO friendly" alternative to the New York Stock Exchange and Nasdaq. This positioning comes in response to increasing regulation and growing concerns about compliance costs. According to the official press release, TXSE plans to be a"fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission." The exchange aims to start trading in 2025 and begin hosting listings in 2026, as reported by the Journal.
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