New Texas Stock Exchange to Challenge NYSE and Nasdaq

Backed by BlackRock and Citadel, the Texas Stock Exchange aims to attract companies with fewer regulations and a business-friendly environment.

The Texas Stock Exchange (TXSE) has raised $120 million from over two dozen investors, including BlackRock and Citadel Securities.
TXSE plans to file for registration with the SEC later this year and start trading in 2025, with its first listing expected in 2026.
The exchange will be headquartered in Dallas and aims to offer a fully electronic trading platform.
TXSE seeks to attract companies frustrated with the regulatory environment of NYSE and Nasdaq, promising fewer compliance costs.
Texas has become a major business hub, now home to more Fortune 500 companies than any other state.