Texas Stock Exchange Seeks National Status

By Laura Matthews and Suzanne McGee

NEW YORK (Reuters) – The Texas Stock Exchange (TXSE), set to launch next year, revealed its board of directors, aiming to compete nationally against established exchanges in New York.

TXSE announced its intention in June to register with the U.S. Securities and Exchange Commission after raising approximately $120 million, with backing from BlackRock and Citadel Securities.

Notable board members include:
– Rick Perry: Former Texas governor and U.S. energy secretary
– Rick Roberts: Former SEC commissioner
– Alex Bussandri: Global head of strategy at Citadel Securities

The exchange has recruited talent from Nasdaq, the New York Stock Exchange, and other platforms. It appointed Cam Smith as global head of trading and co-president, and Jeff Brown as general counsel and chief regulatory officer.

With these efforts, TXSE is strategically positioning itself in the financial arena, looking to foster a competitive exchange landscape.