00:00It's Benzinga, and here's what's on the block.
00:02Citadel Securities and BlackRock are among over two dozen investors backing a new project to
00:07start a national stock exchange called the Texas Stock Exchange based in Dallas, Texas.
00:12The TXSC has raised $120 million in funding so far from these investors.
00:17The TXSC aims to be a more CEO-friendly alternative to the New York Stock Exchange
00:21and NASDAQ by having lower compliance costs and being less regulated.
00:26The TXSC will be a fully electronic national securities exchange
00:29that will apply to the SEC for registration.
00:32It is targeting companies in the southeastern U.S. and aims to start trading in 2025 and host
00:37listings in 2026. The founders believe the business opportunities from Texas' growing
00:42economy makes it an attractive location. For all things money, visit Benzinga.com.
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