Citadel and BlackRock back project to start a national stock exchange in Texas to target companies in the “southeastern quadrant of the U.S.”

essentialsaltes said:

TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors.

The Wall Street Journal reported on the endeavor earlier, saying the exchange is billing itself as a “more-CEO friendly” alternative to the New York Stock Exchange and Nasdaq in the face of rising regulation and a “disaffection with increasing compliance costs.”

The Dallas Morning News reported TXSE will target companies in the “southeastern quadrant of the U.S.” In an interview with the newspaper, Lee thanked Texas Gov. Greg Abbott for his support and leadership.

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The Stock Exchange of Northern Aggression?

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essentialsaltes said:

The Stock Exchange of Northern Aggression?

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ThatRobGuy said:

It could make for a good back drop for a sequel "Trading Places 2"...


In all seriousness, I don't see it as a "North vs. South" thing in this case, I've always found it odd that all of the jobs in a particular sector were all concentrated in one particular city...so if investing or stock trading was one's passion (it wouldn't be my cup of tea, but clearly some enjoy it), their choices are "suck it up and go to live in one of the most over-congested over-priced cities in the country" or "find something else to do"

Plus, having the investment sector divides between progressive and conservative areas is a good "real world" experiment in terms of gauging levels of regulation and their impacts.

If this endeavor takes off, instead of merely speculating (pun intended), within 3-5 years, we'll all be able to get a clearer picture of which ways work better.

If one is over-regulated or under-regulated, we'll see that in the results pretty quickly.

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essentialsaltes said:

TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors.

The Wall Street Journal reported on the endeavor earlier, saying the exchange is billing itself as a “more-CEO friendly” alternative to the New York Stock Exchange and Nasdaq in the face of rising regulation and a “disaffection with increasing compliance costs.”

The Dallas Morning News reported TXSE will target companies in the “southeastern quadrant of the U.S.” In an interview with the newspaper, Lee thanked Texas Gov. Greg Abbott for his support and leadership.

--

The Stock Exchange of Northern Aggression?

Click to expand...