Financiers plan to launch a Texas-based stock exchange

Traders work on the floor of the New York Stock Exchange shortly after the opening bell, Wednesday, April 24, 2024, in New York. –

Stock exchanges are private institutions where stocks, bonds and other securities are traded. If the SEC clears TXSE to begin operations, it will be the first stock exchange to launch in the country in recent years., which first reported on the creation of the new exchange, TXSE promises to be more CEO-friendly than other exchanges and wants to capitalize on discontent over new rules and rising compliance costs at Nasdaq and NYSE.

But it could be difficult for a new exchange to take off in the U.S. listings market, where the Nasdaq and NYSE have dominated for decades. The U.S. exchange business consists of about 16 equities exchanges with NYSE accounting for more than 20% of the volume in equities trading in May and Nasdaq over 15%, according to Bloomberg.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Financiers plan to launch a Texas-based stock exchangeA group of financial firms and investors is planning to launch a Texas-based private market stock exchange and offer traders an alternative to the New York Stock Exchange and Nasdaq. The group announced Wednesday it raised $120 million in capital to start the Texas Stock Exchange in Dallas. They are now seeking registration with the U.S.
Source: AP - 🏆 728. / 51 Read more »