The Dallas-based Texas Stock Exchange announced it has added industry veterans to drive its growth into the $11 trillion exchange-traded products (ETP) market, as well as key executives to strengthen strategic operations and market intelligence.
“I’m proud to welcome these proven ETP leaders to the Texas Stock Exchange,” TXSE Chairman and CEO James H Lee said in a statement. “The ETP market is growing at an unprecedented pace. The Texas Stock Exchange is committed to delivering the innovation, operational expertise, and alignment that sponsors require to capitalize on this next wave of global expansion.”
Last October, the TXSE Group announced its executive leadership team. After securing $161 million from BlackRock, Citadel Securities, and other major investors to fuel its push to create a more CEO-friendly exchange, the TXSE is targeting a 2026 launch. Promising to streamline the IPO process, it aims to make it easier and cheaper for companies to go public.
ETP leadership
Robert Marrocco, the former global head of ETP listings at Cboe Global Markets, has joined TXSE as global head of exchange traded products and as a member of TXSE’s management committee. Under his leadership, Cboe BZX captured nearly 30% of all new ETP listings since 2020.
“I’m excited to be part of the Texas Stock Exchange and to further shape the enormous opportunities that TXSE will bring to the capital markets,” Marrocco said in a statement.
Alison Hennessy, the former head of ETP listings at the Nasdaq Stock Market, has joined the TXSE as managing director of exchange traded products. Kyle Murray, former legal head of global listings at Cboe Global Markets, now serves as TXSE’s deputy general counsel and legal head of global listings.
TXSE said Laura Morrison will be a strategic advisor. Previously, she was global head of listings and exchange traded products at Cboe Global Markets, as well as global head of indices and exchange traded products at the New York Stock Exchange.
TXSE said that together, these leaders managed more than 40% of all ETPs in the U.S. and are poised to establish TXSE as the premier listing venue for ETPs globally.
The Texas Stock Exchange said that the ETP market is experiencing rapid growth, with up to $8 trillion in new assets projected in the U.S. alone and total global assets estimated to top $25 trillion by 2030.
With their extensive experience in capital markets, complex structuring, and operational expertise, this team will guide sponsors through the specialized process of launching and scaling ETP offerings, while leveraging an innovative and strategic co-branding approach to maximize impact, TXSE said.
‘Poised to redefine the future of capital markets’
TXSE said it also bolstered its capital markets expertise with the addition of Zoran Perkov, former chief executive of the Long Term Stock Exchange, as vice president of strategic operations. TXSE said that Perkov played a key role in building critical trading platforms at Long Term Stock Exchange, IEX, and Nasdaq, focusing on stability, speed, and fairness in the U.S. equities markets.
“TXSE is building a next-generation exchange focused on competition, efficiency, and transparency,” Perkov said in a statement. “I’m excited to help create a platform that meets the evolving needs of the market.”
Also, William Bailey has joined TXSE to lead its market intelligence group, which will provide real-time analytics for corporate issuers and sponsors alike. Through these efforts, TXSE said it aims to offer strategic insights to its listing partners, ensuring that they have access to timely and actionable market intelligence.
“The depth of talent joining TXSE speaks to the scale of our ambition,” Cameron Smith, co-president and global head of trading at the Texas Stock Exchange, said in a statement. “With this team in place, the Texas Stock Exchange is poised to redefine the future of capital markets—and we’re just getting started.”
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R E A D N E X T
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In June, TXSE Group announced plans to launch the Texas Stock Exchange (TXSE), focused on enabling U.S. and global companies to access U.S. equity capital markets via a “fully electronic, national securities exchange." In the months since, that's led to endless discussion of the impact of North Texas' "Y'All Street." It was capped by yesterday's announcement that the TXSE had raised over $135 million to date as it named members of TXSE's board—including former Texas Governor and former U.S. Energy Secretary Rick Perry; former SEC Commissioner Rick Roberts; and Alex Bussandri, the global head of strategy at Citadel Securities.
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