Financiers plan to launch a Texas-based stock exchange
What is the proposed name for the new stock exchange to be headquartered in Dallas?
The proposed name for the new stock exchange to be headquartered in Dallas is the Texas Stock Exchange (TXSE).
Which major financial firms and investors are involved in the creation of the Texas-based stock exchange?
The creation of the Texas-based stock exchange involves major financial firms and investors such as BlackRock and Citadel Securities. In total, about two dozen investors have contributed to raising approximately $120 million in capital for the project. The exchange, which is planned to be headquartered in Dallas, is currently seeking registration with the U.S. Securities and Exchange Commission to operate as a national securities exchange. The aim is to provide an alternative to the New York Stock Exchange and Nasdaq. The initiative is driven by the TXSE Group, founded and CEO'd by James Lee.
How much capital has been raised to start the Texas Stock Exchange, and what are the sources of this funding?
The Texas Stock Exchange has raised approximately $120 million in capital to launch the new private market stock exchange in Dallas. This funding has come from a group of financial firms and investors, which includes BlackRock, Citadel Securities, and about two dozen other investors. The group is now seeking registration with the U.S. Securities and Exchange Commission (SEC) to operate as a national securities exchange later this year.