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First ETF to list on Texas Stock Exchange by end of 2025
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Texas Stock Exchange Backed by BlackRock and Citadel Raises $120 Million to Compete with NYSE
Jun 5, 2024, 01:27 AM
The Texas Stock Exchange, backed by financial giants BlackRock and Citadel Securities, plans to launch a new national stock exchange in Texas. The initiative, which aims to compete with the New York Stock Exchange (NYSE) and Nasdaq, has already raised approximately $120 million from investors. The group intends to file registration documents with the Securities and Exchange Commission (SEC) later this year. The new exchange will also seek to list exchange-traded funds (ETFs). The move is seen as a challenge to what the backers perceive as onerous regulations at existing major exchanges, WSJ reports.
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