TXSE Group Inc. has announced its plan to launch the Texas Stock Exchange (TXSE) in Dallas, with the backing of major financial institutions such as Blackrock and Citadel Securities. This new exchange will provide a platform for trading and listing public companies and exchange-traded products. With a capital raise of approximately $120 million, TXSE aims to become a significant player in the U.S. equity markets, promoting competition and accessibility.
Supported by prominent financial institutions including Blackrock and Citadel Securities, TXSE Group Inc. revealed its intention to establish the Texas Stock Exchange (TXSE) in Dallas. The company has successfully completed its initial capital raise with the participation of more than two dozen investors, including some of the world’s largest financial institutions and liquidity providers. In addition, prominent business leaders from across the country have also backed the initiative. The new exchange will focus on enabling both U.S. and global companies to access U.S. equity capital markets. It will provide a platform for trading and listing public companies, as well as the growing universe of exchange-traded products.
The impending launch of the Texas Stock Exchange aligns with evolving dynamics in the equity markets, which are paving the way for increased competition and alignment. As corporate issuers and sponsors of exchange-traded products demand enhanced stability and predictability in listing standards and costs, TXSE aims to improve market accessibility for public companies and entities seeking public capital. The exchange plans to submit a registration with the U.S. Securities and Exchange Commission as a national securities exchange later this year, making it the most well-capitalized exchange entrant to do so, with approximately $120 million of capital raised. TXSE will be a fully electronic, national securities exchange.
Texas and the neighboring southeastern states are experiencing significant economic and population growth, making them an ideal location for a new national securities exchange. James Lee, founder and CEO of TXSE Group Inc., expressed his excitement about bringing the long-held vision for a national stock exchange in Texas to fruition. He explained that the economic powerhouses in Texas and the southeast quadrant, combined with the demand from investors and corporations for expanded alternatives to trade and list equities, make it an opportune time to build a major, national stock exchange in Texas.
What are your thoughts on Blackrock and Citadel backing the Texas Stock Exchange? Let us know in the comments section below.
