The upstart Texas Stock Exchange said it had hired executives from Charles Schwab Corp., Nasdaq Inc. and the New York Stock Exchange as it builds up a leadership team ahead of plans to begin operations next year.
Cam Smith, a veteran of the U.S. Securities and Exchange Commission who most recently worked for Inca Digital, becomes global head of trading. Jeffrey Brown will join as general counsel and chief regulatory officer, after previously working at Charles Schwab.
Nicole Chambers, a senior managing director of listings at Nasdaq, will serve a similar role for TXSE Group Inc., the company said Monday in a statement.
The Texas Stock Exchange has raised $135 million and plans to file registration documents with the SEC in the next few months, Chief Executive Officer James Lee told reporters in Austin.
The bourse has the backing of BlackRock Inc., Citadel Securities and other investors, and aims to challenge the NYSE and Nasdaq as the state tries to grab more of the financial services industry.
The TXSE, which aims to begin all-electronic trading operations next year, will be headquartered in Dallas, bolstering a metro area that has been gaining financial jobs from the likes of Goldman Sachs Group Inc. and Charles Schwab.
