Citadel LLC and BlackRock Support Initiative to Establish National Stock Exchange in Texas

BlackRock and Citadel Securities are among investors supporting a project to establish a new national stock exchange in Texas. The initiative, led by TXSE Chairman and CEO James Lee, has raised $120 million with the help of over two dozen investors. The Texas Stock Exchange aims to provide a 'more-CEO friendly' alternative to the NYSE and Nasdaq amidst increasing regulation and compliance costs. The exchange plans to be fully electronic and seek SEC registration, with trading set to begin in 2025 and listings in 2026. Targeting companies in the southeastern U.S., the TXSE has garnered support from Texas Governor Greg Abbott for its vision.