DALLAS — A Texas-based stock exchange is in the works.
Backed by BlackRock and Citadel Securities, TXSE Group, Inc. says it plans to file registration with the U.S. Securities and Exchange Commission to start operating as a national securities exchange, Texas Stock Exchange (TXSE), later this year. There are currently over two dozen investors behind the effort with $120 million in funding.
The new exchange would be based in Dallas as it looks to take on the world-famous New York Stock Exchange and Nasdaq.
TXSE will be a “fully electronic national securities exchange” that seeks to expand access to U.S. capital markets “for all investors while providing greater access and alignment for public companies and those seeking access to public capital,” according to the press release.
“Changes in equities trading markets are driving more volume to exchanges and more choices for issuers and sponsors,” said James Lee, founder and CEO of TXSE…
