Texas Stock Exchange Secures $120M, Set to Challenge NYSE and Nasdaq by 2026

June 5, 2024
Texas Stock Exchange Secures $120M, Set to Challenge NYSE and Nasdaq by 2026
  • The Texas Stock Exchange Group has secured $120 million in funding to launch the Texas Stock Exchange in 2025, with trading scheduled to begin in 2026.

  • The exchange, based in Dallas, aims to challenge traditional exchanges like the NYSE and Nasdaq by attracting international companies.

  • Governor Greg Abbott supports the initiative, positioning TXSE as a competitor in the financial sector with lower compliance costs and a favorable regulatory environment.

  • The exchange will not enforce diversity targets on listed companies, potentially making it easier for crypto firms to go public.

  • TXSE Group plans to focus on listing businesses in Texas and the southeast quadrant of the US, addressing the decline in public companies and providing an alternative for private equity-sponsored companies.

  • Jamie Dimon of JPMorgan Chase supports the initiative, emphasizing the importance of addressing challenges faced by companies in public markets.

Summary based on 10 sources


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