Texas Stock Exchange Sets Sights on National Platform with New Board

The Texas Stock Exchange (TXSE), aiming to launch next year, has announced its board of directors. Notable appointees include Rick Perry and Rick Roberts. TXSE has raised $120 million, backed by BlackRock and Citadel Securities, and plans to register with the SEC. Key executives were also named, including Cam Smith and Jeff Brown.

The Texas Stock Exchange (TXSE), gearing up for its launch next year, took a significant step on Monday by announcing its board of directors. This move underscores TXSE's ambition to become a national platform, rivaling established exchanges in New York.

Among the appointees are notable figures such as Rick Perry, the former Texas governor and U.S. energy secretary, and Rick Roberts, a former SEC commissioner. Alex Bussandri, the global head of strategy at Citadel Securities, also joins the board. The initiative enjoys financial backing from industry giants like BlackRock and Citadel Securities, with $120 million raised to date.

Further solidifying its leadership, TXSE has appointed Cam Smith as the global head of trading and co-president. Smith's background includes roles in electronic trading and serving as president of Quantlab. Jeff Brown, formerly acting general counsel at Charles Schwab, will take on the role of general counsel of TXSE Group Inc and chief regulatory officer of the exchange.

(With inputs from agencies.)