The Texas Stock Exchange (TXSE), backed by BlackRock and Citadel Securities, plans to challenge NYSE and Nasdaq, aiming for SEC registration this year and trading by 2025, with first listings in 2026.
The Texas Stock Exchange is a new competitor to the New York Stock Exchange and Nasdaq, and investors like BlackRock and Citadel Securities are supporting it because of the state’s thriving economy.
The Wall Street Journal reports that the TXSE intends to file registration filings with the Securities and Exchange Commission later this year, having raised $120 million from major investment firms like the ones mentioned above. The first listing on the new market might happen as early as 2026, and trades might start there in 2025.
Compared to collapsing blue cities and states, the temptation of reduced taxes and living expenses, together with weak regulatory monitoring, a generally welcoming business environment, and law and order have been significant contributing factors to the increasing number of Fortune 500 businesses moving to Texas in recent years.
Texas is a desirable state for business, as seen by its notable corporations, which include Tesla, Exxon, AT&T, American Airlines, Oracle, Dell, and Caterpillar.
Texas currently boasts 52 Fortune 500 companies, tied with New York for second place, despite California being the top state with 57 Fortune 500 companies.
By lowering compliance expenses compared to Nasdaq and NYSE, TXSE hopes to draw in businesses and improve CEO friendliness on the exchange. We don’t think the new exchange will follow Nasdaq’s policy about woke board diversity.
“This morning, we are announcing TXSE Group plans to launch the Texas Stock Exchange (TXSE). TXSE will be a fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission,” TXSE CEO James Lee wrote in a post on LinkedIn.
Lee added, “Texas and the other states in the southeast quadrant of the U.S. have become economic powerhouses.”
The South’s Wall Street is growing.
If not before 2030, Elon Musk may decide to go public with Starlink on the TXSE in 2026.
Recently, GreatGameIndia reported that Moderna’s stock surged as the US government invested millions in covert bird flu vaccine trials amid concerns over H5N1’s spread and potential human-to-human transmission ahead of the presidential elections.
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Interesting, if Biden could have an emergency, a pandemic or war… he could postpone the elections or find thousands of mail in votes that no one knew about? Amazing how close we are to 1984 or Brave New World….
Excelent article.