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A Billionaire-Backed Texas Stock Exchange Is In The Works

Cailey Gleeson reports via Forbes: A group backed by more than two dozen investors -- including Citadel Securities and BlackRock -- is planning to start its own stock exchange in Texas, it said Wednesday, in an attempt to compete with the New York Stock Exchange and Nasdaq. The Texas Stock Exchange...

Cailey Gleeson reports via Forbes: A group backed by more than two dozen investors -- including Citadel Securities and BlackRock -- is planning to start its own stock exchange in Texas, it said Wednesday, in an attempt to compete with the New York Stock Exchange and Nasdaq. The Texas Stock Exchange (TXSE) -- owned by TXSE Group Inc. and founded in 2023, per its LinkedIn-- will be a "fully electronic national securities exchange" that seeks to expand access to markets for all investors and those seeking access to public capital, according to Wednesday's press release. "The NYSE considered relocating its electronic trading systems to the Dallas-Fort Worth area in late 2020, amid a proposed financial transaction tax on stocks in New York," adds Forbes.

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