From CNBC: 2024-06-04 23:55:57

Investors including BlackRock and Citadel Securities are supporting a new national stock exchange in Texas, the TXSE. With $120 million raised, the exchange aims to offer a CEO-friendly alternative to NYSE and Nasdaq. Targeting to start trading in 2025 and host listings in 2026, TXSE sees Texas’ growing economy as a prime opportunity.

A contentious Nasdaq rule requiring diversity disclosure by listed companies faces a new challenge in a federal appeals court. TXSE plans to be a fully electronic national securities exchange seeking SEC registration. Targeting companies in the southeastern U.S., the exchange aims to provide more opportunities amidst regulatory changes and compliance costs.

Read more: Citadel, BlackRock back project to start national stock exchange in Texas