The Dallas Stock Exchange TXSE - with founder James Lee and financiers such as JPMorgan Chase & Co, BlackRock and Citadel Securities - is expected to open for trading on Thursday, October 8.
Last week, pipeline operator Energy Transfer and three related companies - Sunoco, Sunoco Corp and USA Compression Partners - announced that they will also move to TXSE as their home exchange.
Large banks such as Goldman Sachs and Wells Fargo have also been drawn to expand in Texas, where they benefit from lower taxes and lighter regulatory requirements.
In response to the Dallas challenger, the New York Stock Exchange's Texas subsidiary has opened operations in Old Parkland in Dallas, while Nasdaq has launched a trading venue for stocks in Texas.
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