The group announced Wednesday it raised $120 million in capital to start a stock exchange in Dallas this year.
– A group of financial firms and investors is planning to launch a Texas-based private market stock exchange and offer traders an alternative to the New York Stock Exchange and Nasdaq.
“Texas and the other states in the southeast quadrant have become economic powerhouses. Combined with the demand we are seeing from investors and corporations for expanded alternatives to trade and list equities, this is an opportune time to build a major, national stock exchange in Texas,” said James Lee, founder and CEO of TXSE Group.
“If we look at the three states with the largest economy, New York has two stock exchanges. Texas, comparably to California, is growing economically and demographically really fast, and already has a big number of Fortune 500 biggest companies headquarters, so it makes sense Dallas would be an ideal place,” said Steven Pedigo, a professor at the University of Texas at Austin’s LBJ School of Public Affairs and an expert in economic and urban development.
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Financiers plan to launch a Texas-based stock exchangeA group of financial firms and investors is planning to launch a Texas-based private market stock exchange and offer traders an alternative to the New York Stock Exchange and Nasdaq. The group announced Wednesday it raised $120 million in capital to start the Texas Stock Exchange in Dallas. They are now seeking registration with the U.S.
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