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Texas poised to get own stock exchange – with less red tape than NYSE or Nasdaq
BlackRock and Citadel are among the backers of the Texas Stock Exchange, which has raised $120 million, The Wall Street Journal reported.
BlackRock and Citadel are among the backers of the TXSE, which has raised about $120 million from investors and plans to register with the Securities and Exchange Commission later this year, CEO James Lee said. They're also hoping to appeal to large-cap companies' desire to incorporate in the Lone Star State, which has fewer regulations and more favorable tax policies. Lee said that the TXSE would be apolitical, but its proposed launch comes at a time when right-wing culture warriors have taken aim at mainstream financial markets.
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