BlackRock and Citadel plan to launch a national securities exchange, expected to begin operations in 2025

2024-06-05 13:41:26

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ChainCatcher news, according to Beincrypto, a consortium backed by Wall Street giants BlackRock and Citadel Securities is launching a new national securities exchange in Texas. The Texas Securities Exchange (TXSE) aims to challenge the regulatory environment of the New York Stock Exchange (NYSE) and Nasdaq.

A Citadel spokesperson confirmed that the company is an investor in TXSE, and TXSE Chairman and CEO James H. Lee confirmed in his LinkedIn post that both BlackRock and Citadel Securities are involved in the project.

Reports indicate that TXSE has raised approximately $120 million from investors. The company also plans to submit registration documents to the U.S. Securities and Exchange Commission (SEC) later this year. The company expects to begin operations in 2025 and plans to go public in 2026.

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