Odaily Planet Daily News A consortium backed by Wall Street giants BlackRock and Citadel Securities is launching a new national stock exchange in Texas, the Texas Stock Exchange (TXSE), a move designed to take advantage of growing dissatisfaction with the compliance costs of Nasdaq and the New York Stock Exchange and provide a more CEO-friendly environment. TXSE backers, including Citadel Securities and BlackRock, provided important support. These companies have previously supported other emerging exchanges, such as Members Exchange (MEMX). TXSE has raised about $120 million. The company also plans to submit registration documents to the U.S. SEC later this year, expects to begin operations in 2025, and plans to go public for the first time in 2026. The exchange will be fully electronic, but the actual location is in Dallas. It also intends to strive for primary and dual listings, including exchange-traded products. The crypto community warmly welcomed this latest development, especially considering that BlackRock CEO Larry Fink has expressed optimism about the potential of Bitcoin ETFs and tokenization. (BeInCrypto)
