TXSE Group Inc. announced plans to launch the Texas Stock Exchange (TXSE), headquartered in Dallas. TXSE will focus on providing U.S. and global companies with access to U.S. equity capital markets and will provide a venue for the trading and listing of public companies and a growing universe of exchange-traded products.
TXSE will be a fully electronic national securities exchange that will seek registration with the U.S. Securities and Exchange Commission.
TXSE Group Inc. successfully completed its initial capital raise with participation from more than two dozen investors, including some of the largest financial institutions and liquidity providers in the world, such as BlackRock and Citadel Securities, as well as prominent business leaders from across the country.
The liquidity providers supporting TXSE Group Inc. represent a significant portion of equity volume on U.S. exchanges and together account for the majority of all retail equity volume listed in the U.S. With approximately $120 million in capital raised, TXSE is expected to become the most capitalized exchange-traded company to file for registration with the U.S. Securities and Exchange Commission.
Texas and other states in the southeastern quadrant of the United States lead the country in economic and population growth, making Texas an obvious choice for a new national securities exchange, the trading platform said in a press release.
The SEC filing is scheduled for this year.