Written by Susan McGgy and Nicht Nisant
(Reuters) – TXSE is looking for the launch of 2026 after the presentation of paper works as a national stock exchange, the mother company said on Friday.
The company hopes that the US Securities and Stock Exchange will agree to demand before the end of the year because it tries to disrupt the dominated industry.
The proposed stock exchange said that she wants to reflect the contraction of the circulating number of companies circulating for the public, and to address what she described as the high cost of the public and the rest on the stock exchanges.
“This is a big step forward,” said Anne Pitts, a lawyer for capital markets in Red Smith LP Houston.
Since supporters of the stock exchange announced their plans in the summer, a few details have been revealed. The so -called model 1, which includes how to deal with the new stock market, may not deal with trading, drawing rules, fees and other things, for several weeks.
In conjunction with the deposit, the stock market said it had received $ 161 million from capital from more than four investors. Their ranks include corporate giants such as Blackrock, Citadel Securities and Charles Schwab as well as American market makers and commercial companies such as Jump Trading.
“It is an interesting idea,” said Rick Worster, CEO of Dawab, who added that he gives the company and its customers another option.
The stock exchange is placed as a competitor to Nasdak and the exchange of stocks in New York, and is a student in the country’s leading securities markets.
The Texas Stock Exchange headquarters will occupy part of a new building in Dallas, which will include executive offices, conference center and “iconic bell boundaries”, according to the Facts newspaper from the stock exchange.
Two of the market template analysts, who asked not to be named because they were not allowed to speak publicly about the project, TXSE said that more competing.
Another stock exchange, IEX, spent four years in an attempt to seduce companies that are publicly circulating only to give up this effort in 2019.
“This is a very competitive environment,” said Pitts. Companies that are considering inserting TXSE “want to make sure that TXSE is equivalent if not better” than their competitors.
The governor of Texas Greg Abbott said in September that the new stock exchange will expand the financial power of the state and strengthen its economic power on the world stage. A number of prominent companies, including Tesla from Elon Musk, have transferred their headquarters to the country in recent years, noting a more welcome business climate.
(Participated in the reports of Nikit Nisant in Bangaluru and Susan McGgy in New York; editing of the Schroeder and Sinthia Ostman)
The post Texas Stock Exchange files to operate nationally, eyes trading in early 2026 first appeared on Investorempires.com.