BlackRock and Citadel Securities are among investors backing a group seeking to start a new national stock exchange in Texas.
TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors.
The Wall Street Journal reported on the endeavor earlier, saying the exchange is billing itself as a"more-CEO friendly" alternative to the New York Stock Exchange and Nasdaq in the face of rising regulation. TXSE's website said it will be a"fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission.""Texas's booming economy and the strong economic and population growth among states in the southeast quadrant of the U.S.
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