A group backed by BlackRock (BLK) and Citadel Securities is planning to start a new stock exchange in Texas, aiming to take on the onerous regulation at the New York Stock Exchange and Nasdaq, Corrie Driebusch of The Wall Street Journal reports. The Texas Stock Exchange, which has raised approximately $120M, plans to file registration documents with the Securities and Exchange Commission later this year, CEO James Lee told the Journal.
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