(Reuters) -TXSE Group, backed by BlackRock (NYSE:) and Citadel Securities, plans to launch the Texas Inventory Change primarily based in Dallas, a spokesperson for Citadel Securities mentioned on Tuesday.
The trade, which has raised about $120 million, plans to file registration paperwork with the Securities and Change Fee to function as a nationwide securities trade later this 12 months, the corporate mentioned on Wednesday.
The inventory trade goals to draw listings of exchange-traded merchandise and goals to problem rising compliance prices on the Nasdaq and the NYSE, and newer guidelines just like the one setting targets for board range on the Nasdaq.
TXSE’s deliberate launch comes as adjustments within the fairness markets present a chance for better alignment and extra competitors, it mentioned.
