Wednesday, June 12, 2024
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TXSE Group poised to challenge New York exchanges’ dominance with Texas Stock Exchange launch

TXSE Group Launch Announcement – Key Points:

  • New Exchange: TXSE Group announces the launch of the Texas Stock Exchange (TXSE).
  • Headquarters: Located in Dallas, Texas.
  • Capital Raise: Initial capital raise of nearly $120 million.
  • Purpose: Provide US and international organizations access to US equity capital markets.
  • Services:
    • Platform for trading and listing public companies.
    • Expanding “universe of exchange-traded products”.
  • Technology: Fully electronic national securities exchange.
  • SEC Registration: Intends to submit a registration with the US Securities and Exchange Commission (SEC) later this year.
  • Investors:
    • Over two dozen investors.
    • Includes BlackRock and Citadel Securities.
    • Industry angels also participated.
  • Capitalization: Claims to be the “most well-capitalised exchange entrant ever” to file with the SEC.
  • CEO Statement:
    • James Lee, founder and CEO, highlights the growing volume and choices in equities trading markets.
    • Emphasizes benefits for investors, issuers, and liquidity providers through increased competition and market reliability.

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