BlackRock and Citadel Back Texas Stock Exchange

BlackRock and Citadel Back Texas Stock Exchange

Lorenzo Gomez
2 min read

BlackRock and Citadel Securities Back New Texas Stock Exchange in $120 Million Funding Round

BlackRock, Citadel Securities, and other investors are backing the launch of a new national stock exchange in Texas, named the Texas Stock Exchange (TXSE). The exchange, headquartered in Dallas, has secured $120 million in funding from over two dozen investors. TXSE aims to take advantage of Texas's thriving economy and the robust growth in the southeastern U.S., positioning itself as a "more CEO-friendly" alternative to the New York Stock Exchange and Nasdaq, especially in light of increasing regulatory pressures and compliance costs. The exchange plans to operate fully electronically and is targeting a 2025 launch for trading, with listings set to begin in 2026. TXSE's CEO, James Lee, has expressed gratitude to Texas Governor Greg Abbott for his support, highlighting the state's favorable business environment.

Key Takeaways

  • BlackRock, Citadel Securities, and other investors support the launch of the Texas Stock Exchange (TXSE) with $120 million in funding.
  • The exchange aims to offer a more CEO-friendly alternative to existing exchanges, targeting the southeastern U.S. and aiming to ease regulatory burdens for listed companies.
  • TXSE plans to commence trading in 2025 and start hosting listings in 2026, operating fully electronically.


The entrance of the Texas Stock Exchange (TXSE) into the market, backed by influential investors, signifies a strategic move to capitalize on the thriving Texas economy and the growth in the Southeast. This shift has the potential to alleviate regulatory burdens for companies, attracting businesses seeking a less stringent environment. In the short term, the establishment of the TXSE may heighten competition among exchanges, impacting trading volumes and listing fees. In the long term, it could redefine regional economic dynamics, influencing capital flows and corporate governance standards. The success of TXSE will rely on its ability to offer streamlined operations and competitive advantages over established exchanges like NYSE and Nasdaq.

Did You Know?

  • BlackRock: Recognized as the largest asset manager globally, BlackRock oversees a vast portfolio of investments across various asset classes, including stocks, bonds, and real estate. It is renowned for its proprietary technology platform, Aladdin, integrating risk management, analytics, and trading tools.
  • Citadel Securities: As a prominent global market maker, Citadel Securities offers liquidity and trade execution services to institutional and retail clients. It plays a crucial role in ensuring market efficiency by trading large volumes of financial instruments.
  • Texas Stock Exchange (TXSE): A proposed new national stock exchange based in Dallas, Texas, aiming to provide a more CEO-friendly platform compared to existing exchanges. This new exchange targets southeastern U.S. companies, potentially easing regulatory burdens and reducing compliance costs for listed firms.

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