The newly launched exchange operator based in Dallas, Texas – with parent company TXSE Group – aims to open the doors to stock trading next year and wants to grab a piece of the American stock market from the Nasdaq Stock Exchange and the New York Stock Exchange. Among other things, the Texas Exchange is characterized by softer regulation for listed companies than on Wall Street.
Permission to conduct stock market trading has already been obtained from the US Securities and Exchange Commission (SEC).
Including the latest capital injection, a total of $250 million, approximately SEK 2.4 billion, has been raised for the venture. Previous investors include Blackrock, Citadel Securities, brokerage firm Charles Schwab and billionaire Kelcy Warren.
TXSE founder James Lee writes in a comment that he hopes Texas will become a new global leader in the capital markets.
The New York Stock Exchange's owner, NYSE, has recently moved its Chicago operations to Dallas under the NYSE Texas brand.
