Bye-Bye NYSE, Nasdaq? Wall Street Bigwigs BlackRock, Citadel Securities Lead Charge For New 'Apolitical,' 'CEO-Friendly' Stock Exchange In Texas
Portfolio Pulse from Shanthi Rexaline
BlackRock and Citadel are leading efforts to establish a new stock exchange in Texas, named the Texas Stock Exchange (TXSE), aiming to challenge the dominance of the NYSE and Nasdaq. The new exchange plans to be more CEO-friendly and apolitical, attracting IPOs and secondary listings. TXSE has secured $120 million in funding and plans to begin trading in 2025.
June 05, 2024 | 6:29 am
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NEGATIVE IMPACT
Intercontinental Exchange, owner of the NYSE, may face increased competition from the new Texas Stock Exchange (TXSE) led by BlackRock and Citadel.
The establishment of TXSE could introduce significant competition to the NYSE, potentially impacting ICE's market share and revenue.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Nasdaq may encounter new competition from the Texas Stock Exchange (TXSE), which aims to be more CEO-friendly and apolitical.
The launch of TXSE could pose a competitive threat to Nasdaq, potentially affecting its market position and revenue.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
BlackRock is leading efforts to establish the Texas Stock Exchange (TXSE), which could diversify its influence in the financial markets.
BlackRock's involvement in establishing a new stock exchange could enhance its market influence and provide new revenue streams, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80